South Korean prosecutors have raided the headquarters of HYBE, the entertainment company managing global K-pop acts such as BTS and Seventeen, as part of an insider trading investigation. The Seoul Southern District Prosecutors’ Office is investigating allegations that a former HYBE executive used undisclosed information to gain illicit profits worth several billion won. Additionally, HYBE chairman Bang Si-hyuk is under investigation for alleged fraudulent trading during the company’s pre-IPO phase, including accusations of misleading existing investors about the company’s listing plans while secretly preparing for the IPO. Prosecutors have also sought and obtained search warrants related to these allegations. The investigation has intensified scrutiny on HYBE amid BTS's upcoming comeback. HYBE has cooperated with authorities during the probe. Following the news, HYBE’s shares fell, and renewed attention has been drawn to the relatively small number of shares allocated to BTS members during the IPO. Separately, prosecutors have seized USB devices from the office of Kim Keon-hee’s close associate linked to the company Kobana Contents, amid suspicions of preferential treatment in construction contracts.