HYBE Chairman Returns Amid IPO Fraud Probe

Bang Si-hyuk, founder and chairman of HYBE, has pledged to return to South Korea to cooperate with an ongoing investigation into alleged securities fraud tied to the company's 2020 IPO. Authorities allege Bang misled early investors about IPO plans, allowing a special purpose company linked to him to acquire shares at a discount and later profit significantly. In an internal email, Bang acknowledged that his prolonged absence and the investigation have caused confusion and distress among HYBE staff, artists, and stakeholders. The company is also facing scrutiny following insider trading convictions of former employees, a tax audit, and recent raids on its headquarters. Bang apologized for the negative impact of the situation on HYBE and the broader music industry, and emphasized his commitment to transparency and restoring trust. HYBE continues to deny the allegations, and no charges have been filed against Bang.