Hybe, the K-pop powerhouse behind BTS and NewJeans, said Wednesday that it has named Chief Strategy Officer Lee Jae-sang as the new CEO to lead the firm's push for global expansion and new growth strategies. Lee will replace the current CEO, Park Ji-won, to spearhead Hybe's initiative to transform itself into an advanced "entertainment lifestyle platform" company based on music content and technology, Hybe said in a statement. Lee previously worked at Hyundai Motor Co. and Google Inc. before joining the BTS agency in 2018. Since then, he has played a leading role in Hybe's acquisitions of and mergers with local music labels and other firms, as well as in Hybe's initial public offering. In a separate letter sent to employees, Park said he will remain at Hybe in a role where he can capitalize on his expertise and networks. Hybe said Lee will officially take office after gaining endorsement at a meeting of shareholders and the board of directors. Source: Yonhap News Agency