HYBE’s Bang Si-hyuk tops Korea’s wealthiest newly-listed founders list amid ongoing IPO fraud investigation

On October 15, 2025, K-media Chosun Biz reported that Bang Si-hyuk, chairman of HYBE, tops the list of South Korea’s wealthiest founders of companies listed since 2020. His shares, making up 31.6% of HYBE, are valued at 3.498 trillion won. That alone is 15.6% of the combined 22.48 trillion won held by the top 100 founders, according to corporate data from CEO Score.

The report only counts founders of newly listed companies, leaving out anyone who inherited stakes or ran businesses pre-2020. Close behind, Kim Byung-hoon of APR holds stock worth 2.988 trillion won, followed by Chang Byung-gyu of KRAFTON at 2.086 trillion won.

Among the 100, just two are women: Park So-yeon of Prestige BioPharma and Kim Ju-hee of Inventage Lab. Looking at education, Seoul National University leads with 15 alumni, followed by Yonsei with 8, KAIST with 6, Hanyang with 5, and Korea and Kyung Hee Universities with 4 each.

Most founders come from science and engineering - 66 out of 92 studied in these fields. Business and economics claim 14, humanities 5, medical and pharmaceutical 4, and other areas 3. This comes as Bang Si-hyuk faces an ongoing investigation for IPO-related fraud.

Bang Si-hyuk’s investors’ IPO fraud controversy explained

HYBE's Bang Si-hyuk (Image via Getty)

The case centers on events from 2019, before HYBE went public. Bang Si-hyuk and other executives allegedly told early investors, including venture capital firms, that HYBE had no plans for an IPO. Investors sold their shares to a private equity company reportedly controlled by HYBE insiders.

In reality, HYBE was preparing to go public. After the IPO, the shares rose sharply. Regulators allege Bang received roughly 190 billion won in profits under a secret, prearranged deal with the company. In July, Investigators raided HYBE’s headquarters in Yongsan District and the Korea Exchange in Seoul, securing documents linked to the IPO.

Regulators said the IPO plans were genuine, with auditors hired, but investors sold their holdings under false assumptions. The company is also under scrutiny by the National Tax Service for potential IPO-related violations.

HYBE maintains the IPO process, follows all legal and regulatory rules, and is cooperating fully with authorities. Bang, too, acknowledged that his extended absence abroad caused confusion and frustration within the company. He also expressed regret that HYBE’s artists and staff might have been affected by the controversy.

The founder and chairman of HYBE Corporation returned to Seoul in August to face a police investigation. Police questioned him twice in September, totaling nearly 14 hours, over accusations. Recently, South Korean authorities have imposed an overseas travel ban on him while the investigation continues.

The investigation continues, with Bang Si-hyuk’s legal team insisting no laws were broken. Authorities are examining whether early investors were deliberately misled to allow insiders to profit unfairly.

Edited by Shreya Jha