HYBE
BTS Management Co. Raided
In Insider Trading Investigation
Published
HYBE — the company that manages BTS and other major K-Pop acts — has been raided as part of an insider trading investigation … according to reports out of South Korea.
The Korea Times reported early Thursday the Seoul Southern District Prosecutors’ Office searched the company’s office in central Seoul.
A HYBE executive’s reportedly been accused of gaining profits of 240 million won — South Korean currency worth about $175K — by using insider information to profit on the stock market.
The anonymous executive is under investigation after he allegedly purchased stock in the company YG Plus — an affiliate of YG Entertainment, another top K-Pop company — after learning HYBE planned to partner with them.
HYBE’s most well-known client is the Korean boy band BTS … which has 9 platinum records and has sold out stadiums all around the world.
Among HYBE’s other huge K-Pop acts … Tomorrow X Together, BOYNEXTDOOR, LE SSERAFIM, KATSEYE, NewJeans and many more.
We’ve reached out to South Korean authorities and HYBE for comment … so far, no word back.
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