Overview
- The Seoul Southern District Prosecutors' Office, which ruled Friday that detention was not justified, sent the police request back and asked for more investigation.
- Police had sought the warrant earlier in the week on claims that in 2019 Bang told investors there were no plans for a stock listing, which led them to sell shares to a private equity fund before Hybe went public.
- Investigators say a secret profit-sharing deal promised Bang 30% of post-IPO resale gains, with alleged proceeds estimated at roughly 190–260 billion won and about 200 billion won tied to the fund payment.
- Bang denies wrongdoing and his lawyers say he has cooperated for months under a travel ban that has kept him in South Korea since August 2025.
- The probe began with a late-2024 tip and broadened with raids at the Korea Exchange and Hybe in 2025, and police say they may reapply for a warrant after they strengthen the case.