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2w ago

HYBE’s Bang Si-hyuk Apologizes for Pre-IPO Trading Scandal, Pledges to Return to Seoul

Expressing regret over company turmoil, he pledged full cooperation with regulators probing alleged pre-IPO share sales.

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BTS Label HYBE Boss Bang Si-Hyuk BREAKS Silence On IPO Fraud Probe, Issues Public Apology: Will Return To Korea And Cooperate
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Overview

  • In a leaked internal email on August 6, Bang Si-hyuk apologized for the confusion and concern the allegations have caused among employees, artists and partners.
  • He committed to return from overseas as soon as possible to cooperate fully with the Securities and Futures Commission, the Financial Supervisory Service and the National Tax Service.
  • Investigators accuse him of misleading select investors in 2019 by denying plans for an IPO while directing share sales to a private equity–backed SPC and later securing 30% of its resale profits.
  • The Securities and Futures Commission filed a criminal complaint against Bang on July 16, and Seoul Metropolitan Police raided HYBE headquarters on July 24 as part of the ongoing inquiry.
  • Under South Korea’s Capital Markets Act, convictions for fraudulent unfair trading carry prison terms of five years to life, highlighting the case’s legal and governance stakes.