HYBE Chairman Bang Si-hyuk faces arrest warrant on IPO fraud allegations; 190 billion won damages

The Seoul Metropolitan Police Agency filed an arrest warrant against HYBE Chairman Bang Si-hyuk on April 21 on charges of capital market law violations. Prosecutors allege he told investors during the 2019 IPO that there were no listing plans, prompting them to sell shares to private equity funds, netting him illicit gains of approximately 190 billion won ($129 million). Bang's side countered that despite long-term cooperation, the warrant request is regrettable and denied wrongdoing. The prosecution later dismissed the case due to insufficient evidence.