Bang Si Hyuk: father of the global music group BTS, "tycoon" of the HYBE empire

In recent days, Bang Si Hyuk is a name that is being mentioned a lot due to a heated argument with CEO Min Hee Jin about "family turmoil". Rising from difficulties, up to now, President Bang has achieved successes that make many people admire him.

Bang Si Hyuk had a passion for music since he was a child and debuted as a musician and producer in the mid-90s. He participated in a local competition, called the Music competition. Yoo Jae Ha and won 3rd place.

At that time, Bang Si Hyuk's demo product was discovered by Park Jin Young (who is widely known as JYP), founder of JYP Entertainment.

Realizing Bang Si Hyuk's talent, Park Jin Young cooperated and the two of them made music together. The duo became popular musicians. This success also earned Bang Si Hyuk the nickname "Hitman Bang". Under the management of JYP Entertainment, Bang Si Hyuk continues to compose music for K-pop superstar Rain, the group Wonder Girls,...

It can be seen that Bang Si Hyuk was instrumental in laying the first bricks to build JYP, but then left when the company began to develop.

The reason comes from the conflict between the two sides that broke out when the two went to work in the US to look for new opportunities. At that time, the two didn't have any money in their pockets, so they had to stay at a friend's house in America. Then, the two became impatient when a year had passed but they still hadn't sold a single song. This stress caused Park Jin Young and Bang Si Hyuk to often quarrel over trivial matters.

One of those big arguments was about socks. The two talented founders of Kbiz once had a serious argument over socks. JYP President said that because Bang Si Hyuk is one year younger than him, he is responsible for washing clothes. However, the HYPE president is quite dissatisfied with the JYP boss's failure to maintain a clean and tidy lifestyle.

The climax was that after a long tiring day at work, the JYP president continued to leave his socks upside down like that when putting them in the wash basin. This caused Bang Si Hyuk to explode in anger and leave home.

Not long after that, Bang Si Hyuk decided to return to Korea, leaving only an apology for Park Jin Young. Then President Bang founded Big Hit. Until now, Bang Si Hyuk has always respected Park Jin Young. When receiving the award at the 2016 Asia Artist Awards, director Bang thanked Park Jin Young for teaching him many things about music production. Only Park Jin Young still regrets it to this day, because he lost a close friend and a talented collaborator.

In 2005, Bang Si Hyuk decided to establish his own entertainment company called Big Hit Entertainment. However, things did not go smoothly when in 2007, the company almost went bankrupt but was saved thanks to the success of two ballad groups, 8 Eight and 2AM.

In 2010, he started the 7-member boy band, BTS, and officially debuted in 2013. In 2017, BTS released "You never walk alone" (full version of the album "Wings") and the CD lead single "Spring Day". The song debuted on the US Billboard's Bubbling Under Hot 100 chart and eventually, BTS sold out all concert tickets in the US. Forbes reported that Big Hit's net profit increased 172% that year compared to 2016, with a profit of about $22.9 million - the highest the company has achieved since its founding.

As BTS grew stronger, so did Big Hit, and the company acquired shares of other major entertainment companies, such as Pledis Entertainment (which manages the group Seventeen), rapper Zico's Koz Entertainment, and YG Plus , among many other companies.

In March 2021, Big Hit Entertainment restructured and changed its name to HYBE. In June of the same year, Bang Si Hyuk entered the list of the 50 richest people in Korea and ranked 16th (according to Forbes).

Currently under HYBE is BigHit Music - the home of BTS, Pledis Entertainment manages Seventeen, Source Music trains Le Sserafim, BeLift Lab found Enhypen and Ador brought NewJeans to become A-list idols.

Recently, HYBE has been accused of using the title of "BTS juniors" to produce a series of rookie groups but not focusing on long-term development.

These music groups are flashy, the music is easy to listen to and suitable for tastes, while the talent of the artists is limited. They've only practiced for a few months and can't sing and dance fluently.

Many times, HYBE is said to be destroying Kpop by taking over the market, unfair competition and idol industrialization.

The truth is, though, HYBE is always BTS and the rest. Without BTS, HYBE would still struggle even though it owns a system of subsidiaries and a series of large and small music groups under it.

In recent days, Bang Si Hyuk and the HYBE empire are becoming the hottest keywords in the Kpop fan community because of the internal fight with Ador's CEO - Min Hee Jin. Accordingly, Min Hee Jin believes that Bang Si Hyuk intentionally copied NewJeans to create the group ILLIT. HYBE's side presented evidence denying the accusations, accusing Min Hee Jin of intending to usurp management rights and create bad publicity for HYBE's artists.

Currently, with the evidence, behavior, and way of working, Chairman Bang is still more supported by the majority of netizens. Thereby also hoping that he will soon find a solution to end this noise.

NewJeans parents publicly supported Min Hee Jin, netizens sighed sadly Phong Trần15:27:40 23/04/2024Amid the conflict between HYBE and Min Hee Jin, industry representatives revealed that NewJeans parents as well as members all unanimously support the statements and direction of this infamous female CEO.