South Korean police are seeking to arrest music executive Bang Si-Hyuk as part of an expanding investigation into alleged investor fraud linked to the entertainment giant behind global K-pop group BTS.
Authorities said they have requested a court warrant to detain the billionaire founder, who established HYBE (formerly Big Hit Entertainment) and played a central role in the rise of BTS to global fame.
Bang’s legal team did not directly address the allegations but said he has been cooperating with investigators and will continue to engage with legal procedures.
He has been barred from leaving South Korea since August as part of the ongoing probe.
Investigators allege that Bang misled investors in 2019 by stating that HYBE had no immediate plans for a public listing. They claim this led some investors to sell shares to a private equity fund before the company later proceeded with an initial public offering.
Police also suspect that a separate agreement may have allowed Bang to receive around 200 billion won (about $136 million) in post-IPO profits, though HYBE officials say he denies any wrongdoing.
The case comes at a sensitive time for HYBE, as BTS has recently resumed group activities after completing mandatory military service. The group has returned to the stage with performances in Seoul, Goyang, and Tokyo, and is scheduled for upcoming shows in the United States.
Bang, who founded HYBE in 2005, is widely regarded as one of the most influential figures in the global K-pop industry. Under his leadership, the company expanded internationally, including its 2021 acquisition of Ithaca Holdings, which manages artists such as Justin Bieber and Ariana Grande.
However, HYBE has also faced internal disputes in recent years, including a high-profile conflict involving Bang and producer Min Hee-jin over control of the label ADOR, which manages the group NewJeans.