The full report takes up approximately 2,000 pages and, if fully revealed, is expected to have significant ramifications across the entertainment industry. There is also growing interest in the relationship between former Weverse Magazine editor K, who wrote the report, and HYBE president Bang Si-hyuk.
According to Sports Seoul on October 30, several insiders indicated: “The format of the report K wrote is very similar to the weekly reports he wrote as a journalist. Mix information gleaned from meetings with sources and trends from online forums. What has been revealed is only a fraction.”
The report was made entirely to suit President Bang’s intentions. Insider A, who is familiar with K, said: “The Bang Si-hyuk I know scours every single forum. He is very sensitive to industry trends and opinions. K meticulously scoured various fandom forums, including X (formerly Twitter), and compiled everything he found into a report.“
President Bang and K’s relationship dates back to the 2000s. K worked at JYP Entertainment and their relationship began around 2005 when Bang founded Big Hit Entertainment. Subsequently, K became an editor-in-chief at a news organization, also consulting for entertainment agencies. It was reported that K’s neglect of his duties as editor-in-chief caused dissatisfaction among journalists at the time. The two maintained their relationship over the years, and when Bang founded HYBE, K became editor-in-chief of Weverse Magazine, joining forces once again.
President Bang often engaged with talented journalists and critics. Insider B shared: “Before an album’s release, about ten days in advance, Bang would gather music critics, play them the album, and take them out to eat. I have been to such meetings. He approached those whose writing he admired, with the intention of working with them. Due to K’s influence in the industry, K was placed in the rank of manager (C level).“
While K held the position of editor-in-chief at Weverse Magazine, K devoted much of his energy to writing reports for executives, including President Bang. Insider A noted: “From Bang’s perspective, he needed executives, many of whom came from gaming companies, to have an accurate understanding of entertainment industry trends. That’s why he paid K a significant salary, instead of relying on journalists or critics. Weverse Magazine was just one of the many tasks handled by K; the two are not just casual acquaintances, they are truly close.”
The document obtained by Sports Seoul contains, among other things, comments on stage appearances and rehearsals. C, a representative from another agency who knows K, noted: “There are too many non-factual elements in the report. Even though we know each other, I don’t understand why K wrote things like that.”
D, an executive at a singer’s agency mentioned in the report, commented: “Fandom monitoring is something that all companies do, but if the type of monitoring report exposed is representative, then the intent to degrade is too obvious. How can they accurately assess an artist’s position with such distorted information? If all 2,000 pages of the report contain similar content, it’s terrifying to think about.”
D added: “HYBE controls over 50% of the market share in K-pop. It’s not just any entertainment company. They shouldn’t operate this way. If they denigrate other artists, this inevitably reflects negatively on themselves as well. They made it seem like only their artists were perfect while everyone else was a mess. This issue is set to continue making headlines, but it’s not just a competition issue: it’s degrading the entire K-pop industry, making it too deplorable to ignore.“
It was reported that while these reports were continuously produced within HYBE, former ADOR CEO Min Hee-jin repeatedly raised concerns, but they were ignored.
In an email sent to HYBE management on April 16, Min said: “The “Industry Trend Review” document released weekly by K, the editor-in-chief of Weverse Magazine, consistently contained biased and biased content. ADOR has previously objected, stating that factual data, such as numbers and indicators, are necessary and that a minimum level of objectivity must be maintained.”
Min further revealed: “I also raised the issue with CEO Park Ji-won, but was told “Don’t read it” and received feedback from CHRO Kim Joo-young saying “Consider it just one person’s opinion.” I don’t understand why content that lacks objectivity and credibility is distributed to company executives as if it represents the company’s position. The bias is so serious that it even raises suspicions that this may have been distributed for a particular purpose or agenda.”
Source: Daum
