HYBE’s Bang Si Hyuk Abruptly Cancels Important “Beyond The BTS Phenomenon” Speech Amid Fraud Accusations

The speech was expected to be about the future of K-Pop.

HYBE chairman and founder Bang Si Hyk has suddenly withdrawn from a high-profile appearance amid growing legal scrutiny over alleged fraudulent activities. He also canceled the speech he was supposed to give at the event.

| Yonhap

Bang was scheduled to deliver a keynote address at the Korea Enterprises Federation’s (KEF) Summer Jeju Forum, a major annual gathering that brings together South Korea’s leading business figures and industry experts. The forum, set to take place from July 16 to 19 at the Lotte Hotel in Jeju, serves as a platform for sharing insights on business strategy and innovation across various sectors.

This year’s event was to be particularly significant for HYBE, which only recently joined the KEF as a member company. Bang was expected to speak on the topic, “Beyond the BTS Phenomenon: The Future Of K-Culture,” addressing K-Pop’s current challenges and outlining HYBE’s global expansion strategy aimed at long-term growth.

| Weverse

However, as legal troubles surrounding Bang have intensified, concerns were raised about his presence at such a public business forum. Reports now confirm that he has pulled out of the event. HYBE CEO Lee Jae Sang will reportedly step in to deliver the speech in his place.

| Billboard

The cancellation follows the announcement by South Korea’s Securities and Futures Commission (SFC) of its decision to refer Bang to the prosecution. Under the Financial Services Commission, the SFC suspects Bang of engaging in fraudulent and unfair trading prior to HYBE’s initial public offering. According to authorities, Bang allegedly misled early investors about IPO plans while arranging for shares to be sold to a private equity fund connected to an acquaintance. He is also accused of entering a secret agreement to receive a portion of the profits from the deal, details that were reportedly omitted from HYBE’s official securities filings.

The case is expected to be reviewed during the SFC’s upcoming meeting on July 16.

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