SEOUL, July 24 — Current HYBE CEO Park Ji-won will reportedly resign from his position.

According to an exclusive report from MTN, Park has decided to step down as CEO.

"From my understanding, Park shared his position [on retirement] after recently completing his project of attracting outside investment for one of HYBE’s affiliates,” an insider told MTN.

Park Ji Won joined HYBE as CEO in May 2020 after a successful stint with Nexon and carried out the company’s IPO process, rebranding and multi-label system.

HYBE has shared a statement with both MTN and Joy News24, saying that nothing has been decided yet regarding Park’s future.

The company added that they cannot elaborate in any detail.

Under its multi-label system, HYBE is home to K-pop supergroup BTS, popular girl groups Le Sserafim and NewJeans, among other acts.