Bang Si-hyuk, chairman of HYBE, will be referred to the prosecution this week over allegations that he deceived investors into selling their shares before the company went public. Police said he is suspected of violating the Capital Markets Act and making nearly 200 billion won in illegal profits. Investigators began the case in December 2024 and carried out a full-scale probe in July last year, including a raid on HYBE headquarters. Sources said police were expected to refer the case without seeking his detention.
Bang Si-hyuk, chairman of K-pop powerhouse HYBE, answers reporters' questions after arriving at the Seoul Metropolitan Police Agency in Seoul, Sept. 15, 2025, over allegations of violating the Capital Markets Act. Korea Times photo by Kang Ye-jin
Bang Si-hyuk, chairman of K-pop powerhouse HYBE, will be referred to the prosecution this week for possible indictment on suspicion of deceiving investors into selling their stakes in his company, police said Monday.
"We plan to forward the case to the prosecution within the week," Hong Seok-ki, head of the National Office of Investigation, told a press briefing.
Bang is accused of violating the Capital Markets Act by deceiving investors into selling their stakes in Hybe in 2019, just before the company went public, making nearly 200 billion won ($145 million) in additional and illegal profits.
