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HYBE stock price rises thanks to the effect of Min Hee Jin’s girl group New Jeans 

The “New Jeans Effect” is real. 

According to the Korea Exchange on July 29th, HYBE closed the day at 175,500 won, up 3.54 percent from the previous day. At the beginning of the market, it even jumped by 4.50% amid favorable news such as New Jeans‘ album sales.

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Recently, HYBE introduced New Jeans, a new girl group under its label ADOR run by CBO Min Hee Jin. New Jeans’ official debut date is August 1. Even before they are officially launched, high expectations for the group have affected HYBE’s stock price.

New Jeans’ debut album “New Jeans”, which began its pre-sale on July 25th, surpassed 444,000 copies as of July 28th, the third day, recording an unprecedented record for a rookie girl group. New Jeans’ first-week album sales are expected to exceed 500,000 copies, surpassing the highest first-week sales record of 300,000 copies of the debut album “FEARLESS” by HYBE’s first girl group LE SSERAFIM, which debuted in May.

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Before working at HYBE, Min Hee Jin was recognized for her abilities by directing the visuals, artwork, and concepts of popular groups such as Girls’ Generation, f(x), Red Velvet, and EXO during her time at SM. The reason New Jeans’ overall strategy such as member composition and concept received much attention even before their debut is that it can serve as an indicator of the success or failure of Min Hee Jin, who has left SM. The same goes for the pioneering plan of Bang Si Hyuk, who boldly entrusted a label to Min Hee Jin. 

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Currently, HYBE’s biggest concern is making sure their junior groups can make up for the absence of BTS due to upcoming military service. BTS’s direct junior, Tomorrow X Together (TXT), is doing well in the US market. However, it seems that it will still take time to nurture a girl group to emerge in the global K-pop market that has entered a transitional period. LE SSERAFIM made headlines with their debut but went through a tough time due to former member Kim Garam’s controversy

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New Jeans is seeing a successful start, and the anticipation for them has been reflected in HYBE’s stock price. The public and industry officials are paying attention to what kind of achievements and records New Jeans will get this August, and whether they will be able to establish themselves as HYBE’s representative girl group along with LE SSERAFIM.

Source: daum

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