He stressed that the company’s financial situation is strong and urged employees to have confidence that ongoing issues, including disputes related to NewJeans, will be resolved over time.
During an internal event at City Hall on October 14, CEO Lee Jae-sang highlighted HYBE’s strong financial position, calming concerns about a KRW400 billion convertible bond redemption risk. He also highlighted the success of HYBE’s latest convertible bond issue, signaling market confidence in the company’s growth potential.
The company’s available liquidity, as confirmed by HYBE’s 2024 semi-annual report, amounts to approximately KRW 1.07 trillion. Furthermore, HYBE successfully refinanced its KRW 400 billion convertible bonds ahead of schedule.
The CEO also spoke about HYBE’s positive performance, highlighting the strong sales of SEVENTEEN and the growing popularity of BOYNEXTDOOR.
According to Hanteo Chart on October 15, SEVENTEEN’s twelfth mini-album “SPILL THE FEELS” sold 2.49 million copies on the first day of its release. This marks an increase of 230,000 copies compared to their best album “17 IS RIGHT HERE”, released in April, which sold 2.26 million copies on its first day.
BOYNEXTDOOR’s third EP “19.99”, released in September, recorded 750,000 copies sold in its first week, with 600,000 copies sold on its first day. This is an improvement over their second EP “HOW?”, released in April, which sold 530,000 copies in its first week and 390,000 copies sold on the day of release.
HYBE’s financial outlook remains optimistic, with expectations for improvements in third-quarter earnings. The company also sees continued growth for its new KATSEYE group.
KATSEYE, which debuted in June, has achieved notable results on national and international music charts such as Billboard, Spotify and Melon.
Source: Daum
The post HYBE CEO Indirectly Dismisses Rumors of Company Bankruptcy appeared first on KBIZoom. KBIZoom – Latest news on K-pop, K-drama, Anime/Manga and world entertainment KBIZoom – Latest news on K-pop, K-drama, Anime/Manga and world entertainment
