New Arrest Warrant Against HYBE CEO Bang Si-Hyuk? South Korean Police's SHOCKING Step After First Rejection

The legal troubles surrounding Bang Si-Hyuk are nowhere near stopping, as South Korean police consider reapplying for an arrest warrant after their initial request was rejected by prosecutors. The development comes amid an ongoing investigation into alleged financial misconduct linked to HYBE’s 2020 IPO. While prosecutors have cited insufficient evidence for detention at this stage, authorities are now preparing to strengthen their case through further investigation. Since HYBE managed BTS, this case has gotten infinitely bigger on the internet and is grabbing eyeballs.

According to reports in Koreaboo, the Seoul Metropolitan Police Agency’s Financial Crime Investigation Unit is planning a supplementary investigation into Bang Si-Hyuk under the Capital Markets Act. Their focus is firmly on allegations of fraudulent unfair trading, a serious charge that could have significant legal consequences if proven.

The first arrest warrant application, submitted on April 21, was returned by prosecutors on April 24, with officials stating that there was not enough justification to detain Bang at this point. This has now prompted police to gather additional evidence before deciding whether to file a second request. The case itself has already faced criticism for its pace. Investigations into the matter began over a year and four months ago, and the delay in securing a warrant has raised concerns about procedural efficiency. If the reapplication also faces rejection, police have the option to escalate the matter to a Warrant Review Committee, although such reviews rarely result in immediate approval of warrants.

For the uninitiated, these allegations are tied to HYBE’s 2020 initial public offering. Police claim that in 2019, Bang misled early investors by suggesting there were no plans for an IPO, encouraging them to sell their shares to a private equity fund. Investigators further allege that Bang had secured a side agreement guaranteeing him a significant share of post-IPO profits from the fund.

Reports claim that the alleged gains from this arrangement could exceed 190 billion won, making it one of the most significant financial probes in South Korea’s entertainment sector in recent years. However, Bang has denied all allegations, maintaining that the IPO process complied with all legal and regulatory requirements. Prosecutors, while not dismissing the case, have stated that the current evidence does not justify arrest, noting that Bang is not considered a flight risk. Still, the investigation remains active, and authorities appear determined to continue pursuing the case.

This is not the first time tensions have surfaced between police and prosecutors in the case. In 2025, authorities applied twice for search and seizure warrants related to Bang Si-Hyuk, both of which were initially rejected. It was only after a third attempt that permission was granted, allowing investigators to conduct a search of HYBE’s headquarters.