On the morning of September 12 KST, the first extraordinary meeting of HYBE Labels shareholders was held in Mapo-gu, Seoul.

On this day, Lee Jae Sang, previously Chief Strategy Officer, was officially appointed CEO of HYBE, taking over after Park Ji Won. 

Immediately following his appointment as CEO, Lee Jae Sang commented on the latest request made by the members of NewJeans, asking to have Min Hee Jin restored to her position as CEO of ADOR. Lee told reporters, "It will take some time, but we will stick to regulations and respond calmly. HYBE is a company which follows the rules and pursues precision management. Looking back, those who follow the rules always end up as the winners."

Some industry insiders understood Lee Jae Sang's comment to mean that HYBE Labels will not abide by the request of the NewJeans members, and will continue to separate management from creative production in the era of HYBE 2.0. 

SEE ALSO: Min Hee Jin responds to the court decision denying her reinstatement as ADOR CEO