Wednesday, July 30, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
K-POP NEWSWIRE
  • Home
  • TOP STORIES
  • BTS
  • KDRAMA
  • KPOP
  • ENTERTAINMENT
  • FASHION
  • TOURS
  • GLOBAL
No Result
View All Result
K-POP Newswire
  • Home
  • TOP STORIES
  • BTS
  • KDRAMA
  • KPOP
  • ENTERTAINMENT
  • FASHION
  • TOURS
  • GLOBAL
No Result
View All Result
K-POP Newswire
No Result
View All Result
Home ENTERTAINMENT

HYBE Chairman Bang Si Hyuk Responds to 200 Billion Won IPO Fraud Allegations

Hina Ejaz by Hina Ejaz
9 July 2025
in ENTERTAINMENT
0
Bang Si Hyuk, Founder and Chairman of HYBE
76
SHARES
1.2k
VIEWS
Share on FacebookShare on TwitterWhatsApp

HYBE’s founder and chairman, Bang Si Hyuk, has spoken publicly for the first time since reports surfaced accusing him of stock market fraud worth 200 billion won.

You might also like

BLACKPINK Lisa’s Car Collection Might Be Cooler Than Her Wardrobe

G-Dragon Appointed to Lead Global Promotions for 2025 APEC Summit in Korea 

Blue Dragon Series Awards 2025: Lee Jun Young Accidentally Accepts Lee Jun Hyuk’s Popularity Award

On July 9, HYBE issued an official statement addressing the swirling allegations linked to its initial public offering (IPO) process. 

The company apologized for causing concern, saying, “We sincerely apologize for causing concern due to the recent news related to our company’s listing process. Regarding the issues currently being raised, our company is actively cooperating with the financial authorities and the police by submitting relevant materials along with detailed explanations.”

HYBE stressed that they plan to clarify the facts thoroughly, promising, “Even if it takes some time, we will faithfully clarify that the listing at that time was carried out in compliance with all applicable laws and regulations.”

The controversy centers around claims that Bang Si Hyuk misled early investors before HYBE’s stock market debut. Authorities allege that Bang privately told investors there were no IPO plans, while secretly selling shares to a private equity fund (PEF) set up by an associate.

Reportedly, before HYBE’s listing, Bang signed a deal with the PEF to receive 30% of the profits from the share sale. This agreement was not disclosed during the Korea Exchange’s review or in official filings with the Financial Supervisory Service. It is said that Bang Si Hyuk pocketed around 200 billion won in profits through this arrangement once HYBE went public.

As a result, financial authorities believe Chairman Bang used the private equity fund to get around protective custody rules. This usually prevents major shareholders from immediately offloading large blocks of shares for a certain holding period after a company lists.

On July 7, the Capital Market Investigation Review Committee under the Financial Services Commission reached this decision and passed its opinion to the Securities and Futures Commission. 

If the SFC gives its final approval, Bang Si Hyuk and three current and former HYBE executives could also face indictment. The SFC is expected to hold further deliberations on the case next week.

HYBE has pledged to share more information as they cooperate fully with authorities to clear up the allegations and rebuild trust with shareholders and the public.

Meanwhile, this could become the first indictment under new President Lee Jae Myung’s “one strike” policy. The new system focuses on strict punishment for stock manipulation and unfair trading practices. Under the new rule, even one instance of price manipulation or unfair trading will result in a lifetime ban from the market.

Source

Tags: Bang Si HyukHYBE
Share30Tweet19Send
Hina Ejaz

Hina Ejaz

Recommended For You

Lisa from BLACKPINK posing in front of Ferrari Roma Spider
ENTERTAINMENT

BLACKPINK Lisa’s Car Collection Might Be Cooler Than Her Wardrobe

by Hina Ejaz
23 July 2025
G-Dragon appointed ambassador for APEC Summit 2025
ENTERTAINMENT

G-Dragon Appointed to Lead Global Promotions for 2025 APEC Summit in Korea 

by Rowhaan
23 July 2025
Lee Jun Hyuk and Lee Jun Young at Blue Dragon Series Awards 2025
ENTERTAINMENT

Blue Dragon Series Awards 2025: Lee Jun Young Accidentally Accepts Lee Jun Hyuk’s Popularity Award

by Shumaila Ejaz
18 July 2025
Behind the photos of Rowoon’s cameo in Spring of Youth
ENTERTAINMENT

Why Did Rowoon’s Military Service Get Postponed? FNC Releases Statement

by Shumaila Ejaz
17 July 2025
Ex-NCT member Taeil arriving at the court for hearing on June 18, 2025
ENTERTAINMENT

Ex-NCT’s Taeil Challenges Court Verdict in Rape Case

by Rowhaan
17 July 2025
Next Post
KATSEYE in a teaser for 2nd EP 'Beautiful Chaos'

KATSEYE Tour ‘THE BEAUTIFUL CHAOS’ Dates, Stops, and Tickets

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • BTS
  • ENTERTAINMENT
  • FASHION
  • GLOBAL
  • KDRAMA
  • KPOP
  • TOP STORIES
  • TOURS
Facebook Twitter Instagram Pinterest Whatsapp

K-Pop Newswire

Catch the freshest K-pop news, K-drama updates, fashion trends, and entertainment buzz. From BTS to the latest fashion hits, K-Pop Newswire covers it all.

Categories

  • BTS
  • ENTERTAINMENT
  • FASHION
  • GLOBAL
  • KDRAMA
  • KPOP
  • TOP STORIES
  • TOURS

Useful Links

  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Copyright © 2024 K-Pop News Wire | All Rights Reserved.

No Result
View All Result
  • Home
  • TOP STORIES
  • BTS
  • KDRAMA
  • KPOP
  • ENTERTAINMENT
  • FASHION
  • TOURS
  • GLOBAL

Copyright © 2024 K-Pop News Wire | All Rights Reserved.