HYBE Founder Bang Si-hyuk Suspected of Fraudulent Transactions; Public Worries Over U.S. Pressure

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South Korean police have requested an arrest warrant for HYBE founder Bang Si-hyuk over suspected fraudulent transactions exceeding 100 billion won. Speculation arises that he might use U.S. diplomatic pressure to evade investigation, a claim HYBE denies.

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South Korean police have requested an arrest warrant for HYBE founder Bang Si-hyuk over suspected fraudulent transactions exceeding 100 billion won. Speculation arises that he might use U.S. diplomatic pressure to evade investigation, a claim HYBE denies.

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Source: https://www.cna.com.tw/news/aopl/202604220218.aspx | Date: Date unavailable

Central News Agency (CNA Reporter Yang Chi-kang, Seoul, 22nd) South Korean police yesterday requested an arrest warrant for Bang Si-hyuk, Chairman of the Board of the South Korean entertainment agency HYBE, on suspicion of fraudulent and unfair transactions. Korean media reported that some worry Bang might emulate Coupang CEO Bom Kim and exert pressure through the United States. According to Yonhap News Agency today, the Seoul Southern District Prosecutors' Office received the arrest warrant application and investigation data from the police yesterday morning regarding Bang Si-hyuk's suspected violation of the Capital Markets Act, and is currently reviewing whether detention is necessary. A prosecution official stated, "We cannot confirm the relevant details to the public at this stage." The reasons the police believe detention is necessary include the amount involved exceeding 100 billion won (about NT$2.22 billion), the severity of the case, and actions such as changing mobile phones before the investigation, which raise concerns about the destruction of evidence. However, Bang's side argues that they have cooperated with the search and have already undergone five suspect interrogations, claiming there is no risk of evidence destruction. Some speculate that Bang gives the impression of "possibly imitating Coupang," which led the police to decide to apply for an arrest warrant. Recently, during a large-scale personal data leak incident at Coupang, the timing coincided with U.S. tariff pressure. There were even reports that the U.S. side told South Korea that if the personal safety of Coupang founder and CEO Bom Kim could not be guaranteed, high-level diplomatic and security agreements between South Korea and the U.S. would be difficult to advance. The report pointed out that with a similar precedent existing, the U.S. Embassy in South Korea reportedly sent a letter requesting the lifting of Bang Si-hyuk's travel ban. This sparked fierce internal reactions within th

HYBE Founder Bang Si-hyuk Suspected of Fraudulent Transactions; Public Worries Over U.S. Pressure

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