On October 1, MBN has reported that HYBE chairman Bang Si-hyuk is at the moment below a journey ban. This ban is in reference to allegations of unfair buying and selling price 190 billion received.
In response to the report, the Seoul Metropolitan Police Company’s Monetary Crimes Investigation Unit has imposed the restriction on August 11. It has been executed instantly following Chairman Bang’s return to South Korea. He’s being investigated on suspicion of violating the Capital Markets Act.
The police investigation facilities on accusations that in 2019, Bang allegedly misled traders by denying any speedy plans for HYBE to go public. Following this, he’s suspected of getting bought firm shares to a personal fairness fund, which has been established with investments from former HYBE executives. This has alleged to have resulted in illicit earnings totaling an estimated 190 billion received.
HYBE Chairman Bang Si-hyuk below scrutiny in widening probe over alleged 190 billion KRW IPO misconduct
The pinnacle of HYBE, Chairman Bang Si-hyuk, was at the moment the main focus of a widening investigation. When HYBE efficiently listed in October 2020, the personal fairness fund reportedly bought its acquired shares, realizing substantial positive factors. Investigators declare Bang personally benefited by receiving roughly round 190 billion KRW from the deal.
This quantity allegedly included a 30 % share of resale earnings by way of a confidential nondisclosure settlement. This contract’s confidential nature and alleged omission in the course of the IPO evaluation have drawn explicit scrutiny from investigators
Underneath South Korea’s Capital Market Act, deceptive traders or utilizing fraudulent strategies in unlisted inventory transactions carries strict penalties. For earnings exceeding 5 billion KRW, the legislation permits sentences of as much as life imprisonment.
Bang Si-hyuk denied all allegations of wrongdoing. His representatives keep that the IPO course of was performed strictly in accordance with regulatory procedures and that the contracts established with the personal fairness fund have been totally clear.
Whereas Bang has publicly apologized for the issues generated by the investigation, he insists that the corporate’s itemizing itself adhered to all laws. Trade observers even have identified that some traders made cash from the gross sales, including complexity to the case.
Investigators have already carried out raids at umbrella firm’s headquarters in Yongsan and on the Korea Alternate. They’ve questioned Bang twice and are anticipated to summon him once more.
The Monetary Providers Fee has filed a felony grievance, whereas the Monetary Supervisory Service is conducting a separate evaluation. Authorities are additionally analyzing seized paperwork and contemplating measures to make sure Bang’s cooperation, together with a journey ban.
On September 22, 2025, he seems on the Mapo workplace of the Seoul Metropolitan Police Company’s Monetary Crimes Investigation Unit for a second spherical of questioning. That is only a week after his preliminary summons. Officers have steered that additional questioning periods will comply with because the investigation continues.
The main target stays on the hole between Bang’s 2019 statements and HYBE’s eventual IPO. The end result will decide whether or not he faces trial below the Capital Market Act.
Edited by Adrija Chakraborty
