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SEOUL, April 21 — South Korean police have asked prosecutors to seek a detention warrant for Bang Si-hyuk, founder and chairman of HYBE, over alleged illegal trading tied to the company’s 2020 initial public offering.
The Seoul Metropolitan Police Agency says Bang is suspected of violating the Capital Markets Act by misleading early investors in 2019, inducing them to sell shares to a private equity vehicle linked to his associates, and later receiving about 30% of the fund’s post-IPO profits.
Police estimate alleged illicit gains at roughly 190 billion won (about $129 million). Bang has denied wrongdoing and his lawyers said they regretted the warrant request despite “full and consistent” cooperation with investigators.
Bang has been barred from leaving South Korea since August 2025; authorities have previously raided HYBE and the Korea Exchange and seized shares provisionally.
HYBE shares swung on the news, falling in early trading.
The probe has diplomatic overtones after reports the U.S. embassy in Seoul sought a temporary lift of Bang’s travel ban to allow attendance at U.S. events tied to BTS’s global tour.
Prosecutors must decide whether to seek formal detention and a court will then consider any warrant.







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