Ultimately, ordinary music listeners rarely pay attention to the financial side of the K-pop industry, as it usually operates behind the scenes. However, the case involving Bang Si-hyuk, founder of HYBE Corporation, who is currently under investigation for alleged stock price manipulation, has drawn significant public and international attention.

This stems from the fact that Bang is considered the leading entrepreneur in South кσяєα’s music industry and the only figure from the entertainment sector to be listed among the nation’s billionaires. Notably, he also ranks among the top company founders with the highest personal share value in newly listed firms in the country.

Additionally, with HYBE leading the K-pop industry and Bang’s “from zero to hero” journey alongside global superstars BTS, the CEO once commanded enormous respect as an inspirational figure. Therefore, the recent allegations of financial misconduct against him have caused deep disappointment among the public.

In a ѕнσ¢кing development revealed on Wednesday, Bang reportedly faces a high possibility of detention, not merely continued questioning, in the coming weeks. According to Sports Kyunghyang, South кσяєαn ρσℓι¢є are currently conducting a legal review of the HYBE Chairman Bang Si Hyuk’s alleged violation of the Capital Markets Act, specifically concerning unfair trading activities.

A representative from the Seoul Metropolitan Police Agency’s Serious Crime Investigation Division stated that all necessary and supplementary interrogations had been completed, and that the ρσℓι¢є are currently analyzing the evidence, collected documents, and testimonies. The spokesperson added: "As reported, additional questioning has been conducted, and we are thoroughly analyzing the collected materials and testimonies. We are also carrying out a legal review."

According to attorney Jung Tae-won of LKB & Partners, this marks a significant step forward in the investigation. He explained: "When ρσℓι¢є say they are conducting a 'legal review,' it doesn't simply mean examining the law. It means determining, based on the evidence and testimony gathered, whether a crime has actually been committed. The evidence may be ambiguous, so further review could be necessary. The key issues are whether there was deception of investors and intent, as the outcome of this case could significantly impact trust in the capital market."

He further emphasized: “ρσℓι¢є may seek an arrest warrant to secure custody, while the defense could argue there's no risk of evidence destruction or fιgнт and request an investigation without detention. It could turn into a battle between offense and defense, but given the ρσℓι¢є's current stance, the likelihood of a warrant request appears high”.

The South кσяєαn ρσℓι¢є are said to have launched the investigation in late 2024, conducting raids at HYBE headquarters in Seoul and the кσяєα Exchange office in Yeongdeungpo District. Reports indicate that they have secured the necessary evidence and documentation related to the case.

In September 2025, the chairman underwent two rounds of ρσℓι¢є questioning, along with four to five other suspects. However, they were unable to investigate CIO Kim Joong-dong, believed to have co-led the profit distribution plan during HYBE’s IPO with Bang Si-hyuk, as he fled to the United States in June, hindering progress.

By early October, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency issued a travel ban against Bang to prevent him from leaving the country amid the ongoing probe. Less than a month later, reports that an arrest warrant was being considered further fueled public belief that Bang might indeed be guilty.

Bang Si Hyuk is not just a businessman — he is a symbol of an era, one that saw K-pop evolve into a global phenomenon. His career has always embo∂ιєd two defining forces: artistic instinct and financial vision. And that duality is precisely what makes the current situation so complex — the fall of an artist moves hearts, but the collapse of an entire ecosystem shakes the market itself.

Now, the question looms: Will this storm sweep away the very empire Bang Si Hyuk so carefully built? The world is watching.