[theqoo] BANG SIHYUK, TO LEVERAGE U.S. PRESSURE LIKE COUPANG’S CASE?… POLICE SEETHING

Prosecutors are continuing to deliberate on whether to request an arrest warrant for HYBE Chairman Bang Sihyuk on the 22nd.

The Seoul Southern District Prosecutors’ Office received from the police the previous morning an application for an arrest warrant and investigation records concerning allegations that Chairman Bang violated the Capital Markets Act, and is currently reviewing whether detention is necessary.

It is reported that prosecutors have not yet made a decision on whether to request the warrant. A prosecution official said, “At this stage, there is nothing we can confirm.”

Police reportedly emphasized the seriousness of the case, such as the scale of the alleged offense exceeding 100 billion won, as well as concerns about possible destruction of evidence, noting that Bang changed his mobile phone just before questioning.

However, Bang’s side argues that he cooperated with police search and seizure procedures and has already undergone five rounds of suspect questioning, so there is no risk of evidence destruction.

Some speculate that the impression that Bang was “following Coupang’s playbook” may have influenced the police’s decision to seek his detention.

In Coupang’s case, suspicions persisted that its lobbying efforts in the United States had an impact, as an investigation into a personal data leak coincided with tariff pressure from the U.S.

There were even reports that the U.S. side conveyed to the Korean government that high-level Korea–U.S. diplomatic and security consultations would be difficult if the personal safety of Coupang Inc. Chairman Kim Beom-seok were not guaranteed.

Amid this, the U.S. Embassy in Korea reportedly sent a letter requesting the lifting of Bang’s travel ban, prompting some within the police to react strongly, suspecting that Bang may be employing a strategy similar to Coupang’s.

There are also suspicions that he may have tried to indirectly pressure the investigation by leveraging connections such as BTS concerts and participation in events marking the 250th anniversary of U.S. independence to influence the U.S. side. Additionally, concerns have reportedly been raised that a suspected accomplice in the case left for the U.S. last year and has not returned, raising the possibility that Bang could coordinate stories or attempt to flee.

However, HYBE appears rather perplexed by the embassy’s letter, saying there is no reason to take a risky step that could provoke public sentiment, especially given the well-known Coupang case.

A HYBE official drew a line, saying, “We have not officially been asked to attend any events, nor can we request that the travel ban be lifted.”