“I apologize for causing concern” - Bang Si-hyuk appears for police interrogation on alleged stock manipulation tied to HYBE’s IPO

On September 15, 2025, K-media Yonhap News reported Bang Si-hyuk, head of HYBE, appeared before Seoul police on Monday over claims of unfair stock dealings tied to the company’s market entry. The capital’s Financial Crime Unit summoned him at 10 am to answer allegations from 2019.

According to investigators, Bang assured early backers there were no listing plans, then pushed them to hand over their stakes to a private equity fund linked to him, even as IPO steps were already underway.

Police estimate he gained around 190 billion won, nearly $136 million, including a large share of profits made when the fund later sold HYBE stock. Bang reached the Mapo station at 9:55 am in a navy suit. Facing the press, the 53-year-old said,

"I apologize for causing concern because of my work. I will faithfully participate in today's investigation."

When asked,

"Is it true that you asked (investors) to sell their shares during the IPO process?" and "Is it true that you said there were no plans to go public?"

He replied,

"I will tell you during the investigation."

The probe began late last year after investor complaints. The Financial Supervisory Service, with judicial authority, is also reviewing the case under prosecutors’ direction.

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Bang Si-hyuk earlier vowed full cooperation in the probe

Bang Si-hyuk (Image via Getty)

Last month, Bang Si-hyuk flew back to South Korea to face a fraud case. In an email to staff on August 6, he pledged to cooperate “fully and transparently” with investigators and clear the charges. This was his first comment since the issue broke (as reported via Billboard).

“I cannot allow my personal issues to continue burdening the company and the industry,” he wrote, promising to “resolve the allegations at hand.”

Bang admitted that he had questioned whether he had overlooked things as HYBE grew rapidly.

“The period in which I was unable to respond swiftly to the suspicions and controversies was also a painful time for me,” Bang added.

The HYBE boss also emphasized that his personal issues should not affect the artists or workers, who need to remain focused on their jobs. The note ended with thanks to the employees.

“I will do my utmost to explain and resolve this situation so that my personal issues do not become an obstacle to your talents, capabilities and spirit of challenge. Like all members of HYBE, I will continue to reflect deeply and remain committed to the development of music and the industry," Bang concluded.

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At issue is whether Bang Si-hyuk used inside information and influence to profit ahead of the company's public listing, leaving early investors at a loss. Earlier, the police raided HYBE's Seoul HQ in July as part of a stock fraud investigation.

Edited by Shreya Jha