BTS Firm HYBE’s Boss Steps Down With Lee Jae-sang Named As Successor

HYBE CEO Park Ji-won has resigned from the BTS label, with current Chief Strategy Officer Lee Jae-sang in line as his replacement.

 

Park joined Big Hit Entertainment (now HYBE) in 2020 and became CEO in 2021, succeeding current chairman, founder and then-CEO Bang Si-hyuk.

Park’s resignation comes amid several conflicts within the label’s affiliates, including Min Hee-jin, the CEO of girl group NewJeans’ label ADOR and other HYBE subsidiaries Source Music and Belift Lab.

Park’s successor, Lee, joined HYBE in 2018 after stints with Hyundai Motor Group and Google. He was chief innovation growth officer for Big Hit Entertainment as well as chief operating officer and CEO of Hybe America.

Lee’s appointment will be finalized after an upcoming HYBE shareholders and board of directors meeting.

Local media reported that Lee will lead a soon-to-be-announced “HYBE 2.0” initiative as part of the leadership transition.

Boy group BTS, HYBE’s key musical act, are among the best-selling artists in the world and the largest to come out of Korea. The group are currently on hiatus, with most in the middle of military service.