Fair Trade Commission Launches Investigation Against HYBE For Falsifying Important Documents

Quote from thebadguy

[Exclusive] Fair Trade Commission Conducts On-Site Investigation of HYBE for Omitted and False Information in Conglomerate Designation Data

The Fair Trade Commission (FTC) has begun an on-site investigation into HYBE, the first entertainment company to be designated as a conglomerate.

According to industry sources on the 24th, the FTC has dispatched investigators to HYBE's headquarters for an on-site investigation. HYBE is under investigation on suspicion of submitting false or omitted information in the 'data for designation of conglomerates' submitted to the FTC.

Last May, the FTC newly designated HYBE as a conglomerate. Consequently, HYBE, a listed company, and its subsidiaries controlled by HYBE must disclose shareholder status and major management information to the capital market.

Since HYBE is now designated a conglomerate, regulations on personal gains for the founder, Chairman Bang Si-hyuk, have also been applied. Chairman Bang, who holds a 31.8% stake in HYBE and is the largest shareholder, was designated as the 'same person (head of the group)' with this conglomerate designation. The FTC is also monitoring Chairman Bang for potential personal gains. This is to prevent favoritism towards subsidiaries owned by Chairman Bang's relatives.

An FTC official stated, "We cannot confirm whether an on-site investigation is taking place," but added, "If any legal violations are found, we will respond strictly."

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'The FTC is also monitoring Chairman Bang for potential personal gains. This is to prevent favoritism towards subsidiaries owned by Chairman Bang's relatives.'

So it's starting .

Ps: Armageddon just came out on my screen. what a timing 😏.

Wait, are we talking about US FTC, the one that also sued Microsoft and shit, or is this the Korean version of it?

Quote from thebadguy

Korean FTC

This is so confusing because on their website they call themselves KFTC so I was hoping it was the US one on the way to cause mess. Still seated tho

First ever entertainment company which is classified as a conglomerate! And they are not considered as a Big 3.

interesting but what the hell is

"Conglomerate Designation Data"

Unfortunately, they will find nothing.

To reddit!!!

They investigate Kakao for something different every 3 months, and nothing ever happens.

Check out Pledis for sure TWS is flopping now.

not single clue about the article. but patiently waiting.

Quote from Wateris

Unfortunately, they will find nothing.

Quote from K-PL

They investigate Kakao for something different every 3 months, and nothing ever happens.

Korean law couldn't get yge when they were straight up publicly burning their documents during burning sun scandal and tokkis think this will do anything to hybe, newjeans fans are so washed is unbelievable.

Quote from randkpopstan

Korean law couldn't get yge when they were straight up publicly burning their documents during burning sun scandal and tokkis think this will do anything to hybe, newjeans fans are so washed is unbelievable.

Burning Sun involved government officials and relatives of chaebols. HYBE has otakus and people from the video game industry. So you HYBE stans might be in for a rude awakening.

Idk what's happening, but I'm here for the mess

Quote from Owned_by_Irene

Burning Sun involved government officials and relatives of chaebols. HYBE has otakus and people from the video game industry. So you HYBE stans might be in for a rude awakening.

You must be unfamiliar with my game because there is nobody that attacks hybe more than I do in this forum...

And hybe will go unscathed, you guys are delusional, those corporations are too big to fail or for the government to actually to something substantial against them.

Quote from onwards

This is so confusing because on their website they call themselves KFTC so I was hoping it was the US one on the way to cause mess. Still seated tho

US ftc will only act if someone had a case against HYBE America not the one in Korea

Quote from randkpopstan

You must be unfamiliar with my game because there is nobody that attacks hybe more than I do in this forum...

And hybe will go unscathed, you guys are delusional, those corporations are too big to fail or for the government to actually to something substantial against them.

Hybe isn't too big to fail the government can wreck them if they wanted. HYBE is NOT Samsung or Hyundai etc those are corporations too big to fail because they produce literally EVERYTHING

Quote from Wateris

Unfortunately, they will find nothing.

If you think your signature will invoke dread and discomfort in readers at the vastness of the universe every time they see it, then yes it does

Quote from Owned_by_Irene

Burning Sun involved government officials and relatives of chaebols. HYBE has otakus and people from the video game industry. So you HYBE stans might be in for a rude awakening.

