Seoul Metropolitan Police referred Hybe (KRX:352820) Chairman Bang Si-hyuk and four other people to the Seoul Southern District Prosecutors' Office on September 3 over alleged fraudulent trading around the company's 2020 listing, Korean media reported.
In Korean practice, a referral without detention means police have closed their own investigation and passed the case up with an opinion that the law was broken, leaving the suspect free while prosecutors decide whether to charge. It is not a decision to clear anyone.
Police say Bang told pre-IPO shareholders in 2019 that there were no near-term listing plans, prompting them to sell their stakes to a private equity fund, and put the improper gains at ₩263.1 billion (~$195 million). The same amount has been placed under a court preservation order against possible forfeiture.
That sum equals 9.9% of Hybe's (KRX:352820) 2025 revenue of ₩2.65 trillion, though the allegation concerns personal share dealings rather than money that passed through the company's accounts.
Police had sought arrest warrants for Bang twice earlier in 2026. Prosecutors turned down both requests, citing the need for further investigation.
The investigation ran about 21 months, Bang was questioned five times, and a former chief investment officer who left the country is the subject of an Interpol red notice request. No one has been charged.
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| Symbol | Last Price |
|---|---|
| 352820HYBE Co., Ltd. | ₩178,500 +1.4% |