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A leading figure in South Korea’s pop-music industry has again found himself facing the justice system.
On the 21st, the Financial Crimes Investigation Unit of the Seoul Metropolitan Police applied for an arrest warrant for HYBE chairman Bang Si‑hyuk, accusing him of violating the Capital Markets Act by engaging in fraudulent trading. Authorities say the alleged illicit gains amount to about 190 billion KRW (approximately $142.5 million).
Investigators describe the case this way: in 2019, a year before HYBE’s listing on the KOSPI, Bang reportedly bought shares at depressed prices by falsely telling existing investors that the initial public offering would be delayed. Police say he later realized profits by transferring those stakes to a special-purpose company established by a private equity fund tied to him. They allege he exploited investors’ trust to capture the price difference.
The decision to seek a warrant was not sudden. Beginning last September, police summoned Bang five times for intensive questioning. After the final summons, investigators spent five months reviewing the legal issues.
Authorities encountered early setbacks. At the end of 2024, when police sought search-and-seizure warrants, the Seoul Southern District Prosecutor’s Office twice rejected the requests, citing an ongoing probe by the Financial Supervisory Service’s special investigative unit. The application for the arrest warrant followed a regular briefing in which Seoul Police Chief Park Jeong‑bo said the probe was nearly complete and expected to conclude soon.
The case also carries diplomatic implications. The U.S. Embassy in Seoul recently delivered a letter to police requesting cooperation for Bang’s travel to the United States — reportedly to support events marking the 250th anniversary of Independence Day on July 4 and to assist BTS’s world tour. Bang is currently barred from leaving the country, creating an unusual clash between judicial procedure and diplomatic requests.
This is not the first time a senior entertainment executive has faced legal peril. After former YG Entertainment chief Yang Hyun‑suk was investigated over various allegations, another prominent figure in K‑pop now faces the possibility of detention. A court will decide whether to issue the warrant at an upcoming detention-warrant hearing.
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