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Bang Si-hyuk, chairman of HYBE, issued his first public statement on August 6 regarding allegations of "fraudulent misconduct" during the company’s initial public offering (IPO). In an internal email to employees, he apologized and pledged full cooperation with authorities, stating, "I will sincerely explain myself during the investigation."

According to HYBE, Bang wrote, "Although I have spent extended periods abroad in recent years due to music work and business expansion, I will return to Korea promptly to prioritize the investigation." He added, "As I did during the financial authorities’ inquiry, I will provide a sincere explanation of the facts."

Acknowledging the controversy, Bang said, "I can no longer allow a personal issue to burden the company and the industry," and expressed "a deep sense of responsibility as the founder" in light of negative public sentiment surrounding HYBE.

This marks Bang’s first official response since allegations surfaced that he disclosed plans to delay HYBE’s IPO to venture capital firms and later transferred shares to a private equity fund linked to him. The probe intensified last month with a police raid on HYBE’s Yongsan headquarters, followed by an indictment from the Financial Services Commission’s Securities and Futures Commission, an investigation by the Financial Supervisory Service’s special judicial police, and a tax probe by the National Tax Service.

"I deeply regret the delay in addressing this matter," Bang stated. "I will do my utmost to resolve all issues so that our members and artists can focus solely on their creative work and activities."

He added, "I have pursued the dream of advancing the music industry, but I humbly reflect on whether that conviction sometimes came across as arrogance."