Police investigating HYBE Chair Bang Si-hyuk on suspicion of "fraudulent unfair trading" are moving to close the case.
At a regular press briefing on the 24th, Park Jung-bo, the Seoul Metropolitan Police Commissioner, said of the investigation into Chair Bang, "I was briefed that it has been wrapped up." On whether they would reapply for an arrest warrant, he said, "We should be able to let you know soon."
Police have been investigating Chair Bang on suspicion of deceiving investors ahead of HYBE's listing and taking about 260 billion won in illicit gains. They previously sought an arrest warrant twice, but prosecutors rejected both requests, saying supplementary investigation was needed.
On various corruption allegations involving independent lawmaker Kim Byung-kee that have continued for 11 months, Commissioner Park repeated the same position, saying, "Most of the necessary investigation has been completed, and we are proceeding with the procedures needed for closure."
Regarding the Korea Football Association's "alleged sexual hospitality for referees," Commissioner Park said, "It has been clearly confirmed that the statute of limitations has expired, so it will be difficult to investigate," adding, "We are looking into whether there is anything additional that needs to be checked."
Commissioner Park also said of the investigation into National Agricultural Cooperative Federation President Kang Ho-dong over alleged embezzlement and bribery, "There were additional complaints and investigation requests, and merging them caused some delay," adding, "I think we will reach a conclusion soon."