Police in Seoul have applied for an arrest warrant for HYBE Chairman Bang Si-hyuk amid an investigation into an alleged trading scheme ahead of the company’s IPO.
That’s according to multiple news outlets out of South Korea on Tuesday (April 21), which reported that the Seoul Metropolitan Police Agency’s financial crimes unit has booked Bang on charges of fraudulent and unfair trading and is moving to secure his custody.
The development comes one day after the agency’s commissioner, Park Jung-bo, told reporters the investigation into Bang was “essentially complete” and nearing conclusion, The Korea Herald reported.
Bang’s legal team, in a statement to the Associated Press, expressed regret that police were seeking his arrest “despite our full and consistent cooperation with the investigation over an extended period”.
The statement added that Bang’s team “will continue to cooperate with all legal procedures and make every effort to clearly explain our position”.
Bang has been under police scrutiny for alleged improper share transactions worth around 200 billion South Korean won (approx. USD $136 million).
As MBW previously reported in July 2025, regulators have referred Bang and three other executives to prosecutors for a probe into alleged “unfair trading” tied to the company’s 2020 IPO.
Regulators are examining claims that Bang received 30% of the profits, or about 190 billion won ($129m). This amount is significantly less than the 400 billion won ($272m) that was previously reported.
In September, Bang was summoned by police twice for questioning. Bang told reporters at the time he would cooperate fully with the investigation, saying: “I apologize for causing concern with this matter. I will fully cooperate with the investigation today.”
He returned to Seoul from the United States in August to face questioning, telling staff at the time: “I feel a deep sense of regret knowing that our members and artists, who should be focused solely on their creative and professional goals, might be suffering because of this situation.”
He has been under a travel ban since August, according to Korean media.
Korean media reported recently that the US Embassy had sent a letter to the Korean National Police Agency requesting that Bang and other HYBE executives be permitted to travel to the US.
The embassy reportedly cited two reasons: the July 4th celebrations and the upcoming US leg of BTS’s ARIRANG world tour, which opens in Tampa later this month.
On Monday (April 20), The Korea Herald said HYBE denied involvement in the US Embassy letter, saying: “We have not requested the US Embassy to seek the lifting of Chairman Bang’s travel ban.”
HYBE added that Bang has not received an official invitation from the embassy, and that no decision has been made regarding his attendance at any Independence Day event.
The US Embassy declined to comment further, as per Korea Herald, saying: “We do not have anything to add on that matter.”
Music Business Worldwide
