'Father of BTS' in Court? Bang Si-hyuk Summoned Over SM Entertainment Stock Controversy

Bang Si-hyuk, chairman of HYBE, has been summoned to appear in court as a witness in the stock manipulation trial involving Kim Beom-soo, chairman of Kakao’s Corporate Restructuring Committee. Kim faces charges tied to alleged interference with HYBE’s attempt to acquire SM Entertainment.

According to an exclusive report by Maeil Business Newspaper on May 13, the Seoul Southern District Court’s Criminal Agreement Division 15 (Judge Yang Hwan-seung) officially selected Bang as a witness on May 8 and has issued a subpoena. Unless special circumstances arise, Bang is expected to appear for questioning in court on June 20.

Key Meeting in Focus: What Did Bang Ask of Kim?

Prosecutors are focusing on a meeting held on February 14, 2023, between Bang and Kim during a critical point in the SM Entertainment acquisition saga. After negotiations between HYBE and Kakao reportedly fell through, Bang allegedly met Kim and made a direct appeal:

“HYBE wants to acquire SM Entertainment—please help us.”

Sources say Kakao gave no clear response at the time. Prosecutors believe Bang explicitly asked Kim not to pursue SM’s management rights, but Kim rejected the request.

In a previous hearing, prosecutors explained the significance of the meeting:

“Bang Si-hyuk is the HYBE chairman who submitted a formal complaint to the Financial Supervisory Service, accusing Kakao of blocking a public tender offer by purchasing a large volume of SM shares. The February 14 meeting is a critical element of this case, which is why Bang has been called as a witness.”

What Are the Charges Against Kakao’s Kim Beom-soo?

Kim is accused of colluding with private equity firm One Asia Partners to manipulate SM Entertainment’s stock price during the 2023 acquisition battle. Prosecutors allege that Kim acted with the intent to block HYBE’s ₩120,000-per-share tender offer by artificially inflating the market price.

This trial is part of a broader legal investigation into market manipulation and anticompetitive practices during one of K-pop’s most dramatic corporate battles—HYBE vs. Kakao over control of SM Entertainment.

Bang’s Recent Public Appearances

Despite the legal developments, Bang has maintained a public presence. He attended a shareholders’ meeting in Seoul earlier this year and has been spotted at concerts for HYBE artists, including BTS’s J-Hope, LESSERAFIM, and TOMORROW X TOGETHER (TXT).

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