Latest news with #SouthKoreanPolice
News18
7 days ago
- Business
- News18
BTS' Parent Company HYBE's Seoul Office ‘Searched' Over Alleged Unfair Trading
HYBE's chairman, Bang Si Hyuk, has been accused of engaging in fraudulent and unfair trading. The South Korean Police raided the Seoul headquarters of HYBE, the entertainment giant behind the global K-pop sensation BTS, on Thursday, July 24. The raid was part of an ongoing investigation involving the company's chairman, Bang Si Hyuk. As reported earlier, he has been accused of engaging in fraudulent and unfair trading under the Capital Markets Act. The search was confirmed by the Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency, who, in a brief statement to the media, said, 'We are conducting a search and seizure at HYBE's headquarters in Yongsan District." This reportedly came after the South Korean Financial Supervisory Service (FSS) held a meeting of its Securities and Futures Commission (SFC) to discuss the level of disciplinary action against the HYBE chairman. Why Bang Si Hyuk Is Facing Fraud Allegations? Before their IPO in 2020, Bang Si Hyunk and three other top executives deceived minority shareholders by having them sell their HYBE shares to a private equity fund (PEF), which he secretly controlled. Therefore, when the entertainment company eventually filed for an IPO, the chairman and the others benefited from the sales of the shares. Reportedly, Bang Si Hyuk made profits of around 200 billion KRW or $146 million in the process. If found guilty, he could face life imprisonment or a minimum of five years in prison. How Has HYBE Reacted To The Fraud Allegations? HYBE has denied all the allegations against its chairman. In a statement released earlier this month, the South Korean company shared, 'We will dutifully clarify that the listing at the time was carried out in compliance with all relevant laws and regulations." They also added that they will 'actively co-operate" during the investigations by the authorities. 'We will take the necessary time to thoroughly demonstrate that the IPO was carried out in full compliance with laws and regulations," HYBE mentioned. Notably, Bang Si Hyuk, also known as Hitman Bang, is the biggest shareholder in HYBE. He is the man being credited for the widespread popularity of BTS, who helped the septet transform from a small K-pop act to one of the biggest names in the global music industry. The investigation against Bang comes at a time when BTS, after the completion of their respective mandatory military service, reunited as a full unit after three years. They not only made a comeback to the music scene with their first-ever live album, Permission to Dance On Stage – Live, but also announced a brand-new album, which is slated to be released between March and May next year. After the release, the septet, comprising RM, Jin, Suga, J-Hope, Jimin, V and Jungkook, will also embark on a world tour. First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Al Arabiya
26-06-2025
- Al Arabiya
Two Chinese men arrested in South Korea filming US carrier
Two Chinese nationals have been arrested for illegally flying drones to film a South Korean naval base and a visiting US aircraft carrier docked in the port city of Busan, local police said Thursday. South Korea finds itself in the middle of a growing superpower standoff between the United States, its traditional security guarantor, and China, its largest trade partner but also a key ally of North Korea. The two men - identified as international students in Busan - were arrested on Wednesday, charged with injuring the military interests of South Korea and violating the Protection of Military Bases and Installations Act, according to the Busan Metropolitan Police. It is the first time foreign nationals have been detained on such charges, they said. 'Two Chinese individuals were arrested yesterday for illegally filming a naval base and a US aircraft carrier,' an official from the Busan police told AFP. 'A third Chinese individual is also currently being investigated without detention,' he added. South Korean police believe the detained suspects -- one in his 40s and the other in his 30s -- used drones and mobile phones to illegally film the Republic of Korea Fleet Command in Busan, which is responsible for and oversees the South Korean navy's operation and training. They are also accused of illicitly filming the USS Theodore Roosevelt, a US aircraft carrier docked in the port city for joint operations, and of conducting unauthorized filming on nine occasions between March 2023 and June 2024. Their most recent activity took place on June 25, 2024, when then-president Yoon Suk Yeol visited the aircraft carrier and met with South Korean and US troops, according to Busan police. The illegally obtained materials reportedly included 172 photos and 22 video files, some of which were sahred without authorization on social media platforms including TikTok. Busan police also said the suspects used drones manufactured by a Chinese company. The model in question reportedly requires users to register through the company's app before use, during which all data is believed to be transmitted to servers located in China. Last month, South Korea fined Chinese e-commerce giant Temu nearly $1 million for illegally transferring Korean users' personal information to China and other countries.
