On April 21st, Nate reported that the Seoul Metropolitan Police Agency had requested an arrest warrant against HYBE’s president, Bang Si Hyuk, for violating the capital markets law, specifically for fraudulent business practices. According to the investigation, prior to HYBE’s IPO in 2020, Bang Si Hyuk allegedly provided false information to investors in 2019, leading them to believe the IPO project would be delayed. He then repurchased shares and transferred them to a special entity linked to the investment fund he had created, reportedly making a profit of around 190 billion won ($3.4 billion). Authorities believe this process shows signs of “fraudulent transactions for personal gain.” Since last September, the police have summoned him five times for questioning before seeking his arrest. At the end of 2024, authorities requested a search warrant, which was rejected twice by the prosecution, citing the need to await the conclusions of the Financial Surveillance Authority. Currently, after an in-depth review, the case appears to be entering its final phase. It is worth noting that this arrest warrant request comes about five months after the last summons, in November 2025. Regarding this incident, the US Embassy in South Korea reportedly sent a letter requesting necessary assistance to Bang Si Hyuk so he could leave the country to attend the 250th anniversary celebrations of American Independence Day on July 4th and participate in activities related to BTS’s world tour. However, he is currently under a travel ban. Bang Si Hyuk, born in 1972, is a renowned music producer and businessman known for the global success of BTS. Before founding Big Hit Entertainment (HYBE’s predecessor) in 2005, he worked at JYP Entertainment under Park Jin Young. Information about the incident: The entertainment mogul denies allegations of 500 billion won fraud and denounces an organized attack. SOUTH KOREA – Confronted with a series of financial scandals and fraud allegations, CEO Cha Ga Won announced strong legal proceedings. Source: https://vietnamnet.vn/ong-trum-giai-tri-doi-dien-lenh-bat-giu-vi-nghi-thu-loi-bat-chinh-3-400-ty-dong-2508496.html
