Overseas travel ban for HYBE chairman Bang during investigation

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Overseas travel ban for HYBE chairman Bang during investigation

Published: 01 Oct. 2025, 14:08 Updated: 01 Oct. 2025, 20:54

Audio report: written by reporters, read by AI

HYBE Chairman Bang Si-hyuk appears at the Financial Crimes Investigation Division of the Seoul Metropolitan Police Agency in western Seoul on Sept. 15. [YONHAP]

HYBE chairman Bang Si-hyuk, currently under police investigation for allegedly misinforming investors to make a personal gain of almost 200 billion won ($142 million), has been banned from leaving the country.

The Seoul Metropolitan Police Agency’s Financial Crimes Investigation Division placed an overseas travel ban on Bang, who is under investigation for violating the Financial Investment Services and Capital Markets Act, police confirmed Wednesday. The timing of the restriction and further details were not disclosed.

Bang is accused of misleading existing HYBE investors, including venture capital firms, in 2019 by falsely claiming that the company had no plans to go public. He then allegedly arranged for a special purpose company (SPC), created by a private equity fund set up by HYBE executives, to buy out those investors' shares.

Believing there were no initial public offering (IPO) plans, the investors sold their holdings — but in reality, HYBE was already preparing for an IPO at the time, according to allegations.

Following the IPO process, the SPC sold the acquired shares. Bang reportedly received 30 percent of the profits under a confidential, prearranged deal with the SPC, ultimately pocketing around 190 billion won.

On June 30, police raided the Korea Exchange in Yeongdeungpo District, Western Seoul, and secured documents related to HYBE’s IPO review. On July 24, they also searched HYBE’s headquarters in Yongsan District, central Seoul.

Bang was questioned twice as a suspect, on Sept. 15 and again on Sept. 22.

Bang’s legal team maintains that all laws and regulations were followed during the company’s IPO process and that there are no legal issues.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY JEONG HYE-JEONG [[email protected]]