HYBE: probes into the chairman's 2020 IPO dealings, from regulator referral to police referral
HYBE: probes into the chairman's 2020 IPO dealings, from regulator referral to police referral: a public-record watch file compiled by Falling Shares Intelligence from filings and exchange disclosures, as of 2026-11-09. Police began a preliminary probe in December 2024 into how HYBE's chairman and others handled the company's 2020 listing.
From a December 2024 police probe and a July 2025 regulator referral to the September 2026 police referral of the chairman to prosecutors, which he denies.
Falling Shares Intelligence, Edited by Wung Thomas, Editor-in-Chief. As of .
Summary
- Police began a preliminary probe in December 2024 into how HYBE's chairman and others handled the company's 2020 listing.
- In July 2025 the Securities and Futures Commission referred the chairman and three others to prosecutors; HYBE said it would cooperate and believed he had done nothing wrong.
- On 3 September 2026 police referred him and four others to prosecutors, putting alleged gains at KRW 263.1bn. He denies wrongdoing and prosecutors had twice rejected police requests for his arrest.
Key figures
| Police estimate of gains | KRW 263.1bn (Police allegation; assets preserved pending any prosecution) |
|---|---|
| Regulator referral | 16 Jul 2025 (Securities and Futures Commission, to prosecutors) |
| Police referral | 3 Sep 2026 (Chairman and four others, without detention) |
Regulator referral and company response
Police open a preliminary probe
Police began a preliminary investigation in December 2024 into HYBE's 2020 listing, according to the Korea Herald. (Dec 2024)
Securities and Futures Commission refers the chairman to prosecutors
The Securities and Futures Commission decided to file a complaint against HYBE's chairman and three others for suspected violation of the Capital Markets Act's ban on unfair trading. Reports said the complaint concerned a profit-sharing arrangement that was not disclosed in the securities registration statement for the 2020 IPO. (16 Jul 2025)
HYBE says it will cooperate and the listing was lawful
HYBE said it would cooperate with the investigation, believed its chairman had done nothing wrong, and maintained that the listing process complied with laws and regulations. (Jul 2025)
Police investigation and referral
Police raid HYBE's Seoul headquarters
Police raided HYBE's Seoul headquarters in July 2025 and questioned the chairman five times over the course of the probe. (Jul 2025)
Police refer the chairman and four others to prosecutors
The Seoul Metropolitan Police Agency referred the chairman and four others, including HYBE executives and private-equity officials, to the Seoul Southern District Prosecutors' Office on suspicion of breaching the Capital Markets Act, without a detention request. Police allege that in 2019 existing Big Hit shareholders were told there were no listing plans while IPO preparations were under way, and that shares bought through a linked private-equity fund were sold after the October 2020 listing for about KRW 263.1bn in gains. A court approved a police request to preserve assets equal to that sum. (3 Sep 2026)
Denials and steps not taken
Prosecutors reject two police arrest-warrant requests
Police sought arrest warrants for the chairman twice earlier in 2026. Prosecutors rejected both requests, saying more investigation was needed. (2026)
Chairman denies wrongdoing
The chairman denies wrongdoing. His side maintains the transactions were legal and that he did not deceive investors about HYBE's IPO plans. (3 Sep 2026)
Standard
This file compiles regulator, police and prosecutor actions as reported, company statements and published reporting about HYBE Co., Ltd.. Allegations are attributed to those who made them. An investigation is not a charge, a charge is not a finding, and nothing here is a finding of wrongdoing unless a competent authority has made one. HYBE and its chairman deny wrongdoing, and no indictment had been reported as of the date above. Individuals are not named unless an official document names them and they are central; otherwise roles are used. This is news coverage for information only, not investment advice.
Right of reply
HYBE Co., Ltd., and anyone named in a record cited here, can send corrections or comments to info@fallingshares.com (or directly to the Editor-in-Chief, Wung Thomas, at wungthomas@fallingshares.com). Material responses will be published alongside the relevant entry.