South Korean prosecutors have twice rejected police requests for an arrest warrant against HYBE chairman Bang Si-hyuk in April and May 2026, citing insufficient evidence in the investigation into alleged investor fraud and misleading statements ahead of the company's 2020 IPO. The probe, which included 2025 raids on HYBE and the Korea Exchange, remains in a supplementary phase without formal charges or indictment as of mid-August, with Bang subject to a travel ban but denying all allegations. These procedural setbacks and evidentiary requirements typical of complex capital markets cases underpin trader consensus favoring no charges by year-end, consistent with historical patterns where supplementary inquiries extend timelines without immediate escalation. No major new official actions or court developments have shifted the status in recent months.