South Korean police raided the Seoul headquarters of HYBE, the entertainment powerhouse behind BTS, on Thursday, July 24. The raid comes amid serious allegations of fraudulent share trading involving HYBE’s founder and chairman, Bang Si-hyuk.
The Financial Crimes Investigation Unit of the Seoul Metropolitan Police confirmed, “We are conducting a search and seizure at HYBE’s headquarters in Yongsan District.”
Authorities allege that Bang and three other executives deceived investors during the lead-up to HYBE’s initial public offering in 2020. Reports claim they encouraged investors to sell shares to an investment company they secretly controlled.
After HYBE went public, Bang allegedly profited nearly 200 billion won (around $146 million) from these manipulated trades. The Financial Services Commission has since referred Bang’s case to prosecutors for a full investigation.
HYBE denied any wrongdoing by its chairman. In a public statement released in early July, the company said,“We will dutifully clarify that the listing at the time was carried out in compliance with all relevant laws and regulations.” The company added that it will fully cooperate with investigators and provide all necessary documentation to support its claims of legal compliance.
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Despite the ongoing probe, HYBE continues to focus on BTS’s 2026 comeback. All seven members are expected to complete their mandatory military service by next year. Earlier this month, HYBE confirmed a new BTS album and world tour scheduled for 2026, generating massive excitement across global ARMY fanbases.
Before enlisting, BTS reportedly contributed over $4 billion annually to South Korea’s economy nearly 0.2% of the country’s GDP, according to the Korea Culture and Tourism Institute.
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