HYBE Field Investigation is being made
It has been confirmed that the Fair Trade Commission has launched an on-site investigation into HYBE, which is designated as a large business group for the first time as an entertainment company.
According to related industries on the 24th, the Fair Trade Commission has dispatched an investigator to HYBE’s headquarters for on-site investigation. HYBE is reportedly under investigation on charges of falsehood or omission in the ‘data designated as a large business group’ submitted to the Fair Trade Commission.
Previously, the FTC newly designated Hive as a large business group in May. Accordingly, it is necessary to disclose all shareholder status and major management matters of HYBE-controlled affiliates as well as HYBE, a listed company, to the capital market.
As it is designated as a conglomerate group, the HYBE founder is also subject to the regulation on defrauding his private interests. Bang Si Hyuk is the largest shareholder with a 31.8 percent stake in HYBE, and has been designated as the same person (total number) along with the designation of the HYBE conglomerate group. Accordingly, the FTC is also monitoring Bang Si Hyuk’s defraudation of his private interests. The move is aimed at blocking all work from being given to affiliates whose family members are shareholders, including Bang’s relatives.
An official from the FTC said, “We cannot confirm whether there is an on-site investigation,” but added, “If there is a violation of the law, we will respond strictly.”
Previous article about HYBE, BTS Reunion as Jin’s discharge has happened, CLIKC HERE.
The source Korean article- https://biz.chosun.com/policy/policy_sub/2024/06/24/6J7DQSR3XJAKVAZZG7CGZGVEQI/?utm_source=naver&utm_medium=original&utm_campaign=biz
