The Hybe headquarters, an agency that manages the Global K-pop Boy BTS group, was charged on Thursday by the South Korean Police for accusing the unjust trading of shares concerning the Chairman of the Company, Bang Si-Hyuk.
According to media reports, the country’s financial regulatory body has ceded to Bang to prosecutors to explore its activities during the company’s stock market list.
“We are making a search and seizure at the Hybe headquarters in the Yongsan district,” Metropolitan, a unit for investigating financial crimes, said in a short statement.
Before the 2020 IPO, Bang and three other executives were accused of “deceived” investors on the sale of their shares of the investment company they controlled. Media reports suggest that these executives eventually benefited from the sale of shares on the list.
According to local reports, he is accused of won approximately 200 billion victories ($ 146 million).
Hybe promises “Active Cooperation”
Hybe denied that Bang had committed any unlawful conduct.
“We will clearly explain that the extract at that time was made in accordance with all relevant laws and regulations,” the company said in its statement in early July and undertook “active cooperation” with the authorities in the case investigation.
“We will have the time we need to thoroughly show that the IPO has been done in full compliance with laws and regulations,” Hybe said.
Bang is the founder of HYBE and the largest shareholder.
BTS Comeback Tour 2026
The investigation comes when all seven BTS members complete their compulsory military service and prepare for the return next year.
At the beginning of this month, Hybe announced that a new album BTS and World Tour was planned for 2026.
BTS, known for browsing progressive causes, holds the record as the most prominent group on Spotify and became the first act of K-POP, which in the United States at the peak of both Billboard 200 and artist Billboard Artist 100.
According to the Korean Institute for Culture and Tourism, before their military service, the BTS generated more than 5.5 trillion victory ($ 4 billion) an annual economic impact.
According to official data, this is about 0.2 % of the total GDP of South Korea.
(With the entry from agencies)
(Tagstotranslate) BTS Members
