**South Korean authorities have not filed formal charges against HYBE founder and chairman Bang Si-hyuk as of mid-August 2026, despite an ongoing capital markets investigation into 2019 investor disclosures tied to the company’s IPO.** Police sought arrest warrants in April 2026 alleging roughly 190 billion won in illicit gains from misleading early shareholders, but Seoul prosecutors rejected the requests twice—citing insufficient evidence and ordering further probes—prompting police to review a potential third filing in May without reported follow-through. Bang has remained subject to a travel ban since the prior year while the case proceeds under standard Capital Markets Act procedures. Recent public appearances, including in July 2026, show no escalation to indictment. Traders appear to weigh these procedural hurdles and the lack of charging action over several months as tilting against formal charges materializing before year-end, consistent with historical patterns where Korean financial investigations often stall without prosecutorial approval.