In an internal email sent to all HYBE employees on the morning of August 6, Bang Si-hyuk, Chairman and founder of HYBE, expressed deep remorse and pledged full cooperation with authorities upon his return to Korea.
“I will now set aside urgent projects and business meetings to promptly return to Korea and fully prioritize cooperating with the authorities’ investigation procedures,” he wrote.
Bang, who has been spending extended periods abroad due to artist music production and business expansion efforts, acknowledged the mounting pressure and concerns his situation has placed on the company.
“My personal matters have added to an already difficult year, and now my name and the company are being mentioned in unfavorable news daily. I feel a heavy sense of responsibility and sincerely apologize to all members who may have felt uneasy,” he said.
HYBE is under investigation for alleged Capital Markets Act violations, with police raiding its Yongsan HQ on July 24. Chairman Bang Si-hyuk is accused of misleading investors by claiming there were no plans for an IPO, only to facilitate a private equity fund—reportedly linked to him—to sell shares to a special purpose company (SPC) ahead of HYBE’s actual IPO in 2019.
In a message to staff, Bang apologized, acknowledged the controversy, and reflected on whether his confidence may have come across as arrogance, saying he’s now carefully examining any missteps during the company’s growth.
“I have always taken pride in doing my best to remain honorable. But now, I humbly reflect on whether that confidence may have sometimes been perceived as arrogance… I am deeply examining whether there were shortcomings in the growth process I missed or failed to address.”
This is the first formal communication Bang Si-hyuk has issued since the allegations surfaced, and while no official charges have been filed yet, his statement signals a pivotal moment in the investigation.
Sources: daum