BANG SI HYUK
Can chairman BANG SI HYUK’s 14-hour marathon questioning help save HYBE?
Chairman BANG SI HYUK was summoned on September 15 by the Special Investigation Unit of the Seoul Metropolitan Police, located in the Mapo district, for questioning in connection with an alleged case of fraudulent transactions.
Arriving at the station around 10 a.m., BANG SI HYUK made a brief statement:
“I apologize for causing concern with this matter. I will sincerely cooperate with the investigation today.”
He did not reappear until 11:50 p.m., nearly 14 hours later. Leaving the building, he declined to answer reporters’ questions, including whether he admitted to any of the allegations, such as profiting from illicit gains.
BANG SI HYUK is suspected of misleading HYBE investors, including venture capital firms, back in 2019 by claiming there were no plans for an IPO. Reportedly, this led those investors to sell their shares to a special purpose company (SPC) created by a private equity fund founded by HYBE executives. BANG SI HYUK is alleged to have entered into a confidential agreement with the SPC to split 30% of the resale profits, earning an illegal gain estimated at roughly 190 billion KRW (about 130 million euros), in violation of Korea’s Financial Investment Services and Capital Markets Act.
Police launched their investigation after receiving a tip late last year. In June, they raided the headquarters of the Korea Exchange, followed by a search of HYBE’s offices in July. A parallel investigation is also underway by the Financial Supervisory Service (FSS), led by the prosecution. BANG SIHYUK was questioned by the FSS in late June, after which the agency filed a formal complaint against him and former HYBE executives for violating Article 178 of the capital markets law concerning fraudulent practices.
BANG SI HYUK has denied all allegations, asserting that he followed all applicable laws and regulations throughout the IPO process. The investigation now aims to determine whether there was intent to deceive and whether his actions directly caused harm to investors. Attention is focused on the statements he made during this first round of questioning.
While BANG SIHYUK likely maintained his not-guilty stance, the key question is whether the grueling 14-hour interrogation will strengthen the credibility of his defense. HYBE, South Korea’s leading entertainment agency and home to numerous globally recognized artists, is facing an unprecedented crisis—even if the matter is still only at the level of suspicion.
In addition to BTS and TXT under the Big Hit Music label, groups like SEVENTEEN, ENHYPEN, BOYNEXTDOOR, TWS, LE SSERAFIM, and ILLIT, managed by other HYBE subsidiaries, are also enjoying global success. BTS, despite the group’s military service hiatus until June of this year, pushed HYBE’s stock price to a two-year high solely with the announcement of a comeback slated for the first half of 2026.
Meanwhile, HYBE continues expanding its global footprint through the “multi-home, multi-genre” strategy spearheaded by BANG SI HYUK.
The girl group KATSEYE, created in collaboration with Geffen Records, is performing well on international charts and recently won an award at the 2025 MTV Video Music Awards. HYBE has already announced another audition program with Geffen aimed at forming a second global girl group.
Additionally, HYBE has launched an audition program in Latin America targeting the Latin music market, and in June, BANG SI HYUK officially announced the company’s expansion into India, a project he is personally overseeing.
As BANG SI HYUK’s responsibilities grow heavier, public attention is now focused on whether he can overcome this crisis—which could threaten HYBE’s future, and reclaim his position as a driving force behind K-pop’s global success.
Journalist: Shawn
Translator: Shawn
Source: Korean media
