HYBE chairman Bang appears before police for questioning

Bang Si-hyuk, chairman and founder of K-pop powerhouse HYBE, appeared before police on Monday for questioning on allegations of unfair trading linked to the company’s initial public offering (IPO). In his appearance for questioning, Bang apologized for "causing concern" due to his personal matters. "I will fully cooperate with the investigation," he said. Bang and several former HYBE executives are under investigation for violating the Capital Markets Act. Police suspect that during HYBE’s IPO process, they misled existing shareholders into believing there were no plans for a listing, inducing them to sell their shares to a private equity fund’s special purpose company. HYBE later pursued an IPO, generating an estimated 400 billion won ($290 million) in illicit gains for those involved.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times