15 September 2025
HYBE founder Bang Si-hyuk appears for police questioning over stock fraud case
Korea JoongAng Daily - Daily News from Korea
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This article is by Kim Ji-hye and read by an artificial voice.
Bang Si-hyuk, chairman of K-pop powerhouse HYBE, appeared for police questioning on Monday morning on suspicion of misleading investors and engaging in unfair trading practices ahead of the company's initial public offering (IPO).
The Seoul Metropolitan Police Agency's Financial Crimes Investigation Division summoned Bang to ask about allegations that he misrepresented HYBE's IPO plans in order to buy back shares through a private equity fund connected to him.
Bang arrived at the agency's Mapo District office in western Seoul around 9:55 a.m wearing a navy suit.
"I apologize for causing concern with this matter," he told reporters. "I will fully cooperate with the investigation today."
When asked if he had instructed investors to sell their shares or if he denied listing plans at the time, he replied, "I will explain during the investigation."
Police suspect that Bang in 2019 assured venture capital firms and other early investors that HYBE had no plans to list the company, then urged them to sell their holdings to a private equity fund with ties to him. The investors say they trusted his statements, but the company had already begun preliminary steps toward an IPO.
Investigators believe Bang secured illicit gains of about 190 billion won ($136 million), including 30 percent of the profit from the private equity fund's resale of HYBE shares.
Police began their probe late last year. Officials at the Financial Supervisory Service with special judicial police authority are also examining the allegations under the direction of prosecutors.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
Bang Si-hyuk, chairman of K-pop powerhouse HYBE, appeared for police questioning on Monday morning on suspicion of misleading investors and engaging in unfair trading practices ahead of the company's initial public offering (IPO).
The Seoul Metropolitan Police Agency's Financial Crimes Investigation Division summoned Bang to ask about allegations that he misrepresented HYBE's IPO plans in order to buy back shares through a private equity fund connected to him.
Bang arrived at the agency's Mapo District office in western Seoul around 9:55 a.m wearing a navy suit.
"I apologize for causing concern with this matter," he told reporters. "I will fully cooperate with the investigation today."
When asked if he had instructed investors to sell their shares or if he denied listing plans at the time, he replied, "I will explain during the investigation."
Police suspect that Bang in 2019 assured venture capital firms and other early investors that HYBE had no plans to list the company, then urged them to sell their holdings to a private equity fund with ties to him. The investors say they trusted his statements, but the company had already begun preliminary steps toward an IPO.
Investigators believe Bang secured illicit gains of about 190 billion won ($136 million), including 30 percent of the profit from the private equity fund's resale of HYBE shares.
Police began their probe late last year. Officials at the Financial Supervisory Service with special judicial police authority are also examining the allegations under the direction of prosecutors.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.