Bang Si-Hyuk, chairman of K-pop giant HYBE that houses BTS and Le Sserafim, among others, has expressed regret over how ongoing investigations into him and his company in South Korea have affected the organization and its stakeholders.
“Over the last year,” he wrote in an email to company employees, “much has been said and written about me in the press. Increasingly, I believe these events are causing confusion and concern for you, as well as our artists, fans, and partners.” The email was first reported by Forbes.
HYBE and Bang are currently under investigation by authorities in South Korea. Most recently, HYBE was probed by tax authorities in South Korea over alleged market violations, per the Korea Herald. Earlier this year, HYBE’s offices were raided concerning allegations of insider trading by a former executive. Last year, reports emerged that Bang and HYBE were being investigated over insider trading allegations related to the 2020 IPO of HYBE, then Big Hit Entertainment. HYBE rebranded from Big Hit in 2021.
“I will return to Korea to fully and transparently work with investigators and put these allegations to rest,” wrote Bang, who is currently in the U.S. “In particular, I feel a deep sense of regret knowing that our members and artists, who should be focused solely on their creative and professional goals, might be suffering because of this situation … I understand how my absence may have contributed to confusion and frustration.”
BTS, by far the most globally recognized group on HYBE’s roster, has been on an extended hiatus since last year, owing to its members’ mandatory military service. A March 2026 comeback is in the works.
Shares in HYBE were up seven percent on the day, to 277,500 South Korean won, or about $200 USD.
variety.com
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