HYBE Faces Regulatory Scrutiny Over IPO Conduct On July 24, 2025, South Korean authorities conducted a search of HYBE Corporation’s Seoul headquarters in connection with an investigation into potential misconduct surrounding the company’s 2020 IPO. At the centre of the inquiry is HYBE’s founder and chairman, Bang Si-hyuk, known globally as a visionary behind BTS and a key architect of modern K-pop. The allegations suggest that in 2019, Bang may have misled early investors regarding HYBE’s listing plans, prompting some to sell their shares, which were later acquired by private equity firms. Authorities believe Bang may have received undisclosed profits from the eventual public offering — an arrangement that was not clearly disclosed in the company’s official IPO filings. HYBE has publicly stated that all transactions were lawful and vetted by legal counsel, and the company has pledged full cooperation with the ongoing investigation. Editor’s Note: As this case unfolds, we recognise ...