Bang Si-hyuk, chairman of HYBE, underwent his second round of police questioning within a week as part of an ongoing investigation into alleged violations of the Capital Markets Act.
On September 22, the Seoul Metropolitan Police Agency’s Financial Crime Investigation Unit summoned Bang as a suspect, just days after his first appearance on September 15. The probe centers on suspicions that in 2019, ahead of HYBE’s IPO, Bang misled early investors by claiming there were no listing plans, while steering share sales toward a special purpose company (SPC) linked to a private equity fund set up by HYBE executives and associates. Police allege Bang later secured about 190 billion won (approximately $140 million) in illicit profits through this arrangement once the IPO proceeded.
Bang, who had publicly apologized during his first questioning, remained silent as he left the police station late Monday night after nearly 12 hours of interrogation. He did not respond to reporters’ questions.
Authorities, including the Financial Supervisory Service and the Financial Services Commission, are also reviewing the case for possible regulatory penalties. While denying wrongdoing, Bang has maintained that he provided no false information to investors and insists that profit-sharing conditions were made at investors’ request.
Police have not confirmed whether Bang will face travel restrictions as the investigation continues.