South Korean prosecutors have raided HYBE’s headquarters as part of an investigation into an employee accused of insider trading

South Korean prosecutors have raided HYBE’s headquarters as part of an investigation into an employee accused of insider trading. The employee, identified as Mr. A, allegedly knew in advance about HYBE’s 2021 investment in YG Plus and bought shares, making an unlawful profit of 240 million KRW. Separately, Seoul police applied for a search warrant for HYBE. Authorities are also investigating HYBE chairman Bang Si-hyuk for allegedly misleading shareholders in 2019 by denying IPO plans while preparing to go public. The Financial Supervisory Service is conducting a parallel probe into the matter involving fraudulent and unfair trading practices. #hybe #bangsihyuk