[theqoo] BANG SIHYUK, THOUGHTS ON 'OWNER RISK'

Financial authorities have decided to file a criminal complaint against Bang Sihyuk, Chairman of HYBE’s Board of Directors, over suspicions of fraudulent and unfair trading in the stock market. The allegation centers around HYBE’s IPO in 2020, during which Bang is suspected of having illicitly gained around 200 billion KRW (approximately $145 million USD) in listing profits by circumventing regulations through a private equity fund. Authorities expressed concern that this process may have caused significant harm to minority shareholders. In response, HYBE stated, “We apologize for causing concern,” but added, “Underwriters reviewed the process and found no legal issues.”

President Lee Jaemyung recently emphasized harsh punishments for acts that disturb the stock market. He went so far as to use the phrase, “If you mess around, you’ll be ruined,” and pledged to implement a “one-strike out” policy for unfair trade practices. With the President personally stepping in, it’s no surprise the relevant ministries are moving quickly. From a market perspective, such actions are certainly desirable. However, the fact that Bang Sihyuk was the first to be targeted by this crackdown raises concerns.

As is well known, Bang Sihyuk is the man behind BTS, K-pop’s biggest global success. Dubbed the “father of BTS,” he has been the driving force behind the K-pop phenomenon since BTS debuted in 2013. It’s hard to imagine K-pop today without Bang and BTS. HYBE, too, is no longer just an entertainment company. With over 2,000 employees, a market cap of approximately 11.5 trillion KRW (about $8.3 billion USD), total assets of 5.25 trillion KRW, and 2023 revenue of 2.26 trillion KRW, it’s now a major content powerhouse and ranks around 85th among South Korea’s largest business groups. The company is deeply embedded in the economy, far beyond just the artist-fan relationship.

Given this, an investigation into Bang Sihyuk as a “showcase example” feels worrisome. If there was wrongdoing, it certainly shouldn’t be ignored. But the timing and approach feel unfortunate. This comes just as BTS is wrapping up their military hiatus and preparing for a long-anticipated full-group comeback. HYBE had also just managed to shake off major risks by winning a noisy legal battle with NewJeans. It was finally time for BTS and K-pop to rise again, but now, they’ve been hit by an unexpected blow: “owner risk.” In the entertainment industry, owner risk can be far more damaging than in regular corporations. That’s because, as seen with SM Entertainment’s Lee Sooman, YG’s Yang Hyunsuk, and JYP’s Park Jinyoung, the “owner” is often an artist and celebrity in their own right.

original post: here

1. I'm a fan of Bangtan but I've never imagined that it would come to this. Who is even Bang Sihyuk?

2. What are they saying? I'm a fan of Bangtan but please catch Bang Sihyuk already

3. Making a fuss. Who is even Bang Sihyuk? Just catch him already

4. I'm a Bangtan fan but I hate Bang Sihyuk. Please have a safe farewell with him

5. Who do they think that HYBE is?ㅋㅋ

6. Let's go to jail

7. Because of HYBE, all of the foreign fans are slowly turning into inc*ls. We really need to get rid of him to survive

8. Yeah, it will make no difference on BTS, stop dreaming

9. ㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ They were doing even better when he was less present ^^ we're getting rid of the invasive specie ㅠㅠ Farewell~

10. ?? Is he an idol himself?

New post

Next Post

✉ PC Stories