Overview
- Seoul police issued a fifth summons for Bang on Nov. 18 in the pre-IPO unfair trading investigation.
- An SMPA official said the inquiry has made “considerable progress,” withholding additional details.
- Investigators allege he denied IPO plans in 2019 to induce sales to a special-purpose company linked to a private equity fund connected to him.
- Police say he later received about 30% of proceeds — roughly 190 billion won — when those shares were sold after Hybe’s 2020 listing under a return-sharing deal.
- Authorities searched the Korea Exchange on June 30 and raided Hybe’s headquarters on July 24; Bang has pledged full cooperation, and a conviction under the Capital Markets Act could carry severe prison terms.