Bang Si-hyuk’s warrant battle is heating up again. After prosecutors reportedly rejected police requests for detention twice, the Seoul Metropolitan Police have now moved to seek another warrant. Escalating the already high-profile HYBE chairman investigation and turning it into an unusual public battle between investigators and prosecutors
What are the HYBE IPO allegations on Bang?
Investigators believe that in 2019, HYBE went public and Bang Si-hyuk intentionally misled early shareholders. He told the investors that the company had no plans to go public soon or that the listing would be significantly delayed.
Because the investors believed that the company wouldn’t be listed on the stock market for a long time, they were convinced to sell their shares early. These investors sold their shares to a private equity fund that was allegedly secretly linked to Bang.
Authorities assume those shares were later sold at a much higher valuation once the IPO went ahead. Investigators say Bang made roughly ₩190 billion in his personal profit, or about $136 million.
Why is Bang Si-hyuk Under a Travel Ban?
Authorities are focused on Bang because the illegal trading was so large, and he might try to run away, and the risk that he might flee the country is high. He has been banned from traveling since August 2025, especially because another partner in the crime reportedly went to the U.S. in June 2025 and never came back.
Why People Protest Outside the American Embassy
Now, people outside of the entertainment industry are also paying attention. In early May 2026, hundreds of people gathered to protest against the U.S. interfering in South Korea’s internal politics. Some protesters were very angry about the U.S. asking Seoul to lift travel bans on certain high-profile figures.
HYBE denies wrongdoing
HYBE has firmly denied the K-pop investor fraud allegations. The company says the agreement at issue was shared with IPO underwriters, who advised that separate disclosure was unnecessary. Bang Si-hyuk has also denied wrongdoing, and his legal team said they regret the warrant request while stressing that he has cooperated fully with the investigation.
