BTS's Bang Si-hyuk, the chairman of HYBE, is set to be reported to the prosecution. He is accused of violating capital market laws during the company's listing process.

The Capital Market Investigation Committee, a deliberative body under the Financial Services Commission's Securities and Futures Commission (SFC), held a meeting on the 7th to review the case related to Chairman Bang.

It is reported that during this meeting, the decision to file a complaint against Chairman Bang was made, concerning allegations that he secretly contracted with private equity funds and provided false information to investors.

The SFC plans to address the matter regarding Chairman Bang at its regular meeting scheduled for the 16th. Since the Investigation Committee has issued an opinion for legal sanctions, it is expected that the complaint will actually be filed.

On the 9th, HYBE issued an official statement regarding Chairman Bang's situation. "We sincerely apologize for causing concern regarding news related to our listing process," it stated.

It further added, "We are cooperating with the financial authorities and the police to verify the facts, and we will clarify that the listing was conducted in compliance with laws and regulations, even if it takes time."

Meanwhile, Chairman Bang is facing allegations of fraudulent trading under the Capital Markets Act. He was recently summoned by the Financial Supervisory Service for an investigation.

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