HYBE Boss Faces Legal Scrutiny Over IPO Deal

Police in Seoul are pushing for a detention order against Bang Si‑hyuk, the chief of music firm HYBE, after allegations that he misled investors before the company went public. The claim is that Bang steered early shareholders to sell their shares to a private fund tied to his associates, then profited from the sale when HYBE debuted on the stock market. Prosecutors say he earned roughly 190 billion won—about $129 million—from this arrangement, which they say breaches capital‑market rules. Bang has always denied any misconduct. HYBE released a statement saying it has cooperated fully with the investigation and will keep working with authorities. The company also noted that the request for a detention order came even though it has been transparent about its dealings.The company’s stock slipped after the news, falling 2. 4 percent at close while the broader Korean market gained 2. 7 percent. Meanwhile, a letter from the U. S. embassy in Seoul asked police to lift a travel ban on Bang so he could attend an Independence Day event and discuss the group’s upcoming tour. The embassy said it had no comment on the request. Bang has been unable to leave South Korea since last August. If prosecutors decide to pursue a detention warrant, a court will likely hold a hearing in two or three days to determine whether he should be arrested.