South Korean police seek indictment of K-pop mogul behind BTS
Summary
South Korean police have asked prosecutors to charge Bang Si-Hyuk, the head of Hybe, with investor fraud. They accuse him of misleading investors about the company’s plans to go public in 2019, which affected share sales before the initial public offering (IPO).Key Facts
- Bang Si-Hyuk is the chairman of Hybe, the company behind the K-pop group BTS.
- Police want him indicted for violating the capital markets act related to investor fraud.
- The case involves claims that Bang said Hybe would not go public soon, leading investors to sell shares privately.
- After the private sale, Hybe went public, and a private equity fund allegedly paid Bang about 200 billion won ($147 million) in a side deal.
- Police also asked prosecutors to charge four other people, including Hybe executives and private equity fund officials.
- Bang and Hybe deny the allegations and say they will cooperate with the legal process.
- Police tried to arrest Bang twice earlier in 2025 but were denied by prosecutors.
- The case surfaced after BTS returned with a worldwide tour following a four-year break for military service.
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