South Korean prosecutors have rejected a police request for an arrest warrant for HYBE founder and chairman Bang Si-hyuk for the second time in two weeks.
That’s according to multiple Korean news outlets, including The Korea Herald and Korea JoongAng Daily, which reported on Thursday (May 7) that the Seoul Southern District Prosecutors’ Office returned the refiled warrant, saying police had not carried out the supplementary investigation it had previously demanded.
“After reviewing the arrest warrant, [we] rejected the request as areas that had been requested for further investigation were not conducted,” the prosecution said, according to The Korea Herald.
Police first filed an arrest warrant request against Bang on April 21.
Prosecutors rejected that initial request on April 24, citing insufficient evidence and requesting further investigation.
Police refiled the warrant on Thursday (April 30), but prosecutors returned it again on Wednesday (May 6).
Bang is accused of misleading investors in 2019 by telling them that HYBE (then known as Big Hit Entertainment) had no plans to pursue an initial public offering, while the company was allegedly already undergoing pre-IPO procedures.
Investors reportedly sold their holdings to a private equity fund based on those assurances.
That fund then sold its shares after HYBE’s 2020 listing and regulators allege Bang generated approximately 260 billion won (approximately $179 million) in profits through the scheme, according to The Korea Herald.
Bang has denied the allegations, saying the IPO followed the law and regulations, according to The Korea Herald.
His attorney said it was “regrettable that an arrest warrant was requested despite long-term sincere cooperation with the investigation,” according to Seoul Economic Daily.
“We will faithfully participate in future legal proceedings and do our best to explain our position.”
The case has been running since late 2024.
Investigators raided the Korea Exchange and HYBE‘s headquarters in 2025, and Bang returned to Seoul from the United States in August that year to face the investigation.
He has reportedly been under a travel ban since and was questioned by police multiple times between September and November.
The probe has coincided with BTS‘s return to the global stage.
The group’s BTS WORLD TOUR ARIRANG — which HYBE describes as the largest-scale world tour in K-pop history — kicked off in April and is currently in the midst of its US leg, with 85 shows scheduled across 34 cities.
The US Embassy in Seoul recently sent a letter to Korean police requesting that Bang and other HYBE executives be permitted to travel to the United States, citing the tour.
HYBE has said it did not request the embassy’s intervention.
The company posted record Q1 2026 revenue of 698.3 billion won (approximately $477 million), up 39.5% YoY, driven by the BTS comeback.Music Business Worldwide
