K-pop group NewJeans has officially announced their departure from Hybe's Ador label, following a two-week ultimatum related to former head Min Hee-Jin's removal. The group made this announcement during a recent press conference.

Key developments:

• NewJeans cited dissatisfaction with Hybe's response to their demands, including Min Hee-Jin's reinstatement and addressing alleged poor treatment of a group member
• Members stated continuing with Ador would cause "mental stress" and be "a waste of time"
• The group expressed interest in working with Min Hee-Jin again in the future
• Members are proceeding with scheduled obligations in Japan

Ador's response:

• Claims the contract remains valid until 2029
• States NewJeans has no legal grounds to terminate the agreement
• Plans to bring in new producers to replace Min Hee-Jin
• Requests a meeting to find a solution

Financial impact:

• Hybe's stock (KRX: 352820) experienced a significant decline
• Shares dropped to ₩195,000, marking an 11% weekly decrease
• Overall decline of 19% since the start of 2024

This situation could have broader implications for K-pop industry contracts, potentially influencing how other artists approach their label relationships. The group may continue performing under a different name, though details remain uncertain.

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