Another Long Day at the Station
Bang Si-hyuk—founder, chairman, and the brain behind HYBE (a.k.a. the home of BTS)—spent nearly 12 hours in police custody yesterday in Seoul, answering questions about suspected unfair trading. This comes just over a month after his first appearance concerning similar allegations tied to HYBE’s 2020 stock market debut.
Silent Exit, No Answers
Bang emerged from the Seoul Metropolitan Police Agency’s Financial Crime Investigation Division at 10:34 p.m. after the marathon session. He refused to take questions from the press, opting for determined silence as cameras flashed around him.
The Backstory: Suspicions Around HYBE’s IPO
The scandal first erupted when financial watchdogs raised red flags over HYBE’s initial public offering. Authorities allege that Bang misled investors by claiming there were no IPO plans—only to sell shares to a private equity fund (PEF), and later cash in after the actual IPO. According to investigators, Bang pocketed approximately ₩120 billion (around $90 million), while the total benefit to him and co-investors may have hit ₩190 billion.
In July, Bang was officially accused of violating Korea’s Capital Markets Act, which forbids unfair trading practices. Since then, eyes have been glued to the corridors of power at HYBE, with fans and analysts alike wondering what’s next.
First Time Around, More Talkative
During his first summons on July 15, Bang at least cracked the door open to the media. “I apologize for the concern caused by this matter relating to me,” he said. “I’ll answer everything sincerely during the investigation.” This time? Nada. Just a silent walk to his ride home.
What This Means for HYBE and the Hallyu Economy
HYBE isn’t just a record label—it’s a titan of the Korean Wave economy, home to global powerhouses like BTS, SEVENTEEN, and LE SSERAFIM. With Bang at the helm of both business and vision, his legal woes could cast a long shadow, especially in a year where K-pop stocks are under tight scrutiny from investors worldwide.
The case is far from closed, and speculation is swirling. Will Bang be formally charged? Could this shake investor confidence in HYBE—or the K-entertainment market overall? Stay tuned. The next chapter of this legal drama is still being written.
