Latest news with #Yongsan
Malay Mail
24-07-2025
- Business
- Malay Mail
BTS agency HYBE raided by S. Korean police over founder's alleged RM600m IPO fraud
SEOUL, July 24 — HYBE, the agency behind K-pop superstars BTS, was raided by police today in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said. 'We are conducting a search and seizure at HYBE's headquarters in Yongsan District,' the Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency said in a brief statement. Bang, the mastermind behind BTS, is under investigation over allegations that he misled early investors to reap illicit profits from the company's 2020 initial public offering. He is accused of gaining around 200 billion won (approximately RM616,000) through the process, according to local reports. HYBE has denied Bang committed any wrongdoing. 'We will dutifully clarify that the listing at the time was carried out in compliance with all relevant laws and regulations,' the company said in a statement in early July, pledging 'active cooperation' with authorities to get to the bottom of the case. The investigation comes as all seven BTS members complete their mandatory military service and prepare for a comeback next year. HYBE announced earlier this month that a new album and world tour were scheduled for 2026. BTS, known for championing progressive causes, holds the record as the most-streamed group on Spotify and became the first K-pop act to top both the Billboard 200 and Billboard Artist 100 charts in the US. Before their military service, BTS generated more than 5.5 trillion won (RM16.9 billion) in yearly economic impact, according to the Korea Culture and Tourism Institute. That accounts for roughly 0.2 per cent of South Korea's total GDP, according to official data. — AFP
News.com.au
24-07-2025
- Business
- News.com.au
BTS agency HYBE raided over alleged fraud trading
HYBE, the agency behind K-pop superstars BTS, was raided by police on Thursday in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said. "We are conducting a search and seizure at HYBE's headquarters in Yongsan District," Seoul police said in a brief statement. Bang, the mastermind behind BTS, is under investigation over allegations that he misled early investors to reap illicit profits from the company's 2020 initial public offering. He is accused of gaining around 200 billion won (US$146 million) through the process, according to local reports. HYBE has denied Bang committed any wrongdoing. "We will dutifully clarify that the listing at the time was carried out in compliance with all relevant laws and regulations," the company said in early July, pledging "active cooperation" with authorities to get to the bottom of the case. Bang allegedly misled HYBE's early investors, who held pre-IPO shares, by telling them in 2019 he had no plans to take the company public. He then allegedly encouraged them to sell their shares to private equity funds when in fact IPO plan was in the making. HYBE went public in 2020, after the shareholders sold their stakes. The 52-year-old is accused of secretly striking a deal with the private equity funds to receive a portion of the profits they made from selling shares after the IPO. - 2026 comeback - The investigation comes as all seven BTS members complete their mandatory military service and prepare for a comeback next year. HYBE announced this month that a new album and world tour were scheduled for 2026. BTS, known for championing progressive causes, holds the record as the most-streamed group on Spotify and became the first K-pop act to top both the Billboard 200 and Billboard Artist 100 charts in the United States. Before their military service, BTS generated more than 5.5 trillion won ($4 billion) in yearly economic impact, according to the Korea Culture and Tourism Institute. That accounts for roughly 0.2 percent of South Korea's total GDP, according to official data. There had been debate over whether BTS should be granted exemptions from military service -- sometimes granted to Olympic medallists and classical artists who win top international awards -- but pop stars do not qualify under South Korean laws. With the lack of public consensus on the matter, the members enlisted individually, beginning in late 2022.
Straits Times
29-06-2025
- Sport
- Straits Times
S. Korea's Yongsan clinch NBA Rising Stars Invitational boys' title; Kyoto Seika win girls' crown
SINGAPORE – Heading into the final of the NBA Rising Stars Invitational at the Kallang Tennis Hub on June 29, Yongsan High School had not expected to beat their taller Chinese opponents Tsinghua University High School. But the South Korean side devised a strategy to overcome the height disadvantage and won 97-48 in front of the 1,100-capacity crowd to take home the title. Through an interpreter, tournament Most Valuable Player, 1.94m power forward Kim Min-gi said of their win: 'I'm incredibly happy, this is going to be a memory that's just going to be unforgettable for the rest of my life. 'The night before, we had a look at the Chinese team, and saw that they were really tall. So we built a game plan based off that to make sure that we were going to tackle them well during the game. 'And also the most important thing was to have that fight, because we had nothing to lose.' Yongsan had beaten Thailand's Assumption College Thonburi 84-28 and the Philippines' National University Nazareth School 84-79 in the round-robin group stage, before overcoming Japan's Fukuoka University Ohori Senior High School 75-65 in the semi-finals. Despite their height disadvantage in the final – Tsinghua's players had looked about half a head taller than Yongsan's – the South Korean side flew out of the blocks and finished the first quarter 30-14. Making use of their agility and precise shooting, Yongsan scored 12 three-pointers out of 21 attempts by half-time. The Chinese had looked sluggish and were not able to capture rebounds, allowing easy turnovers for their opponents. A change of tactics in the third (16-9) and fourth (19-15) periods saw Yongsan collect fewer points but they managed to see the game out 97-48. Kim, 17, who scored a match-high 25 points, added: 'This means a lot to me personally, and I've never expected something like this, and this was for sure to be great groundwork to my career in the future. 