She was released from the company in 2017.
Koreaboo
Amid the issues plaguing HYBE, a former employee shared their experience with the company.
HYBE founder and chairman Bang Si Hyuk is being investigated by the Financial Supervisory Service (FSS) on suspicion of misleading investors into selling their shares to a private equity fund (PEF) that one of his close associates founded.
A search and seizure warrant was executed for another financial investigation involving HYBE, while a warrant regarding Bang Si Hyuk’s alleged activities has been submitted.
HYBE Faces Multiple Search And Seizure Warrants Over Alleged Financial Frauds
On June 7, KST, a viral forum post containing a message from former BIGHIT Communications Director Elly Chae Eun became a topic of discussion.
In the post made on her Threads account, the former director claimed that she was forced out of her position, and hinted at the “greed” of HYBE. She also “cleared” BTS, admitting that they deserved their position in the company, over officials who “came in.”
“[Truly Evil]
This is the hidden story behind the process of being promoted to an executive — something even I didn’t know.
It was normal to get work instructions through KakaoTalk or phone calls in the middle of the night. I used to sleep with my phone next to me all the time. I lost 7kg over two years after joining the company and even had symptoms of hair loss. I poured my heart into my work, taking care of the company’s male idols — “sons of others” — rather than my own precious children.
And yet, the company just dismissed me saying I ‘no longer suited their preferences.’ Later, they got into business with acquaintances and handed them hundreds of billions of won (₩50 billion, ₩100 billion) without hesitation. Those people didn’t contribute even once when the company was struggling and trying to grow.
I sincerely congratulated the BTS members when they were given shares and became wealthy. They absolutely deserved everything they achieved — those seven were the beginning of HYBE itself. But the ones who later swooped in and devoured shareholders’ stocks at cheap prices, who went behind people’s backs… people who played golf with corporate cards, lounged in luxury rooms, drank alcohol — they are the real evil ones.
Truly evil.
I will fight to the end.
Quietly, according to the law.”— Elly Chae Eun
Also included in her post was a screenshot of an article, seemingly discussing what she referenced in the post.
HYBE successfully went public according to the scheduled designated audit timeline, and three individuals earned about 200 billion KRW each as performance bonuses.
Former executive Kim received around 100 billion KRW, while the two CEOs, Yang and Kim, each took home about 50 billion KRW.These three figures acknowledged each other’s contributions during the distribution process, but in the acquisition of shares from existing investors and the IPO process, there was no objection to former director Kim receiving half, given their communication with Chairman Bang.
The remaining amount distributed between the two CEOs, Yang and Kim, reportedly caused internal conflict.
The one who ended up with the largest cash payout was Chairman Bang, who reportedly received a total of around 400 billion KRW, including a 200 billion KRW lump-sum payment from Eastone PE and others.— Article
Elly Chae Eun was fired from BigHit in 2017.
You can read more about the investigation into Bang Si Hyuk below.
HYBE Shares Plummet After Sudden Investigation On Bang Si Hyuk’s Alleged Illegal Activities
