The full report spans about 2,000 pages, and if fully revealed, it is expected to have significant ramifications across the entertainment industry. There is also growing interest in the relationship between former Weverse Magazine Director K, who wrote the report, and HYBE’s chairman Bang Si-hyuk.
According to Sports Seoul on Oct 30th, multiple insiders indicated, “The format of the report written by K is very similar to the weekly reports he used to write as a journalist. It mixes information gathered from meetings with sources and trends from online forums. What’s been disclosed is just a fraction.”
The report was crafted entirely to suit Chairman Bang’s intentions. Insider A, familiar with K, stated, “The Bang Si-hyuk I know combs through every single forum. He’s very sensitive to industry trends and opinions. K meticulously sifted through various fandom forums, including X (formerly Twitter), and compiled everything he found into a report.“
The relationship between Chairman Bang and K dates back to the 2000s. K worked at JYP Entertainment, and their relationship began around 2005 when Bang founded Big Hit Entertainment. Later, K became an editor-in-chief at a media outlet while also handling consulting for entertainment agencies. It’s reported that K’s neglect of their editor-in-chief duties caused dissatisfaction among journalists at the time. The two maintained their relationship over the years, and when Bang established HYBE, K moved to become the editor-in-chief of Weverse Magazine, joining forces once again.
Chairman Bang frequently engaged with talented journalists and critics. Insider B shared, “Before an album release, about ten days prior, Bang would gather music critics, play the album for them, and take them out for meals. I’ve been to such gatherings. He would approach those whose writing he admired, intending to work with them. Because of K’s influence in the industry, K was brought in at the executive (C-level) rank.“
While K held the position of editor-in-chief at Weverse Magazine, K devoted much of their energy to writing reports for executives, including Chairman Bang. Insider A noted, “From Bang’s perspective, he needed executives, many of whom came from gaming companies, to have an accurate understanding of the entertainment industry’s trends. That’s why he paid K a significant salary, rather than relying on journalists or critics. Weverse Magazine was just one of many tasks K handled; the two aren’t just casual acquaintances, they’re genuinely close.”
The document obtained by Sports Seoul contains comments on appearances and stage practice, among other things. C, a representative from another agency who knows K, remarked, “There are too many non-factual elements in the report. Even though we’ve known each other, I don’t understand why K wrote such things.”
D, an executive from the agency of a singer mentioned in the report, commented, “Monitoring fandoms is something all companies do, but if the kind of monitoring report that was exposed is representative, then the (intent to degrade) is far too blatant. How can they accurately assess an artist’s standing with such biased information? If all 2,000 pages of the report contain similar content, it’s horrifying to think about.”
D added, “HYBE controls more than 50% of the market share in K-pop. It’s not just any entertainment company. They shouldn’t be operating this way. If they denigrate other artists, it inevitably reflects poorly on their own. They’ve made it seem like only their artists are perfect while everyone else is a mess. This issue is bound to keep making headlines, but it’s not just a competitor problem—it’s degrading the entire K-pop industry, which makes it too regrettable to ignore.“
It has been reported that while these reports were being continuously produced within HYBE, former ADOR CEO Min Hee-jin repeatedly raised concerns, but they were ignored.
In an email sent to HYBE’s management on April 16th, Min stated, “The ‘Industry Trend Review’ document circulated weekly by K, the editor-in-chief of Weverse Magazine, consistently contained biased and slanted content. ADOR has previously objected, stating that factual data, such as numbers and indicators, are necessary, and that a minimal level of objectivity must be maintained.”
Min further revealed, “I also raised this issue with CEO Park Ji-won, but was told ‘Don’t read it’, and received feedback from CHRO Kim Joo-young to ‘Just consider it one person’s opinion’. I don’t understand why content lacking in objectivity and credibility is being distributed to the company’s executives as if it represents the company’s stance. The bias is so severe that it even raises suspicions that this may have been distributed for a particular purpose or agenda.”
Source: Daum
