Big Hit Corporation to Become HYBE Corporation

 

 

 

One of the top Entertainments of Korea, formerly known as Big Hit, went public with their company last year and will now officially change the name of their corporation to HYBE Corporation from Big Hit Corporation. Netizens have expressed mixed feelings in many social media platforms regarding this.

In a listing ceremony held in October 2020 the Chairman of Big Hit said,

We will vigorously move forward as the world’s best entertainment lifestyle platform company that can affect the whole life of everyone living in the present.

                                                                                                                                             – Bang Si Hyuk

According to sources, fans of BTS aka ARMY, noticed documents that involved the matter of name change of Big Hit. Shortly after this, Big Hit officially made their announcement regarding this matter, via a report filed to Korea’s Financial Supervisory Service. Further, a general shareholder’s meeting is being scheduled on March 30 at the Dragon City Hotel, 9 AM KST. This meeting is expected to cover the name change of the company to HYBE and appointing Bang Si Hyuk as an internal director.

Check out Naver’s post on the official announcement. 

The following picture is a part from the legal document.

 

Contents before change:

Article 1, Company Name. The involved company is named “Big Hit Entertainment Corp.” In English, it is written as “Big Hit Entertainment Co. Ltd.”

Article 4, Publication of Official Notification Methods. The company publishes notifications via its internet homepage (http://www.ibighit.com). But, in the case of any data barriers or other disadvantageous reasons where the company is unable to publish on the official homepage, they publish via The Korea Economic Paper, which is a daily paper within Seoul Metropolitan City.

Contents after change:

Article 1, Company Name. The involved company is named ‘HYBE Corp.’ In English, it is written as ‘HYBE Co. Ltd.’

Article 4, Publication of Official Notification Methods. The company publishes notifications via its internet homepage (http://www.hybe.co). But, in the case of any data barriers or other disadvantageous reasons where the company is unable to publish on the official homepage, they publish via The Korea Economic Paper, which is a daily paper within Seoul Metropolitan City.

Reason for change:

Company name change.

In simple terms, Big Hit Corporation is the parent company, whose name will change to HYBE Corporation. But the label under which BTS and TXT are, will remain the same. 

This move comes as an transformation from a management company to a comprehensive content company. Music production, management, and internet business are already listed as HYBE’s purposes. Along with the listed, HYBE will also oversee real estate by renting out practice rooms and other spaces for their subsidiary companies and affiliates. Big Hit, not just home to BTS, TXT, and soloist Lee Hyun, is also home to many subsidiaries like Source Music, Pledis Entertainment, Belift Lab, and KOZ Entertainment. 

Sources also say that, previously Bang Si Hyuk mentioned that the company label “Entertainment” is henceforth not included in everything the agency will hereafter offer. This new name change will inaugurate the commencement of their venture as a comprehensive content company. Further, the company’s website will change from “http://www.ibighit.com” to “http://www.hybe.co”

HYBE’s tagline happens to be “We Believe In Music.” The members of BTS and GFRIEND, on Twitter and Weverse app respectively, posted their pictures along with the same hashtag #WhatDoYouBelieveIn, which intend attributed to the name change. Hashtags like #WhatDoYouBelieveIn #BigHit #BTSWORLDDOMINATION #1MOTS7ALBUM and #HYBE trended. The most funny hashtag that trended was #JinHiT. It is commonly known among ARMYS that Jin Hit joked about him owning Big Hit and that he would name it Jin Hit. ARMYS trended this joke.