What’s going on with Bang Si-hyuk?
Bang Si-hyuk, the man behind K-pop behemoth HYBE and the brains who helped launch BTS into global superstardom, is now making headlines for very different reasons. On May 22, Bang appeared at the Seoul Metropolitan Police Agency as a suspect in an ongoing investigation into alleged stock manipulation tied to HYBE’s IPO (initial public offering) in 2020.
The billion-won question: What are the allegations?
So, here’s the breakdown. Back in 2020, as HYBE (then Big Hit Entertainment) prepared to go public, Bang allegedly told investors there were no IPO plans. Meanwhile, he reportedly sold shares to a private equity fund (PEF), then struck a sweet post-IPO deal that allegedly earned him a hefty 120 billion KRW (about $88 million). When you include his co-investors’ gains, that total shoots up to 190 billion KRW (around $140 million).
Authorities believe the moves misled existing shareholders—a serious offense under South Korea’s Capital Market Act, punishable by up to life in prison.
Bang keeps quiet during questioning
This wasn’t Bang’s first trip to the station. He previously showed up on May 15 and spent nearly 13 hours being grilled by investigators. That day, he offered a brief comment before walking in: “I apologize for the concern. I’ll participate in the investigation sincerely.” After the long session, he silently slipped into a waiting car without answering reporters’ questions.
High-stakes investigation
The heat turned up last year when South Korean authorities raided both the Korea Exchange and HYBE’s headquarters, seizing documents related to the IPO. What started as whispers about shady dealings has now escalated into a major financial probe involving the country’s top music mogul.
K-pop’s darker flip side?
This scandal has stunned the Hallyu world. Bang Si-hyuk, once known purely as the “Hitman” who rewrote K-pop’s rulebook, is now entangled in a courtroom drama that could rival any K-drama twist. As the investigation deepens, the industry—and the fans—are watching closely.
What’s next for HYBE and Bang?
Bang’s legal troubles could have serious ripple effects across HYBE’s business, especially with global investors tuned in. In a world where every trainee video and teaser is dissected by millions, transparency is everything. So can HYBE weather this storm with its brand—and Bang’s legacy—intact?
