Police are seeking an arrest warrant for Bang Sihyuk, the founder and chairman of the multinational media conglomerate HYBE Corporation, and producerProducerThe person who shapes how a record sounds, from arranging and recording to guiding performances and making creative choices in the studio. A great producer can bring out the bestGo to Producer Glossary of K-pop boy group BTS. This comes as South Korean authorities continue to investigate allegations that Bang, also known as “Hitman” Bang, committed stock fraud and profited from illicit agreements with private equity funds ahead of HYBE’s initial public offering (IPO) in 2020.
Bang, who started his music career as a composer and producerProducerThe person who shapes how a record sounds, from arranging and recording to guiding performances and making creative choices in the studio. A great producer can bring out the bestGo to Producer Glossary, co-founded JYP Entertainment in 1997 with fellow producer Park Jinyoung, and made a name working with artists such as Rain, Wonder Girls, and 2AM. In 2005, he founded Big Hit Entertainment (now called HYBE), the label behind BTS. As the boy group rose to prominence in the late 2010s, Big Hit took on other ventures, such as the creation of the Korean social media platform Weverse and the acquisition of other labels such as Source Music and Pledis Entertainment. Following the 2020 IPO, Bang’s net worth went over $2 billion, according to CNN.
Bang has denied accusations that he entered profit-sharing agreements without public disclosure ahead of the IPO in October 2020. According to the BBC, authorities claimed that before the IPO, Bang had deceived existing investors into believing that HYBE did not have plans for a public listing, and instead convinced them to sell their shares to a private equity fund he allegedly had ties to.
He is said to have taken a 30 percent cut from the sales, earning him ₩200 billion ($136 million). In South Korea, earning ₩5 billion or more in illicit proceeds could land an individual in jail for five years up to a life sentence.
In December 2024, South Korea’s Financial Supervisory Service (FSS) began to investigate these allegations. In July 2025, the Financial Services Commission (FSC) referred Bang and three other company executives to prosecutors on suspicion of unfair trading, leading to a raid of the HYBE headquarters in South Korea.
In December 2025, the Seoul Southern District Court approved the police’s request to seize Bang’s shares in HYBE, which at the time were worth $118 million. The FSS special judicial police also raided Bang’s home and offices that month.
Frequently ASked Questions
Bang Sihyuk, known as “Hitman” Bang, is the founder and chairman of HYBE Corporation, the media conglomerate behind BTS. He co-founded JYP Entertainment in 1997 before founding Big Hit Entertainment, now HYBE, in 2005.
South Korean authorities allege Bang deceived investors ahead of HYBE’s 2020 IPO by claiming there were no public listing plans, then convincing them to sell shares to a private equity fund he allegedly had ties to, taking a 30 percent cut worth ₩200 billion ($136 million).
Bang has denied entering undisclosed profit-sharing agreements ahead of HYBE’s IPO, though South Korean authorities continue investigating the claims as they seek an arrest warrant against him.
The Financial Supervisory Service began investigating in December 2024. In July 2025, the Financial Services Commission referred Bang and three executives to prosecutors, leading to a HYBE headquarters raid. In December 2025, courts approved seizing his HYBE shares, then worth $118 million.
Bang’s net worth exceeded $2 billion following HYBE’s 2020 IPO, according to CNN. He built his career as a composer and producer before founding Big Hit Entertainment, which became HYBE and produced global acts including BTS.
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