SEOUL, South Korea — South Korean police said Tuesday they are seeking the arrest of Bang Si-Hyuk, the influential music executive behind global K-pop sensation BTS, as part of an expanding investigation into allegations of large-scale investor fraud.
The Seoul Metropolitan Police Agency confirmed it has asked prosecutors to seek a court warrant for Bang’s arrest. He is the billionaire founder and chairman of Hybe, the entertainment company that manages BTS and other major K-pop acts.
Authorities allege that Bang may have illegally profited from a scheme involving investors in 2019, when he was accused of misleading shareholders by suggesting that Hybe had no immediate plans for an initial public offering. According to investigators, investors then sold their shares to a private equity fund before the company proceeded with its IPO.
Police suspect that a separate arrangement may have allowed Bang to receive around 200 billion won, or about 136 million dollars, through a side deal tied to post-IPO stock sale profits.
Bang’s legal team did not directly address the allegations in a statement provided to The Associated Press, but expressed concern over the move to seek his arrest.
“We regret that police are seeking his arrest despite our full and consistent cooperation with the investigation over an extended period,” the statement said. It added that Bang would continue to cooperate with legal proceedings and work to clarify his position.
Bang has been barred from leaving South Korea since August as the investigation continues.
The case marks a major reputational setback for Hybe, which has grown into one of the most powerful entertainment companies in South Korea and globally. Bang founded the company in 2005 as Big Hit Entertainment and is widely credited for transforming BTS into an international phenomenon.
The legal developments come as BTS resumes global activities following a nearly four-year hiatus during which all seven members completed mandatory military service. The group recently performed in Seoul and Goyang, as well as Tokyo, drawing large international audiences. Upcoming events include a concert in Tampa, Florida later this month as part of their U.S. tour schedule.
Hybe has expanded aggressively in recent years, including a reported 1 billion dollar acquisition in 2021 of Scooter Braun’s Ithaca Holdings, which brought artists such as Justin Bieber and Ariana Grande under its management umbrella.
Despite its global success, the company has faced internal turbulence. A highly public dispute between Bang and producer Min Hee-Jin over the girl group NewJeans escalated into legal battles in 2024. Hybe attempted to remove Min from her leadership role at Ador, while she accused Bang of undermining her group and engaging in hostile corporate conduct. The dispute has since moved into the courts, and NewJeans members have sought to exit their contracts, though a court ruling last year required them to remain under contract until 2029.
Si Venus L Peñaflor ay naging editor-in-chief ng Newsworld, isang lokal na pahayagan ng Laguna. Publisher din siya ng Daystar Gazette at Tutubi News Magazine. Siya ay isa ring pintor at doll face designer ng Ninay Dolls, ang unang Manikang Pilipino. Kasali siya sa DesignCrowd sa rank na #305 sa 640,000 graphic designers sa buong daigdig. Kasama din siya sa unang Local TV Broadcast sa Laguna na Beyond Manila. Aktibong kasapi siya ng San Pablo Jaycees Senate bilang isang JCI Senator.
- Venus L Peñaflor
- Venus L Peñaflor
- Venus L Peñaflor
- Venus L Peñaflor
