South Korean Police Seek to Arrest K-Pop Mogul Behind BTS
South Korean police said Tuesday they want to arrest music mogul Bang Si-Hyuk, the head of the agency behind K-pop supergroup BTS, as they expand an investigation into allegations he illegally earned more than $100 million from an investor fraud scheme.
The Seoul Metropolitan Police Agency confirmed that it had asked prosecutors to seek a court order for the arrest of Hybe’s billionaire founder and chairman Bang.
Bang’s legal team did not directly address the accusations in a statement to The Associated Press but expressed regret that police sought his arrest “despite our long-standing full and consistent cooperation with the investigation.”
“We will continue to cooperate with all legal procedures and will make every effort to clearly explain our position,” the statement said.
Bang, who has been banned from leaving the country since August, is being investigated over allegations that he misled investors in 2019 by saying Hybe did not plan to go public and encouraged him to sell his shares to a private equity fund before moving ahead with the company’s IPO. Police believe the fund may have paid Bang around 200 billion won ($136 million) in a side deal that promised 30% of post-IPO share sale profits.
Hybe officials say Bang has denied any wrongdoing.
Bang’s legal troubles are a major PR setback for Hybe; It comes as BTS embarks on a global tour after a nearly four-year hiatus due to seven of its members completing mandatory military service required for most able-bodied South Korean men.
BTS performed in front of tens of thousands of international fans at their free comeback concert in Seoul last month, and also held several concerts in Goyang, South Korea, and Tokyo. The band will kick off a series of events in the US with a concert in Tampa, Florida, later this month.
Music executive and producer Bang, who founded Hybe as Big Hit Entertainment in 2005, is widely seen as one of the most powerful names in K-pop and has sought to capitalize on BTS’s global success to turn his company into an international pop powerhouse.
Hybe spent nearly $1 billion to acquire Scooter Braun’s Ithaca Holdings in 2021, securing management rights for artists like Justin Bieber and Ariana Grande.
While Hybe’s roster includes BTS as well as some of K-pop’s biggest groups, including Seventeen, Le Sserafim and Katseye, the label has experienced turmoil in recent years, including a highly public spat between Bang and star producer Min Hee-Jin over the popular girl group NewJeans.
The dispute erupted in 2024 when Hybe tried to remove Min as CEO of Ador, the subsidiary that runs NewJeans, and accused Min of illegally trying to gain control of that company. When the dispute went to the courts, Min also accused Bang of hostile treatment and undermining NewJeans in favor of other groups. NewJeans members who described Min as a mentor tried to leave the company after his ouster, but a court last year ruled they must honor their contracts until 2029.
