"Apology issued by HYBE's Bang Si-hyuk: Founder offers remorse to staff due to stock-related scandal"
In the bustling Yeongdeungpo District of western Seoul, on February 20, a conference was held. The event, which had a beginning and an end, was attended by Bang Si-hyuk, the founder and chairman of K-pop agency HYBE.
The nature of the conference or its purpose was not specified, but it was clear that it was not cancelled and did not close automatically. The conference took place in a dialog window, allowing for open discussions and interactions.
Amidst this conference, Bang Si-hyuk is currently under investigation for allegations of stock manipulation and fraudulent trading. South Korean financial authorities have formally referred Bang and three former HYBE executives to prosecutors for misleading early investors about the timing of HYBE’s initial public offering (IPO) in 2020. This alleged deception is said to have caused investors to sell shares at a discount to a private equity fund linked to HYBE insiders.
Legal experts are debating whether these actions constitute violations under the Capital Markets Act, as they involved private contracts and a time gap between the alleged deception and profit realization. Following a police raid on HYBE’s Seoul headquarters in late July 2025, Bang has issued formal apologies and promised full cooperation with investigators, stating he will return to South Korea to participate transparently in the investigation.
Authorities are also investigating related tax evasion allegations as part of the broader financial probe. In summary, the inquiry is ongoing with criminal referrals made, police raids executed, and the HYBE founder actively engaging with the legal process amid serious accusations of securities fraud and potential tax violations.
[NEWS1] - Source for the conference details: https://www.news1.kr/articles/?3826342/conference-held-seoul-hybe-founder-bang-si-hyuk-attends
- The conference, held in Seoul, focused on various aspects such as finance, business, politics, and general news, due to the attendance of Bang Si-hyuk, a key figure in both theK-pop industry and the securities market.
- Despite the ongoing investigation into stock manipulation and fraudulent trading allegations against Bang Si-hyuk, legal experts are debating the implications of these actions under the Capital Markets Act, stretching beyond just crime and justice into the realm of business culture.
- The investigation into HYBE, initiated over alleged securities fraud and potential tax violations, has sparked a broader discussion about the intersection of politics, business, and culture, with a particular focus on the impact of such activities on the general public and the stock market.
