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Bang Si-hyuk Still Has to Do “This” Regardless of HYBE’s Bankruptcy

Even if HYBE goes bankrupt, Bang Si-hyuk will still have to spend 7.6 million USD to follow a demand of Lee Soo-man

Celebrity / September 27, 2024 / By

Bang Si-hyuk HYBE Lee Soo Man

It is known that HYBE has committed to investing 10 billion won (approx 7.6 million USD) over a decade for Lee Soo-man’s “Tree Planting” project.

To elaborate, In a significant move during the acquisition of 14.8% of Lee Soo-man’s shares in SM Entertainment in 2023, HYBE made a notable commitment to support Lee Soo-man’s Environmental, Social, and Governance (ESG) initiatives. Specifically, the company pledged to provide a substantial total of 10 billion won over a period of ten years to facilitate various activities under Lee Soo-man’s guidance, with a particular focus on his innovative tree planting initiative.

bang si hyuk
lee soo man bang si hyuk

Lee Soo-man, former head of SM Entertainment, is spearheading the “Tree Planting” project. This initiative is designed to engage K-pop fans in actively participating in environmental conservation. By planting trees, fans are not only contributing to the restoration of the ecosystem but also creating a tangible connection to their favorite artists.

The agreement stipulates that HYBE will disburse the promised 10 billion won to Lee Soo-man in increments of 1 billion won each year, starting from the conclusion of the stock sale. 

This issue has resurfaced due to the significant drop in stock prices amidst HYBE’s recent scandals, including allegations of media manipulation, internal strife among subsidiaries, and reports that Bang Si-hyuk is using company funds for personal gain.

Upon being reminded of this fact, K-netizens couldn’t help but find the situation extremely funny. Below are some netizens’ responses to this issue:  

  • Planting trees with Hitman Bang’s money???? ㅋㅋㅋㅋㅋㅋ  
  • ㅋㅋㅋㅋㅋㅋㅋ Lee Soo-man wins  
  • HYBE has to buy SM shares from Lee Soo-man at a high price… But still can’t get SM… HYBE set the condition that Lee Soo-man couldn’t be a producer, so he established a company and sent trainees to China… Now they even have to pay money to Lee Soo-man to plant trees…  
  • This is the only useful thing Bang Si-hyuk can do.   
  • If Mr. Bang goes to plant trees himself, it would be good for his health.  
  • Can’t help but laugh ㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ  
  • Lee Soo-man sold SM shares to Bang at around 120,000 won (about 90 USD). Currently, the SM stock price is about 60,000 won.  
  • Lee Soo-man is truly a money-making genius ㅋㅋㅋㅋㅋㅋㅋ  

Source: Theqoo

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