'We don't have a lot of NBA-related tournaments in Asia, and to win the MVP on top of that, I've nothing but good things to say about this tournament.' Yongsan coach Lee Sae-bum said: 'I thought it was important that this was going to be a great platform for the kids to strive for a challenge, to really go for those victories and learn a lot.' Kyoto Seika Gakuen High School's Ngalula Liya Mukuna scored a match high 30 points to help her team win the inaugural title. ST PHOTO: GIN TAY In the girls' final, Japan's Kyoto Seika Gakuen Senior High School thrashed South Korea's Onyang Girls' High School 109-40. Their dominance was prevalent throughout as Congolese centre Ngalula Liya Mukuna scored a match-high 30 points and captured 27 rebounds. She said via an interpreter: 'Early on, we were nervous as a team, but also we have strong hearts. 'We grew in confidence as the game wore on and for us, it's always about rebounding and hustling the loose ball. 'I want to keep improving, especially on my drives and shooting free throws, so I will keep working hard.' Her coach Tsunayoshi Yamamoto added: 'It was very humbling and this is actually our first time as Kyoto Seika basketball team to play outside of Japan and be involved in this kind of tournament. 'Looking at the other teams, especially Korea, China, Australia. They're tall and physical, so we weren't confident at all early on, but one game at a time, one win at a time, we raised our confidence.' The NBA Rising Stars Invitational is the league's first regional high school tournament, with the inaugural edition featuring 12 Under-18 teams in each gender category from 11 countries across Asia-Pacific. Singapore was represented by Anglo-Chinese Junior College and United World College Dover in the boys' category, but both did not make it out of the group stage. Hwa Chong Institution's girls had beaten Malaysia's Hin Hua High School 69-63 in their opening game but also did not advance to the knockout rounds. Melvyn Teoh is a sports journalist at The Straits Times. Join ST's Telegram channel and get the latest breaking news delivered to you.
South China Morning Post
20-06-2025
- Automotive
- South China Morning Post
Family of South Korean lawyer killed in Tesla crash sues US carmaker, local subsidiary
The family of a lawyer who died in a 2020 Tesla Model X crash in Seoul has filed a lawsuit against Tesla's US headquarters and its South Korean subsidiary, alleging sudden unintended acceleration and vehicle defects. Lawyer Ha Jong-seon, representing the victim's family, held a press conference on Thursday and announced that a civil complaint had been filed with the Seoul Central District Court a day earlier. The case centres on a fatal accident that occurred on December 9, 2020, when a Tesla Model X crashed into the wall of an underground parking garage in Yongsan district, Seoul. At the time, the vehicle was being driven by a chauffeur, identified as Choi, while lawyer Yoon, a passenger in the car, was killed in the crash and ensuing fire. The family said that telematics data retrieved from the vehicle raises serious questions about the cause of the accident. According to the data, the accelerator pedal was allegedly pressed at 100 per cent displacement for six seconds, yet the vehicle's speed increased by only 39km/h (24mph) – from 55.84 to 94.95km/h – a discrepancy they argue indicates the driver may have been pressing the brakes instead. 'Normally, we would rely on Event Data Recorder (EDR) data in such cases, but the fire destroyed it on impact,' Ha said. 'However, this Tesla vehicle transmitted operational data via telematics to the company's server, allowing us to review the vehicle's speed and pedal input just before the crash.' 00:58 Chinese driver survives after her Tesla is sent flying, landing on parked cars Chinese driver survives after her Tesla is sent flying, landing on parked cars Ha added that the Tesla Model X in question is capable of accelerating from zero to 100km/h in 4.6 seconds. 'If the accelerator had really been fully pressed for six seconds, the car should have gone much faster. This inconsistency strongly suggests the driver was braking.'
Al Bawaba
13-06-2025
- Entertainment
- Al Bawaba
BTS's Jungkook faces home break-in attempt just hours after military discharge
ALBAWABA - BTS star Jungkook targeted in break-in after military return. In a troubling event, the police detained a woman who attempted to break into the home of BTS singer Jungkook in Yongsan-gu, Seoul, on the same day that he returned from his military service. This incident caused significant anxiety among fans of K-pop. At approximately 11:20 p.m. Korean Standard Time (KST) on June 11, a neighbor observed a woman tapping on the electronic license plate that was attached to Jungkook's door. This led to the incident being reported on Saturday, June 12. (L-R) Jungkook and Jimin of K-pop supergroup BTS (Photo by ANTHONY WALLACE / AFP) According to a statement released by the Yongsan Police Station, the woman, who is a Chinese national that is in her thirties, was taken into custody without delay for the crime of attempted trespassing, and further investigation is still ongoing. The timing of the event, which occurred on the same day that Jungkook was discharged from the military, is another factor that contributes to the unsettling nature of the situation. He had been a member of the 5th Army Artillery Brigade since December 2023, and he was released with the rank of sergeant shortly after his service ended. The incident surprised the public and sparked fears for his safety, especially considering that it is unknown whether he was at home at the time. Even though the K-pop star's followers were celebrating his return to civilian life, the public was shocked by the incident. The police are continuing their inquiries into the woman's reasons for attempting to break into the building. The investigation is also looking into whether or not she had attempted to get in touch with Jungkook in the past or had been following him in a suspicious manner. Authorities have not confirmed if this was part of a larger scheme or an isolated act. Fans expressed their anxiety for Jungkook and demanded that entertainment organizations take better security measures to protect artists, given the frequent occurrences of break-ins at celebrity houses in South Korea. After the news surfaced, a wave of concern and sympathy raced across social media, with fans expressing their concern and sympathy for Jungkook.
