In South Korea, prosecutors rejected the police's request to arrest Bang Si-hyuk, the founder of the major K-pop company HYBE and creator of the BTS group.
It was reported that prosecutors stated there were insufficient grounds for an arrest at the current stage and returned the case for further investigation.
Police accuse Bang Si-hyuk of misleading investors regarding plans to list HYBE on the stock exchange in 2019. It is alleged that through this action, he may have earned a substantial amount — approximately 200 billion won (136 million dollars). Bang, however, denies all allegations.
As part of the case, searches were conducted at the HYBE office, some assets were frozen, and a travel ban was imposed on him.
The situation has sparked widespread discussion as it coincides with the period when the BTS group's world tour has resumed.
