08 May,2026 06:21 PM IST | Mumbai | mid-day online correspondent
Bang Si-hyuk (Instagram)
Bang Si-hyuk has once again avoided arrest after South Korean prosecutors rejected a second police request seeking an arrest warrant against the HYBE chairman. The latest development marks another major twist in the ongoing investigation surrounding alleged unfair profits tied to HYBE's pre-IPO stock dealings.
According to reports, the Seoul Southern District Prosecutors Office rejected the renewed warrant request because investigators allegedly failed to carry out additional inquiries that prosecutors had previously asked for after the first application was denied. Officials reportedly stated that the supplementary investigation conducted by police was still insufficient to justify detention.
This is now the second failed attempt by police to secure an arrest warrant against Bang. The first request was reportedly rejected in April after prosecutors argued that investigators had not adequately demonstrated the legal necessity for detention. Police later refiled the request last week, but prosecutors once again sent it back.
The investigation centres around allegations that Bang misled investors in 2019 before HYBE's highly successful IPO. Authorities suspect that investors were allegedly told that a public listing was unlikely, which may have encouraged them to sell their shares. Investigators claim that Bang and related private equity entities later gained enormous financial benefits once HYBE eventually went public.
Reports estimate the alleged unfair gains at nearly 260 billion won, approximately 179 million USD. Under South Korea's Capital Markets Act, obtaining profits through deceptive practices or false statements related to investment products can lead to severe criminal penalties, including life imprisonment in cases involving exceptionally large gains.
Despite the growing scrutiny, Bang has continued to deny all allegations. He has maintained that HYBE's IPO process complied fully with legal procedures and regulations. The music executive has also reportedly cooperated with investigators during multiple rounds of questioning over the past year.
The case has attracted global attention because of HYBE's massive influence in the entertainment industry through acts like BTS. Online reactions have been sharply divided, with some fans defending Bang and criticising the prolonged investigation, while others argue authorities should continue examining the allegations thoroughly. Discussions across social media and Korean entertainment forums intensified after news of the second rejected warrant request became public.
Although prosecutors have again refused the arrest request, the investigation itself remains active. Legal experts believe authorities could continue gathering evidence and potentially attempt another warrant application in the future if additional findings emerge. For now, however, Bang Si-hyuk remains free as one of the most closely watched corporate investigations in the Korean entertainment industry continues unfolding.
