CHANGE ATOP HYBE

Park Ji-won will replace Bang Si-hyuk as CEO of the K-pop powerhouse HYBE as the exec who drove the global success of BTS returns to music production.

Bang Si-hyuk will remain on the board of directors and participate in the decision-making of core projects as HYBE kick-starts its global efforts. Park Ji-won was brought in from game publisher Nexon Korea to handle HYBE Labels' management strategy and overall operations; HYBE America will be overseen by CEO Yoon Seok Joon and Scooter Braun, whose company HYBE acquired in April. HYBE was formerly Big Hit Entertainment.

The move, HYBE said in a statement, is “due to a strong will to take the lead in changing the overall system of leadership so as to realize mid- to long-term business plans and to become a globalized company," part of a plan to “fully transplant the K-pop business model to the U.S. market.”

Additionally, HYBE Japan has been established as an independent label under CEO Han Hyuk Rok, who will soon introduce a new boy group.