Overview

• Seoul Metropolitan Police confirmed an overseas travel restriction on Bang during an active investigation under the Financial Investment Services and Capital Markets Act.
• Local reports say the restriction began on Aug. 11 when Bang returned to Seoul, while police have not disclosed the timing.
• Authorities are examining allegations that he denied IPO plans in 2019, prompting early investors to sell shares to a special-purpose company tied to HYBE executives.
• Reports indicate the SPC sold the stake after HYBE’s 2020 listing, with Bang receiving about 30 percent of profits estimated near 190 billion won.
• Police previously raided the Korea Exchange and HYBE’s headquarters for IPO documents and questioned Bang as a suspect on Sept. 15 and Sept. 22.