Police in South Korea have moved to arrest music executive Bang Si-Hyuk, the chairman of the agency behind global K-pop sensation BTS, as part of an expanding investigation into alleged investor fraud exceeding $100 million.
The Seoul Metropolitan Police Agency confirmed on Tuesday that it has formally requested prosecutors to seek a court-issued arrest warrant for Bang. The agency behind him, HYBE, has not yet issued any public response to media inquiries.
Bang has been under investigation since November over allegations that he misled investors in 2019 by claiming HYBE had no immediate plans to go public.
Reports allege that this influenced investors to sell their stakes to a private equity fund ahead of the company’s initial public offering.
Investigators suspect that the arrangement may have included a separate agreement in which the fund allegedly paid Bang approximately 200 billion won (about $136 million), linked to a deal promising him 30% of profits from post-IPO share sales.
Widely regarded as a central figure in the global rise of K-pop, Bang founded HYBE in 2005 under its former name Big Hit Entertainment.
Over the years, he has overseen some of the industry’s biggest acts, including Seventeen, Le Sserafim, and Katseye, alongside BTS.
The legal controversy marks a significant reputational challenge for HYBE, coming at a time when BTS has resumed global touring activities following a nearly four-year break due to mandatory military service obligations.
The group recently performed before large international audiences at a free comeback concert in Seoul and has since staged shows in Goyang and Tokyo. BTS is also scheduled to begin a series of U.S. performances later this month, starting with a concert in Tampa, Florida.
