Belift Lab Sues Netizens and HYBE’s Stock Decline

Belift Lab announced it had filed lawsuits against hundreds of netizens for posting malicious comments about ILLIT and its members. This move comes amid an ongoing controversy involving accusations of plagiarism against ILLIT, made by ADOR’s CEO Min Hee-Jin.

Belift Lab stated, “We have taken legal action against individuals who have defamed, insulted, sexually harassed, spread false information, and maliciously criticized ILLIT. We have filed complaints with the police against hundreds of defendants, and investigations are currently underway. Additionally, we continuously monitor and collect evidence of malicious posts and will regularly file complaints.”

The company has been gathering evidence of defamatory comments from all domestic and international channels. They then submitted all collected evidence to the investigative authorities.

Ongoing Plagiarism Dispute

Previously, ILLIT faced accusations of plagiarizing the group NEWJEANS from HYBE’s subsidiary label ADOR. Belift Lab is also pursuing a civil lawsuit against Min Hee-Jin, who claimed that ILLIT had plagiarized NEWJEANS.

Belift Lab emphasized, “We clearly state that the plagiarism allegations against our artists ILLIT made by CEO Min Hee-Jin are untrue. We have submitted evidence to the judicial authorities to prove that these allegations are false, and we will determine the truth through legal procedures, even if it takes time.”

Impact on HYBE’s Stock Price

On June 10, Belift Lab uploaded a video titled ‘Belift Lab’s Position on Plagiarism Claims’ on its YouTube channel, aiming to refute the plagiarism allegations raised by Min Hee-Jin. However, both industry insiders and netizens criticized the rebuttal as being forced, leading to significant backlash.

The following day, HYBE’s stock closed at 198,000 KRW (USD144.41) per share, down 2.22% from the previous trading day. Despite BTS member Jin completing his military service and being discharged on June 12, the stock price continued to decline, with many pointing to the video posted by Belift Lab as the primary reason for the drop.

Some analysts believe that Belift Lab’s actions were seen as a negative response to Min Hee-Jin’s reconciliation offer to HYBE during a press conference after she avoided dismissal from her CEO position at ADOR. This perception has contributed to the decline in HYBE’s stock price.

Continued Popularity of ILLIT

Despite the controversies, ILLIT’s debut mini-album’s title track Magnetic has enjoyed prolonged popularity on the US Billboard charts. As of the latest chart dated June 8, Magnetic ranked 17th on the Global Excl. U.S. chart and 21st on the Global 200, marking its 10th consecutive week on the charts.