The Seoul Metropolitan Police Agency’s Provincial Special Detective Corps office on Jan. 13, 2025 (Image courtesy of Yonhap)
SEOUL, July 3 (Korea Bizwire) — Police have raided the Korea Exchange (KRX), South Korea’s stock market operator, as part of an investigation into allegations of irregularity involving the chairman of Hybe, the K-pop agency behind boy band BTS, according to sources Thursday.
Investigators at the Seoul Metropolitan Police Agency raided the offices of the KRX in Yeouido, western Seoul, on Monday to search and secure evidence related to the K-pop agency’s stock market debut in 2020, the sources said.
The raid was carried out in connection with an investigation over allegations that Hybe Chairman Bang Si-hyuk had intentionally misled investors ahead of the company’s stock market debut in 2020.
The Hybe founder has been under investigation over suspicion that he had sought to list the agency while misleading investors that there were no plans for its public offering.
The Financial Supervisory Service (FSS), which is also investigating the case, summoned Bang late last month to question him on alleged irregularities in Hybe’s stock market debut.
(Yonhap)
