HYBE Founder Bang Si Hyuk Avoids Arrest Over Lack of Evidence

April 27, 2026 | 08:24 am

TEMPO.CO, Jakarta - The Seoul Southern District Prosecutors' Office has rejected a police request for an arrest warrant against HYBE founder Bang Si Hyuk, who is accused of unfair stock trading, citing a lack of evidence.

"At this stage, there is insufficient evidence to justify the need for detention, therefore we have requested additional investigation," the prosecution said in a Yonhap News Agency broadcast on Friday, April 24, 2026, local time.

The prosecution reportedly returned to the police the arrest warrant request filed against Bang Si Hyuk earlier this week on charges of fraudulent unfair trading under the Capital Market Act.

Bang Si Hyuk is suspected of defrauding investors in 2019 into selling their shares in HYBE before the company's initial public offering (IPO), from which he allegedly pocketed approximately 260 billion won (approximately Rp3.037 trillion) in illegal profits.

The police said they would review whether to reapply for the warrant after further investigation, adding that the decision would be made "in accordance with the prevailing legal process," the prosecution added.

The law prohibits obtaining financial gain through false statements or using fraudulent schemes related to financial investment products, such as unregistered stocks.

Violations involving gains exceeding 5 billion won (approximately Rp58.4 billion) are punishable by life imprisonment or a minimum of five years in prison.

Bang Si Hyuk denied the charges, saying that the IPO had complied with applicable laws and regulations.

Police first received information about the allegations in late 2024 and raided the Korea Stock Exchange and HYBE headquarters the following year as part of the investigation.

He was barred from leaving the country in August, resulting in various restrictions on his activities.

The US Embassy in Seoul recently sent a letter to the police requesting that they allow him to travel to the United States to participate in K-pop supergroup BTS's world tour.

Read: South Korea Police Seek Arrest of BTS Agency Head Over Fraud

Click here to get the latest news updates from Tempo on Google News

South Korea Police Seek Arrest of BTS Agency Head Over Fraud

5 hari lalu