BTS’s agency raided over fraud allegations: What does it mean for the 2026 comeback?

The Seoul headquarters of HYBE, the powerhouse behind BTS, was raided by police on Thursday as part of an investigation into alleged fraudulent trading linked to the company’s founder, Bang Si-hyuk.

"We are conducting a search and seizure at HYBE's headquarters in Yongsan District," Seoul police confirmed in a brief statement.

At the centre of the probe is Bang, the 52-year-old music mogul often credited as the mastermind behind BTS’s global success. He is being investigated for allegedly misleading early investors in the run-up to HYBE’s 2020 initial public offering (IPO)—a move that reportedly helped him secure millions, according to local media reports. However, according to the official complaint filed by Korea’s Securities and Futures Commission (SFC), Chairman Bang Si-Hyuk is alleged to have given the impression that IPO plans may be delayed. The formal allegation does not state that he misled investors to secure personal profits, nor does it use the term “illicit profits.”

The investigation is ongoing, and no conclusion has been reached.

HYBE has denied any wrongdoing on Bang’s part. "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 earlier this month, adding that it would offer “active cooperation” with the investigation. The statement read, "We regret any concern caused by the recent reports related to our IPO process. HYBE is fully cooperating with the local authorities, including the financial regulators and the police, by submitting relevant materials and providing detailed explanations as part of the fact-finding efforts. We will take the necessary time to thoroughly demonstrate that the IPO was carried out in full compliance with laws and regulations.”

The police raid comes at a time of transition for the K-pop giant. All seven BTS members are currently enlisted in South Korea’s mandatory military service, with a long-anticipated group comeback set for 2025. HYBE recently announced plans for a new album and world tour in 2026.

What happens to BTS comeback?

There's much speculation, on whether the band will have to delay their comeback album and tours. However, nothing is confirmed yet.

Despite the legal turbulence, BTS, who reunited in June after miltiary service, remains one of the most powerful cultural forces out of South Korea. The group became the first K-pop act to top both the Billboard 200 and Billboard Artist 100 charts in the U.S., and remains the most-streamed group in Spotify history. Prior to their military hiatus, BTS was estimated to generate more than 5.5 trillion won (US$4 billion) in annual economic impact—about 0.2 percent of South Korea’s total GDP, according to the Korea Culture and Tourism Institute.

The group’s enlistment had sparked nationwide debate over whether BTS should be granted special exemptions from military duty, a privilege sometimes extended to Olympic medallists and classical musicians. Under current South Korean law, however, pop stars do not qualify.

(Inputs from AFP)