[Alpha Biz=(Chicago) Reporter Kim Jisun] Employees of the entertainment agency Hive avoided losses by selling shares after learning of BTS's suspension of group activities in advance, a report showed.

The Financial Supervisory Service's Capital Market Special Judicial Police said on the 31st that they sent three people, including the head of an entertainment agency, to the Southern District Prosecutors' Office on the 26th. Earlier, the special judicial police was under the direction of the Southern District Prosecutors' Office to investigate allegations that entertainment agency employees used undisclosed information.

The employees who were sent to the prosecution were known to be affiliated with HYBE and were in charge of BTS-related affairs. They are suspected of selling their holdings before the information was made public after learning of the bad news of BTS's temporary suspension of group activities.

Earlier, BTS announced a temporary suspension of group activities on YouTube on June 14 last year. Since then, HYBE shares have plunged 24.87% on the 15th of the same month. It has been confirmed that the three employees avoided losses of up to 150 million won per person and a total of 230 million won as they sold their shares before the stock price plummeted.

HYBE has been criticized for raising confusion among investors by opaquely disclosing related information through SNS video rather than public disclosure or official announcement.

 

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