HYBE Chairman Bang Si-hyuk Returns to Seoul Amid Police Investigation: BTS Album Production Halted
The production of BTS's upcoming album in the United States was abruptly halted as HYBE's chairman, Bang Si-hyuk, returned to Seoul to address a police investigation. Bang Si-hyuk arrived in Seoul on August 11, cutting short his stay in the U.S. where he was overseeing BTS's album preparations. The investigation is related to allegations of securities fraud surrounding HYBE's 2020 initial public offering, with claims that Bang Si-hyuk misled investors and profited from the IPO.
HYBE has pledged full cooperation with authorities in the investigation. The news of Bang Si-hyuk's return to Korea came after a leaked email where he acknowledged the confusion and frustration within the company due to his extended absence. BTS, who had been working in Los Angeles for their 2026 comeback, has reportedly paused album production until further notice.
The legal dispute centers around whether a profit-sharing agreement between Bang Si-hyuk and a private equity fund violates securities trading laws. Despite Bang Si-hyuk's assertions that all contractual details were disclosed during the IPO process, police have conducted raids on HYBE's headquarters and the Korea Exchange as part of their investigation. The National Tax Service has also launched a special tax probe into HYBE, potentially leading to long-term implications for the company and its chairman.
Despite these challenges, HYBE recently reported a year-on-year increase in revenue for Q2. Meanwhile, BTS has been in Los Angeles for a songwriting camp, collaborating with international producers on their upcoming album. Speculation about a collaboration with Charlie Puth has also surfaced following sightings of the artist with the group.