[Photo &] HYBE's Bang Si-hyuk, Recently Summoned for Additional Investigations Twice

Police, '1.9 trillion won unjust profits' Bang Si-hyuk recently summoned for additional investigations twice

Bang Si-hyuk, the chairman of HYBE, is reported to have recently undergone two additional investigations by the police on charges of ‘fraudulent unfair trading’ during the IPO process. The police suspect that Chairman Bang made an agreement on undisclosed profit distribution with a private equity fund created by his associates and pocketed 30%, approximately 1.9 trillion won in unjust profits, after the listing. However, there are indications that even the management company identified as the insider fund did not anticipate HYBE's ‘listing success’, which contradicts the suspicion that Bang pursued personal gain with confidence in the listing. The police are currently wrapping up the investigation after three rounds of summons, and Chairman Bang maintains that he complied with relevant regulations.