Authorities in Seoul have asked prosecutors to pursue a court warrant for Bang Si-Hyuk's arrest, according to multiple reports. The investigation focuses on claims that Bang told investors in 2019 that the company had no plans for an initial public offering, prompting them to sell shares to a private equity fund. The company later went public, and police believe Bang may have received around 200 billion won (approximately €115.7 million) through a side agreement tied to post-IPO profits.
Bang's legal team has not directly addressed the accusations, but said he has fully and consistently cooperated with the investigation and will continue to do so. Hybe has maintained that its founder denies any wrongdoing.
fully and consistently
This legal challenge comes as Hybe, originally founded as Big Hit Entertainment in 2005, has grown into a global entertainment force. Bang has long been credited with transforming the company, which expanded through acquisitions including a $1 billion deal for Ithaca Holdings in 2021 that brought artists like Justin Bieber and Ariana Grande under its umbrella. In recent years, however, Hybe has faced internal turbulence, including a high-profile court dispute between Bang and producer Min Hee-Jin over control of subsidiary Ador and the management of girl group NewJeans.
The case marks a significant reputational challenge for Hybe at a crucial moment for its flagship act BTS. The group has recently returned to the global stage following a nearly four-year hiatus while members completed mandatory military service in South Korea. BTS has already drawn tens of thousands of fans to comeback performances in Seoul and Japan, and is set to launch a new run of US shows later this month.
With legal scrutiny intensifying, the outcome of the investigation could have far-reaching implications not just for Bang, but for Hybe's global ambitions at a time when its most famous act is back in the spotlight.