South Korea police seek arrest of BTS agency Hybe’s billionaire founder

[SEOUL] South Korean police are seeking a warrant for the arrest of BTS-agency Hybe founder Bang Si-hyuk following a probe into allegations that the billionaire misled early investors ahead of the K-Pop powerhouse’s 2020 initial public offering.

The Seoul Metropolitan Police Agency has applied for a warrant, a spokesperson said, without elaborating. Prosecutors will review the request before asking a court to issue an arrest warrant.

Bang was under investigation for allegedly telling early investors in 2019 that Hybe had no plans to go public while encouraging them to sell their stakes to a private equity fund he had ties to.

Hybe representatives were unable to immediately comment. Bang has been summoned by police multiple times during the probe and has consistently denied wrongdoing.

The case adds legal risk at a pivotal moment for Hybe, which is betting on boy band BTS’s first full-group comeback in years. The seven-member group staged a concert last month which was livestreamed on Netflix. They have just embarked on a world tour.

Shares of Hybe fell as much as 4.3 per cent in Seoul to hit their lowest intraday level in almost a year, while the benchmark Kospi jumped more than 2 per cent on Tuesday (Apr 21).

The probe has raised questions over governance just as the company seeks to sustain its growth beyond its flagship act.

Authorities suspect Bang secured illicit gains of about 190 billion won (S$130 million) through the transactions under investigation, including a 30 per cent share of profits generated when the fund later resold Hybe shares, Yonhap News reported. The outlet also first reported that police were seeking to take Bang into custody.

The investigation has centred on whether Bang intentionally misled shareholders and failed to disclose profit-sharing arrangements linked to the private equity vehicle, potentially violating capital markets and fair trading rules.

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Bang has been under investigation for about a year after the Financial Services Commission referred the case to the police in July 2025, alleging he entered into a profit-sharing agreement with the private equity fund and concealed it during the IPO process. BLOOMBERG