SEOUL, South Korea (CelebrityAccess) – Hybe, the South Korean expertise company behind common Okay-pop teams resembling BTS and NewJeans, introduced CEO Park Ji-won plans to has stepped down from his management position on the firm.

In a separate letter despatched to Hybe’s workers, Park stated he plans to stay with the corporate in an advisory position that enables him to leverage his experience and networks, South Korean’s Yonhap Information Company reported.

Park first joined Hybe in 2020 and was elevated to the position of CEO in 2021, succeeding the corporate’s present chairman and former CEO, Bang Si-hyuk.

Throughout his tenure, Park oversaw the corporate throughout a interval of progress that included its public itemizing on the Korea Change in addition to the acquisition of the U.S.-based Ithaca Holdings in 2021.

Following the information of Park’s exit, Hybe introduced that Chief Technique Officer Lee Jae-sang will step into the CEO position pending board approval, Yonhap reported.

Lee joined Hybe, then referred to as Huge Hit in 2018. He beforehand held senior roles at Hyundai Motor Firm and Google.