I thought this was a Kpop forum, but people here seem more obsessed by hybe and miss min than actual Kpop

Gives jobless vibes

Quote from thebadguy

miss min >>>>>>>>>>>>> kpop 😌

Quote from kazuyakamenashi

Hybe isn't too big to fail the government can wreck them if they wanted. HYBE is NOT Samsung or Hyundai etc those are corporations too big to fail because they produce literally EVERYTHING

Agreed they’re not on the level of Samsung. Hybe is too big to fail in the sense that they would have to do something super major against the government for them to be wrecked. Otherwise it’s just a slap on the wrist.

If this were a Chinese company on the other hand, China don’t give a shit and would totally wreck 😂

Quote from thebadguy

People are really overestimating the importance of hybe/BTS for korean economy or government. Even if bts disbands tommorow korean economy and kpop industry would be just fine.

THIS. Yes HYBE gets the hype because of how fast they got here same with BTS. But in reality both are a drop in the Ocean that is Korea's economy and culture, lifestyle etc. they don't mean as much as fans believe it is. Hybe could go bankrupt today and BTS could retire and the world would keep turning south Korea will still be a leading strong economy nobody here will lose any sleep over some kpop. And kpop in general will still be popular and thriving. BTS and hybe is not that cup of water in the desert for the starving guy you are thinking about neither is THAT important

Quote from randkpopstan

Korean law couldn't get yge when they were straight up publicly burning their documents during burning sun scandal and tokkis think this will do anything to hybe, newjeans fans are so washed is unbelievable.

some high ranking politicien relatives where linked to that scandale. so they got major public backlash but not much legally.

in bangs case, it's pretty different. because it seems like mhj got the political support in this battle as we saw with her extraordinary and total victory with the injunction.

(which was only the beginning of hybe taking major Ls in this battle)

she got something on him and must have made a good case to the politics so i won't be surprised if bang gets cought and even comdamned. just like with that sajaegi investigation.

my suspicion is that maybe he was also linked with the burning sun scandal to take yg down. as we know he hates competition so much and try to dominate the market entirely.

but by doing so, he did tarnish some chaebols relatives, so now they're probably just taking revenge.

mhj also wants revenge, so does lsm, so does sm and so does kakao. hybe really made many many ennemies.

sayonara hybe and go burn in hell .

Quote from kazuyakamenashi

US ftc will only act if someone had a case against HYBE America not the one in Korea

Hybe america is the most shady red flag in that whole compagny. Hopefully it gets investigated too .

Quote from selfmate

interesting but what the hell is

"Conglomerate Designation Data"

Very good question

Quote from thebadguy

People are really overestimating the importance of hybe/BTS for korean economy or government. Even if bts disbands tommorow korean economy and kpop industry would be just fine.

They're not ready for this truth but keep preaching. You're not wrong.

Quote from YamaChwan

To reddit!!!

Hi,

Nothing burger according to those folks.

But what do you expect? Instead, they are absolutely going nuts for the fact that Ador staff and production teams were wearing MHJ core, calling them a cult etc.

It was never HYBE's intent to use ARMY to flip Korean ARMY, it was meant to flip the international Army. They'll even defend Scooter for fcks sake. It's QANON level over there.

-knysom

Quote from knysom

Hi,

Nothing burger according to those folks.

But what do you expect? Instead, they are absolutely going nuts for the fact that Ador staff and production teams were wearing MHJ core, calling them a cult etc.

It was never HYBE's intent to use ARMY to flip Korean ARMY, it was meant to flip the international Army. They'll even defend Scooter for fcks sake. It's QANON level over there.

-knysom

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I'm legitimately curious what it would take for them to actually turn on Hybe outside of some violently offensive action towards BTS themselves.

Quote from YamaChwan

I'm legitimately curious what it would take for them to actually turn on Hybe outside of some violently offensive action towards BTS themselves.

Hi,

Korean Army is already on their ass about that. I really want to change the narrative - Korean Army is very different from International Army. It's a really strange dynamic. They are fans of the same group, but its like two different worlds. They have bad apples over there for sure (which fandom doesn't right?) but wow, having gone to SK a few times due to work and being around it, the difference in both has been stark. It's like a family reunion - everyone's cool, but people leave Cousin Scooter alone cause he's a bit weird.

-knysom