Photo Courtesy of HYBE

 

 

[Alpha Biz= Kim Jisun] SEOUL, August 6, 2025 — Bang Si-hyuk, Chairman of HYBE and founder of the global entertainment powerhouse, has issued a formal apology to employees and promised swift cooperation with authorities amid an ongoing investigation surrounding allegations of fraudulent practices during the company’s 2020 initial public offering (IPO).



In an internal email to staff, Bang expressed deep remorse over recent events:
“Since last year, and particularly in recent days, both the company and my name have been repeatedly mentioned in troubling news reports. As the founder and chairman of HYBE, I take full responsibility and would like to sincerely apologize to all members who may have been disheartened by these developments.”



He added, “I’ve endured months of anguish for not responding more swiftly to various allegations and controversies, despite knowing how much concern this has caused among our team. However, I can no longer allow personal matters to continue burdening the company and the broader industry.”



Bang explained that extended stays abroad over the past few years were due to crucial artist projects and global business expansion. However, he affirmed:
“I will now prioritize the legal proceedings, temporarily putting aside urgent meetings and work commitments, and return to Korea promptly to fully cooperate with the authorities.”



HYBE has yet to release an official statement regarding the details of the investigation. The case, currently under review by South Korean financial authorities, pertains to suspicions of market manipulation and misrepresentation during HYBE’s high-profile stock market debut in 2020.

 

 

 

 

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