Police Seek Arrest Warrant for Hybe Chairman Bang Si-hyuk Over Alleged 200 Billion Won Illegal Profits

Police said Tuesday they have filed for an arrest warrant for Bang Si-hyuk, the chairman and founder of K-pop powerhouse Hybe, on suspicions of unfair stock trading. Bang has been under investigation over allegations that he deceived investors in 2019 into selling their shares in Hybe before the company held an initial public offering, through which he pocketed nearly 200 billion won (US$135.9 million) in illegal profits. The Seoul Metropolitan Police Agency said its request for a warrant is based on suspicions of fraudulent trading. Under the Capital Market Act, a person found guilty of making 5 billion won or more in profits by lying about financial investment products is punishable by life imprisonment or a prison term of at least five years. Bang's side has denied the allegation, saying the IPO had followed the law and regulations. Police first received a tip-off on the allegations in late 2024 and proceeded to raid the Korea Exchange and Hybe's headquarters the following year. Bang was also banned from leaving the country earlier, leading to various restrictions in his activities. The U.S. Embassy in Seoul recently sent a letter to the police agency asking that it allow him to travel to the U.S. to take part in K-pop supergroup BTS' world tour.