HYBE names Lee Jae-sang as new CEO

CEO Lee Jae-sang

South Korea’s largest K-pop agency HYBE Corp. has appointed Lee Jae-sang, the current Chief Strategy Officer, as its new Chief Executive Officer. Lee, 42, is set to take over from Park Ji-won, who has spearheaded the company’s global expansion over the past three years. Although Park is stepping down from the CEO position, he will return to HYBE in early 2025 after his sabbatical.

The leadership change comes amid ongoing tensions within the company’s existing management structure, particularly concerning allegations of a “power struggle” involving Min Hee-jin, CEO of HYBE subsidiary Ador. Despite the leadership change, these conflicts are expected to persist if the current management dynamics do not shift significantly.

HYBE announced in a press release on Wednesday that Lee will be officially appointed as CEO after approval from the shareholders’ meeting and the board of directors. HYBE has been crafting its mid-to-long-term growth strategy under the ‘HYBE 2.0’ initiative since early 2024, which includes this leadership transition project designating Lee as the next leader.

Lee, a graduate of Yonsei University’s Business Administration Department, has a diverse background in global business management. He worked at the global management consulting firm Monitor Group, Hyundai Motor Company, and Google before joining HYBE’s predecessor, Big Hit Entertainment, in 2018. Lee has held several key positions at HYBE, including Chief Innovation and Growth Officer at Big Hit Entertainment, Chief Strategy Officer at HYBE, Chief Operating Officer of HYBE America, and President of HYBE America. In these roles, he has been instrumental in shaping the company’s business strategy and overseeing major investments.

Notably, Lee played a crucial role in establishing and solidifying HYBE’s three-pronged business structure: Label, Solution, and Platform. He led significant mergers and acquisitions (M&A) of leading Korean labels and technology companies and guided HYBE through its initial public offering (IPO) process.