HYBE’s Bang Si Hyuk Faces Police Questioning For The Second Time Within One Week

Authorities suspect that Bang earned roughly 190 billion won in illicit profits.

HYBE chairman Bang Si Hyuk has returned to the police for questioning just a week after his initial appearance, amid allegations of violating South Korea’s Capital Markets Act. The investigation centers on claims that he gained illegal profits through share transactions linked to HYBE’s 2019 IPO.

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On September 22, Bang was summoned to the Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit as a suspect. This follows his public summons on September 15, marking his second appearance in less than one week.

Bang Si Hyuk Shows Up At Photo Line For First Police Interrogation

Investigators say that prior to HYBE’s IPO, Bang allegedly informed venture capital firms and other early investors that the company had no immediate plans to go public. Believing this, the investors sold their stakes to a special purpose company (SPC) created by a private equity fund associated with him. However, evidence suggests that HYBE was already in the process of preparing for the IPO at the time.

Authorities suspect that Bang earned roughly ₩190 billion KRW (about $136 million USD) in illicit profits by taking 30% of the gains from these share sales through the private fund. The arrangement is now at the center of the police investigation.

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The case only came to light late last year when police received intelligence regarding the transactions. The Financial Supervisory Service’s special judicial police have also launched a separate probe under prosecutorial guidance, examining the alleged wrongdoing from multiple angles.

Investigation Into HYBE Bang Si Hyuk’s Alleged Illegal Actions Gets A Major Breakthrough

As the investigation unfolds, Bang’s repeated questioning highlights the seriousness of the allegations and keeps the spotlight on one of K-Pop’s most influential executives.