Bang Si-hyuk Under Investigation for Alleged Fraudulent Stock Transactions
Jul 09, 2025
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In an official press release on the morning of the 9th, Hive said "We are sorry for causing concern with news related to our listing process."
They are actively cooperating in confirming the facts between the financial authorities and the police by submitting relevant data along with detailed explanations on the issues currently being raised""Even if it takes some time, I will faithfully explain that the listing was carried out in compliance with laws and regulations at the time."," he stressed.
According to the financial authorities and the financial investment industry, the Capital Market Investigation Review Committee, an organization under the Financial Services Commission, recently decided to file a complaint with the prosecution and handed over its opinion to the Securities and Futures Commission.
The Securities and Futures Commission will hold a regular meeting on the 16th to deal with the agenda related to Chairman Bang.
According to the industry, Chairman Bang signed a contract with a private equity fund (PEF) established by Chairman Bang's acquaintance before listing Hive in 2020 to share 30% of the profits from the stake sale, and has reportedly been settled about 400 billion won since the listing.
Financial authorities suspect that Chairman Bang mobilized private equity funds to circumvent protection (which prevented major shareholders or executives and employees from selling stocks for a certain period of time after listing).
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