National Museum deletes post featuring embroiled HYBE chairman Bang

National Museum of Korea Director Yoo Hong-jun, left, and HYBE Chairman Bang Si-hyuk pose at the National Museum of Korea in central Seoul. This photograph was posted on the museum's social media accounts on Oct. 1, but was deleted the following day after backlash from the public. [HYBE]

 
Following public criticism, the National Museum of Korea deleted a social media post featuring HYBE chairman Bang Si-hyuk, who is under police investigation for alleged violations of the Financial Investment Services and Capital Markets Act.
 
The museum uploaded a post on its official social media accounts last week announcing a memorandum of understanding (MOU) with HYBE to promote Korean cultural heritage and K-culture globally. The post included a photo of museum director Yoo Hong-jun standing next to Bang.
 

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The MOU aimed to strengthen cooperation between the museum’s cultural foundation and the entertainment company best known for managing BTS. However, public reaction was largely negative. Many criticized the museum for featuring Bang, who is currently being investigated by the Seoul Metropolitan Police Agency’s Financial Crime Investigation Unit and has been barred from leaving the country.
 
The museum deleted the post on Oct. 2, just a day after it was uploaded, without offering an explanation.
 
Bang is accused of misleading former HYBE shareholders during stock purchases by claiming that the company had no plans for an initial public offering (IPO). Prosecutors allege that a private equity fund established by a HYBE executive later bought the shareholders’ stakes through a special-purpose company.
 
After HYBE’s IPO, the fund sold the shares, and under a shareholder agreement, 30 percent of the special’s profits were transferred to HYBE’s largest shareholder. Bang reportedly earned about 190 billion won ($135 million) from the deal.
 
Bang’s representatives have denied any wrongdoing, saying all procedures complied with relevant laws and regulations at the time. 


This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY SHIN HYE-YEON [yim.seunghye@joongang.co.kr]