After two failed arrest bids, Korean police say HYBE Chairman Bang Si-hyuk will be referred to prosecutors this week – without detention
Police say Bang Si-hyuk may have gained up to 262.6 billion won from undisclosed listing-related transactions, according to investigators.
- The Korean National Police Agency referred HYBE Chairman Bang Si-hyuk to prosecutors on Thursday, concluding an investigation into the company's 2020 stock market listing without seeking his detention.
- Bang allegedly misled early investors in 2019 about IPO plans, prompting them to sell stakes to a private equity fund tied to him before the company went public.
- Financial regulators estimate Bang's improper gains at nearly 200 billion won ; prosecutors rejected two police arrest requests earlier this year, prolonging the investigation.
- Prosecutors will now review the police file to decide whether to indict Bang, who maintains the listing complied with all relevant regulations and laws.
- The referral precedes an October 2 legal system shift in South Korea that transfers prosecution powers; HYBE posted Q2 2026 revenue of approximately $967 million despite the ongoing case.
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K-Pop Billionaire Bang Referred to Prosecutors, Yonhap Says
South Korean police shared with prosecutors the findings of a long-running investigation into BTS agency Hybe Co. founder Bang Si-hyuk over allegations he misled investors ahead of the company’s 2020 listing.
The police have referred five individuals, including Chairman Bang Si-hyuk, to the prosecution without detention on charges of obtaining 150 billion won in illicit profits by deceiving shareholders during the listing process of HYIVE. After a year and nine months of investigation, the police confirmed circumstances indicating that they pocketed profits through private equity funds and seized and preserved the proceeds of the crime.
Bang Si-hyuk, Chairman of HYIVE, who is suspected of pocketing illicit profits during the company's IPO process, has been referred to the prosecution without detention. This comes approximately one year and eight months after the police launched their investigation. On the 3rd, the Seoul Metropolitan Police Agency's Financial Crimes Investigation Unit (Chief Jo Dae-hee) referred five individuals, including HYIVE Chairman Bang Si-hyuk, to the Seo…
(Seoul = Yonhap News) Reporter Jeon Jae-hoon = Bang Si-hyuk of HIVE is accused by the police of inducing existing shareholders to sell their shares by claiming there are no plans for an IPO, despite the company being preparing for one...
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