Latest news with #Newsen
Pink Villa
5 days ago
- Business
- Pink Villa
Police chase BTS agency chair Bang Si Hyuk in 400 Billion KRW stock fraud probe, search warrant issued against HYBE
Bang Si Hyuk, the founder and chairman of HYBE (BTS label), is at the center of an intensifying police investigation into alleged fraudulent transactions, and now, the police have taken a critical next step. Police Authorities have officially applied for a search and seizure warrant against HYBE and related parties. According to Newsen, the Seoul Metropolitan Police's Financial Crime Investigation Unit submitted the request to the Securities Crime Joint Investigation Unit of the Seoul Southern District Prosecutors' Office. This is their second attempt after an earlier request was rejected in early May. What Is Bang Si Hyuk's Controversy? Bang Si Huk and his close associates misled investors in 2019 about HYBE's plans to go public. At the time, the company, then known as BigHit Entertainment, reportedly told certain investors there were no immediate IPO (Initial Public Offering) plans, citing unfavorable market conditions. However, around that same time, HYBE had already applied for a designated audit, a formal and significant first step in the process of preparing for an IPO. The case involves a 400 billion KRW (approx. USD 290 million) deal, allegedly tied to misleading investors and hidden profit-sharing. Why is The Police Investigating? Police now believe this discrepancy may not have been accidental. HYBE was quietly laying the groundwork for its blockbuster stock market debut in 2020. Some early investors, taking management's words at face value, sold their shares, private equity firms like Easton PE and Newmain Equity stepped in and bought stakes later that year. The Financial Supervisory Service is also conducting its review, raising the stakes further. If police can prove that HYBE intentionally misled investors during this period, the case could evolve into a significant capital markets scandal. For now, prosecutors are reviewing the warrant request. If approved, it could give investigators access to crucial internal materials from HYBE. But the question remains: Will this affect BTS? The answer is both no and yes. No, because BTS as a group is not involved in the investigation. They have no connection to the alleged fraudulent transactions, and their name hasn't come up in any part of the scandal. The members are completely separate from the business dealings under scrutiny. Yes, in the sense that BTS is closely tied to HYBE and its subsidiary BigHit Music. Public perception of the company may indirectly cast a shadow, simply because of that association. However, it's unlikely to have any lasting impact on the group itself. One can take it mostly as no effect will fall upon BTS.
Pink Villa
22-05-2025
- Entertainment
- Pink Villa
Resident Playbook Success: Go Yoon Jung, Kang You Seok and more head to Bali for 7-day team retreat
As reported by News1, the Resident Playbook cast— Go Yoon Jung, Jung Joon Won, Kang You Seok, Han Ye Ji, and Shin Shi Ah—are gearing up for a 7-day, 8-night work retreat in Bali from May 26 to June 2. Call it a mix of chill and celebration, a well-deserved break to reset, vibe, and soak in the glow of the show's success. According to News1, the lead cast - Go Yoon Jung, Jung Joon Won, Kang You Seok, Han Ye Ji, and Shin Shi Ah will be heading to Bali for a special work retreat. The trip is scheduled from May 26 to June 2, spanning 7 nights and 8 days of rejuvenation and bonding. Well, the time or where they will stay is not revealed by the production team. On May 15, Newsen clarified that while the trip was initially described as a holiday, it's actually being planned as a group retreat. The production team clarified, 'Rather than a reward vacation, it's more of a team trip. Some of the cast and crew members are preparing a workshop-style getaway to celebrate the end of the series. The schedule has not been finalized, and both the location and timing are still being arranged.' They also added, 'Due to scheduling conflicts, not all cast and staff members will be able to participate.' For those unfamiliar with Resident Playbook, it's a heartwarming and often emotional medical drama set at the Jongno branch of Yulje Medical Center. The series focuses on four young doctors who choose to specialize in obstetrics and gynecology—a department often overlooked in a time when South Korea's birth rate continues to decline. But the story goes far beyond just the numbers. It beautifully explores the personal and professional struggles of these residents as they navigate the chaos of hospital life, form deep friendships, and gradually grow into the roles of compassionate and skilled doctors. The series struck a chord with audiences nationwide, with its finale achieving a remarkable 8.1% average rating and peaking at 9.2%, according to Nielsen Korea's nationwide paid household data. It also secured the top spot in its time slot across all TV channels, including terrestrial networks. Notably, Resident Playbook is a spin-off of the much-loved series Hospital Playlist, and it has certainly lived up to the legacy. In the series: Go Youn Jung played Oh In Young Shin Shi Ah portrayed Pyo Nam Gyeong Kang You Seok was Um Jae Han Ye Ji played Kim Sa Bi and Jung Joon Won took on the role of senior resident Koo Do Woon. With the show's success and their stellar performances, this retreat to Bali is not just a break—it's a celebration of their journey, both on-screen and off.
