HYBE Founder Bang Si Hyuk Apologizes to Employees Amid Allegations of IPO Fraud

Bang Si Hyuk, founder and chairman of the K-pop agency HYBE, has finally spoken out regarding allegations of fraud in the IPO process of his company. Through an official email, Bang conveyed a direct apology to all HYBE employees.

This apology comes amid growing public attention towards the case that has implicated him. In the email, Bang acknowledged that this situation has caused anxiety and emotional burden, both for employees and the broader HYBE ecosystem.

Curious about the specific apology from Bang Si Hyuk? Let’s dive into the following review to find out.

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1. A Direct Apology from Bang Si Hyuk

Bang Si Hyuk (credit: instagram/hitmanb72)

Bang Si Hyuk began his clarification by openly apologizing to the entire HYBE team. In an email sent on Wednesday, August 6, 2025, he wrote that he was aware of the significant concerns arising from media coverage.

"Over the past year, a lot has been said and written about me in the media," Bang Si Hyuk stated.

2. Concern for the HYBE Team

Bang Si Hyuk (credit: instagram/hitmanb72)

In the same letter, Bang also expressed his respect and empathy towards all employees, artists, and partners of HYBE. He wrote that whatever the company has achieved is inseparable from the contributions of everyone involved.

"What we do is very meaningful to me, and I greatly appreciate everyone at HYBE who has worked hard to elevate K-pop and Korean culture to the global stage," added Bang Si Hyuk.

3. Commitment to Collaborate with Investigators

Bang Si Hyuk (credit: instagram/hitmanb72)

In an effort to ease tensions, Bang emphasized that he will soon return to Korea to cooperate with the investigators. The goal is to ensure that the investigation process runs smoothly and transparently.

"By returning to Korea, I can more easily collaborate with the authorities and alleviate the stress or anxiety that the HYBE community may be feeling," explained Bang Si Hyuk.

This step also serves as a personal responsibility to ensure that the HYBE team's focus is not continuously disrupted by negative news.

4. Allegations and Investigation Process

Bang Si Hyuk is accused of providing misleading information to early investors in 2019 regarding the IPO schedule of HYBE. At that time, he was reported to have stated that the IPO would be postponed, while secretly arranging for a private equity firm to purchase shares through a special purpose company (SPC).

After HYBE officially went public, the SPC sold shares at a significant profit. From that transaction, Bang is reported to have received about 30 percent of the total profit through a pre-arranged shareholder agreement. Currently, the case is under investigation by the National Tax Service of Korea (NTS) regarding alleged tax evasion.

5. Frequently Asked Questions (FAQ)

What is the main content of Bang Si Hyuk's apology?
He apologized for the concerns raised and stated that he would fully cooperate in the investigation process.

Why is Bang Si Hyuk highlighted in the alleged IPO fraud?
He is accused of providing misleading information to early investors and profiting from stock transactions through a special purpose company (SPC).

What are Bang Si Hyuk's next steps?
He plans to return to Korea to support the investigation process and mitigate the negative impact on HYBE's internal affairs.

What is the impact on HYBE and its employees?
This situation creates moral and emotional pressure, but Bang requests that the achievements of the HYBE team not be overshadowed by this personal issue.

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(kpl/psp)