HYBE Named Among ‘World’s 50 Most Innovative Companies’ by Fast Company: NewJeans’ Impact Highlighted

HYBE has elevated music to the realm of commercial art through NewJeans.

HYBE announced on March 19th (local time) that the company has been selected as one of the ‘World’s 50 Most Innovative Companies 2024’, released by the US economic journal ‘Fast Company’.

Fast Company has been selecting companies that influence industries and cultures overall with innovative attempts every year since 2008 as ‘The World’s 50 Most Innovative Companies’. Fast Company not only announces the overall rankings of the top 50 innovative companies but also selects and announces rankings for each industry sector. 

HYBE was previously selected as one of the top 50 innovative companies in 2020 and 2022, and it has risen to the list for the third time this year.

Among the companies selected as the top 50 innovative companies this year are global giants such as NVIDIA (1st place), Microsoft (3rd place), YouTube (7th place), Google (30th place), and UMG (45th place). Among them, HYBE recorded the only comprehensive ranking of 23rd place among domestic companies. It also ranked 2nd place in the design sector.

Fast Company cited the strategy of Min Hee-jin, CEO of subsidiary label ADOR under HYBE, and the activities of NewJeans as the background for selecting HYBE. 

It is noted that NewJeans, with their unique analog atmosphere, songs close to R&B, and dreamy visuals, has represented the nostalgia of the 90s. Furthermore, NewJeans’ distinctive identity, from albums like ‘New Jeans’ to ‘OMG’ and ‘Get Up’, has witnessed global popularity. The five members of NewJeans have also been active as ambassadors for global fashion brands.

Fast Company analyzed that NewJeans has elevated music to the highest level of commercial art. Global brands like Apple, Nike, and Coca-Cola have also worked with NewJeans. 

Rather than simply featuring artists in brand campaigns, they have been drawn into the world of NewJeans to develop campaigns in a new dimension. Examples discussed include shooting the ‘ETA’ music video with Apple iPhone 14 Pro to showcase stable camera technology, collaborating with Coca-Cola on the song ‘Zero’ to blur the boundaries between advertising and music, and reinterpreting a scene from the ‘Ditto’ MV to effectively showcase Nike products.

It was evaluated that the sense of Min Hee-jin, CEO from an art director background, played a significant role in building NewJeans’ identity. 

In an interview with Fast Company, Min Hee-jin said, “My career path from a graphic designer to a producer has become my own strength, which allows me to express images not only visually but also through sound.”