South Korea police seeking to arrest Hybe’s 53-year-old founder for alleged investment fraud

An arrest warrant has been requested for Bang Si Hyuk, the South Korean founder and chairman of Hybe, for alleged investment fraud.

The Seoul Metropolitan Police Agency said on Apr. 21 that Bang, 53, is suspected of violating capital market laws.

He is accused of misleading investors by secretly preparing a public listing for his conglomerate Hybe, while claiming the public listing was not likely.

Early investors sold their shares to a private equity fund linked to Bang's associates in 2019 as a result, Reuters reported.

Police investigations suggested that the fund sold its stake after Hybe went public in October 2020.

Bang apparently received about 30 per cent of the profits under a prior shareholder agreement, earning about 190 billion won (S$163.58 million) illegally without proper public disclosure.

Police have asked prosecutors to request a court warrant for arresting Bang.

Bang’s response

While Bang’s legal counsel did not address the allegations, they expressed regret that the police were seeking his arrest, despite cooperating with investigations, Associated Press reported.

Bang had previously denied any wrongdoing.

Flight restrictions

Bang has been barred from leaving South Korea since August 2025 due to ongoing investigations.

According to Korea JoongAng Daily, the U.S. embassy in Seoul sent a letter requesting that South Korean authorities allow Bang to travel to the U.S.

The letter sought the temporary lifting of his travel ban, citing plans for Bang and other senior executives of Hybe to attend an event marking U.S. Independence Day on Jul. 4 and to hold talks related to the ongoing BTS global tour.

Neither the South Korean authorities nor the U.S. embassy in Seoul further commented on the matter.

“Hitman” Bang & Hybe

Bang, a billionaire, is a South Korean music executive behind the music label Hybe Corporation, one of the “big four” K-pop conglomerates.

He created the K-pop boy group, BTS, and produced for them since 2010.

Bang’s agency is also behind major acts such as Enhypen, NewJeans, Le Sserafim and Illit.

Photos from hitmanb72/Instagram and Unsplash