Hybe Chairman Faces Fraud Probe as BTS Prepares for Reunion

As BTS approaches its much-anticipated full-group comeback, Hybe, the agency behind the global K-pop sensation, is grappling with significant controversy. Chairman Bang Si-hyuk is under investigation by South Korea’s Financial Supervisory Service (FSS) for alleged fraud and unfair trading practices related to the company’s 2020 initial public offering (IPO). According to local media reports , the FSS is examining claims that Bang misled investors during Hybe’s pre-IPO phase in 2019, allegedly informing institutional investors that a public listing was unlikely while simultaneously preparing for one.

The investigation centers on accusations that Bang entered into undisclosed profit-sharing agreements with private equity funds connected to his associates. These deals reportedly allowed him to earn approximately 400 billion won (about £228 million) following Hybe’s successful stock market debut. The agreements were not disclosed in official filings, potentially violating South Korea’s capital market regulations. Neither Hybe nor the FSS has confirmed the full scope of the investigation, though both have refrained from denying its existence.

Amid this turmoil, Hybe is moving forward with plans for BTS’s return. The group, consisting of seven members, is expected to reunite later this year after completing their mandatory military service. Jin and J-Hope have already been discharged, with RM and V set to finish their service on June 10, Jungkook and Jimin on June 11, and Suga by June 21. Hybe CEO Park Ji-won stated in March that the company is collaborating with top-tier songwriters and producers to develop new content and performances, though the members will need time to regroup creatively post-service.

The controversy has sparked concern among BTS fans, who are eager for a seamless reunion. However, Hybe has emphasized that preparations for the group’s comeback remain on track despite the ongoing investigation.