HYBE Chairman Bang Si-hyuk Attends Police Questioning
On the morning of July 15, Bang Si-hyuk—the chairman and founder of HYBE, the powerhouse behind BTS and NewJeans—arrived at the Seoul Metropolitan Police Agency in Mapo-gu. His appearance follows a criminal complaint filed against him over alleged violations of South Korea’s Capital Markets Act.
“I’ll Answer Everything in the Investigation”
Surrounded by reporters, Bang kept his statement brief. “I’m sorry to cause concern over a personal matter. I will sincerely cooperate with the investigation,” he said. When pressed further, he replied, “I’ll speak through the investigation today,” before entering the building.
The Accusations: IPO Deception and Private Equity Deals
Back in July, financial regulators accused Bang of misleading investors during HYBE’s initial public offering (IPO) process in 2020. According to authorities, he allegedly claimed there were no IPO plans and then sold company shares to a private equity fund (PEF). He later signed a contract granting him roughly 30% of the profits from the PEF’s shares after HYBE went public.
Investigators believe his actions deceived existing shareholders and allowed him and his co-investors to pocket a combined 190 billion won (roughly $140 million USD). Bang personally is said to have gained nearly 120 billion won.
What’s Next for Bang and HYBE?
As one of the most influential figures in the K-pop industry, any legal development involving Bang Si-hyuk sends ripples through the entertainment world. While HYBE has stated it will fully cooperate, the outcome of this investigation may impact investor trust and corporate leadership dynamics at the label home to global stars.
Whether this controversy will grow into a more damaging scandal or quietly settle will depend on new findings in the case. But for now, the founder of K-pop’s most successful empire finds himself firmly in the public eye—for very different reasons than usual.
