1.61 million copies were still in inventory as of 2024.
Koreaboo
3 hours ago
ADOR is reportedly facing growing financial pressure as millions of dollars’ worth of unsold NewJeans albums remain in stock.
NewJeans albums | Pinterest
According to a recent report from financial media outlet The Bell, ADOR held ₩15.1 billion KRW (about $9.97 million USD) in inventory assets at the end of 2025. The figure was only slightly lower than the ₩15.8 billion KRW (about $10.4 million USD) recorded a year earlier.
The report stated that most of the inventory is believed to be related to NewJeans.
| ADOR
With the group’s activities completely halted amid its ongoing contract dispute with ADOR, there have been virtually no new album releases or merchandise launches over the past year. As a result, much of the company’s existing inventory has reportedly remained unsold.
While Danielle’s contract was terminated, the other members still have not been active. | Omega
Much of the inventory is believed to be tied to NewJeans’ 2023 mini album Get Up. During the dispute between HYBE and former ADOR CEO Min Hee Jin, HYBE claimed that more than one million copies of the album remained unsold. The company also alleged that 3.5 million copies were produced and that approximately 1.61 million copies were still in inventory as of 2024.
“Get Up” sold more than 1.6 million copies in its first week. | ADOR
The report also noted that the large inventory build-up coincided with ADOR’s return to profitability in 2023. Under accounting rules, unsold inventory at the end of the year can reduce reported costs for that period, thereby increasing operating profit.
The inventory assets that previously boosted profits on paper have effectively become problematic inventory. For ADOR to recover its valuation in the future, it will need to address impairment losses on these accumulated assets and improve capital efficiency through the launch of new business pipelines.
— Industry Insider
| ADOR
The situation has become more noticeable as ADOR’s overall assets declined from ₩96.0 billion KRW (about $63.4 million USD) to ₩78.4 billion KRW (about $51.8 million USD) during the same period. Inventory now makes up a larger share of the company’s assets than before, raising concerns about how quickly those products can be converted into cash.
Former ADOR CEO Min Hee Jin | The Korea Herald
One of the clearest signs of the issue is the company’s inventory turnover rate, which measures how quickly inventory is sold. According to the report, ADOR’s inventory turnover fell from 4.74 times in 2024 to just 0.72 times in 2025. The average time needed to sell inventory also increased dramatically, from 77 days to 504 days.