NewJeans’ Donation from University Festival Earnings Is Equivalent to the Price of an Apartment
Girl group NewJeans reportedly donated all the proceeds from their university festival performances to the Korea Student Aid Foundation
The donation, made in the names of ADOR and NewJeans, will be used to support living and housing expenses for low-income college students.
According to industry sources on June 6th, top-tier groups like NewJeans are known to earn about 50 million won per festival appearance. A university official explained that hiring a top-class entertainer costs at least 30 million to as much as 50 million won. Since NewJeans performed at festivals at seven universities, including Korea University, Chosun University, Dongguk University and Chung-Ang University, it is estimated that their total earnings during this period could amount to around 350 million won, roughly equivalent to the price of an apartment.
The Korea Real Estate Board’s “April National Housing Price Trends Survey” reported that the median price of apartments nationwide is 321 million won, with provincial areas being even lower at around 250 million won. The national average apartment price is about 450 million won, and about 256 million won in provincial areas.
At the recent festivals, NewJeans performed their new songs “How Sweet” and “Bubble Gum” among other hits. ADOR and NewJeans stated, “Performing at seven university festivals over a week gave us great strength and much love. We wanted to give back to college students in need, and we are grateful for being given this opportunity.“
ADOR CEO Min Hee-jin also commented at the press conference on May 31st, “We planned to tour university festivals because we needed a lot of practice performing on stage for our world tour next year. Some people misunderstand, thinking we are doing this for money, but we wanted to show our sincerity by donating the earnings.“
During the press conference, Min Hee-jin held back tears while expressing her desire for reconciliation with HYBE, stating, “I hope we can find a good compromise for the greater good. A corporation is not owned by one person but by multiple shareholders. As the CEO of the subsidiary ADOR, my goal is to faithfully and smoothly implement the plans I have with NewJeans. I hope HYBE considers this and that we can find a good compromise.”
Min Hee-jin highlighted NewJeans’ accomplishments, “Is it betrayal if NewJeans achieved in two years what boy groups usually achieve in seven years?” She extended a hand for reconciliation with HYBE, saying, “We have exchanged blows, but let’s not hold grudges.”
Despite the court’s decision to accept Min Hee-jin’s injunction to prevent the exercise of voting rights, allowing her to retain her position, HYBE, which holds 80% of ADOR’s shares, dismissed two of CEO Min’s internal directors and appointed their own executives, CHRO Kim Joo-young, CSO Lee Jae-sang and CFO Lee Kyung-joon, as new internal directors.
