Reports suggest that Park Jiwon, CEO of HYBE, might resign, but HYBE has stated that no decision has been made. This news has sparked positive reactions in some Korean communities, particularly those supporting Min Heejin, due to existing internal conflicts. The situation highlights the ongoing integration and tension between gaming and entertainment industries.
News of Resignation
According to Money Today, Park Jiwon, the CEO of HYBE, has announced his resignation. This news comes four years after Park left Nexon to join HYBE. Money Today reported that Park decided his future after concluding an external investment attraction project for one of HYBE’s subsidiaries.
HYBE’s Official Stance
However, Dong-a Ilbo reported that HYBE has stated no definitive decisions have been made. Park Jiwon previously held roles as CEO of Nexon Korea and COO of Nexon Japan Global. He joined HYBE in May 2020 as CEO of Big Hit Entertainment HQ, which later rebranded to HYBE. During his tenure, he was instrumental in leading HYBE’s successful IPO and restructuring the company into a multi-label system. His efforts contributed to HYBE being designated as the first entertainment company among large conglomerates in South Korea.
Uncertainty and Community Reactions
Currently, it remains unclear whether Park Jiwon will indeed leave HYBE. Nonetheless, this news has been well-received by many on the Korean community site Instiz. This reaction is likely due to Instiz’s support for Min Heejin, who is seen as a rival to Park Jiwon within HYBE. Instiz members express a desire for Park’s departure but are skeptical that significant changes will occur as long as Bang Sihyuk remains at HYBE. Some speculate that recent conflicts between ADOR and HYBE might have influenced Park’s position.
The Blurring Lines Between Industries
Many professionals from the gaming industry, including Park Jiwon, have entered the entertainment sector. As the boundaries between these industries blur, the concept of comprehensive entertainment is becoming central. Entertainment companies are starting to produce games using their IPs, while companies specializing in mobile content creation are using their technology to create virtual idols, thus entering the entertainment industry. HYBE has been preparing for this shift since 2021 by establishing HYBE IM, staffed primarily with executives from the gaming industry.
Fan Sentiments
Idol fans generally do not favor the influx of gaming industry professionals into entertainment. They seem to have a resistance to the idea, believing that the comprehensive entertainment concept does not positively impact idols. This sentiment is reflected in Korean women’s communities like Instiz, where Park Jiwon faces rejection partly due to his gaming industry background. Additionally, the conflict between Min Heejin and HYBE exacerbates their dislike for Park. Ultimately, the future of Park Jiwon’s position remains to be seen.
I appreciate you taking the time to read this post. Please share your thoughts in the comments!
Blurring lines between gaming and entertainment, what’s it gonna do to idols? Good thing?