South China Morning Post
16-06-2025
- South China Morning Post
In the 1980s, South Korea was a meth exporter. Now, its drug labs are back
Drug manufacturing crimes, which had largely disappeared in South Korea since the government's war on drugs in the 1990s, are making a troubling return. As authorities ramp up efforts to block drug smuggling across borders, criminals are increasingly turning to producing narcotics domestically using imported chemical precursors. In 2023, 23,022 people were caught for drug-related offences in South Korea, the Supreme Prosecutors' Office said on Sunday. While this was a 16.6 per cent decrease from the record high of 27,611 in 2022, the figure still represented a nearly 20-fold jump from the 1,190 cases reported in 1985, when drug crime statistics were first recorded. The number of drug manufacturing offences, excluding cannabis-related cases, is also on the rise. From zero in 2005, the figure climbed to four in 2010, nine in 2020, and six in 2023, reaching 19 in 2024, the highest since type-specific statistics began in 2000. In the 1980s, South Korea faced international embarrassment as a methamphetamine-exporting country. But tougher crackdowns eventually dismantled domestic labs. South Korean police officers cross a road in Seoul earlier this month. Photo: EPA-EFE Now, with border seizures intensifying – over 1,170kg (2,579lbs) of drugs were confiscated last year – there is a growing trend of smuggling in precursor chemicals to produce narcotics within South Korea.
Daily Mirror
15-05-2025
- Sport
- Daily Mirror
Spurs captain Son 'files blackmail complaint' as police launch investigation
Son Heung-min will lead Tottenham Hotspur out in the Europa League final, but the attacker is also dealing with a police investigation after he alleged a woman had attempted to blackmailed him Tottenham skipper Son Heung-min has reportedly submitted a complaint to South Korean police over a woman he alleges blackmailed him with a false pregnancy claim. Son has spent a decade at Spurs and was named captain in the wake of Harry Kane's move to Bayern Munich in 2023. This season he has captained them to the final of the Europa League, though they have plummeted down to 17th in the Premier League. The 32-year-old does not have a wife or any known children. He has previously hinted he did not want to have kids until he retired, telling The Guardian in 2019: "I want to make sure that while I play at the top level, football can be number one." But according to the Korean Times, Son submitted a complaint to South Korean Police alleging a woman in her 20s attempted to blackmail him by falsely claiming she was pregnant with his child. The Gangnan Police Station in Seoul confirmed on Wednesday that it had 'booked' the woman, along with an alleged accomplice in his 40s on charges of blackmail. They revealed Son submitted his complaint on May 7 and subsequently began an investigation. According to Son's legal team, the woman falsely claimed in June 2024 that she was pregnant and demanded large sums of money in return for not going public. It is claimed that investigators believe the suspects continued to seek additional payments totalling tens of millions of won even recently. One British pound is worth roughly 1,850 South Korean won. Police said they are questioning those involved to determine the exact circumstances of the case. Son meanwhile is attempting to put his full focus into the upcoming final. The final will take place in Bilbao next Wednesday, with Spurs looking to win their first trophy since 2008. "I don't really listen to the outside noise, I know my quality, I know my ability," Son told TNT Sports. "I've been here 10 years, very consistent, and people can say what they want, but they don't see how I work, how I grow up, and I still think that I have a quality, that I have no doubt. "I'm concentrating on my job, I'm concentrating on my training session, I'm concentrating on my game. I care about my team-mates and my staff, that they'll be successful because they work hard. "The 10 years have been fantastic [but] obviously missing something. When you're thinking about the puzzle, [it is] just missing one piece that makes the perfect puzzle. So I can make it this year, next Wednesday. "The boys want to win something for me, I can see that, I feel it, and I really, really appreciate that and also the fans. But for me, I think it's not all about me, I want to do it for them. I want to do it for the team, the staff and the fans."
