Entertainment x BTS x Politics x EXPOSED

[eles820]

They deserve atomic annihilation for being this cringy

they did a similar things when they were rookie , the show was Rookie King, that was like 12 years ago or so , but it was cringe the same back then

 

[boti]

They deserve atomic annihilation for being this cringy

😍

 

[boti]

Postează în subiect 'Irene bae'

Duminică la 22:04

Apropos "contracts", I was answering to a question and I am going to post in here the answer, as so much goes around this subject. contracts. Renewal. Advantage. Responsibility. Running away from responsibility (new Jeans).
Some people jump into signing contracts, because of their desperation and obsession with "fame". Being "famous", having people screaming your name and those people don't deserve to be on the stage. You don't go on a stage, so that some obsessed fans scream your name, because they are in puberty and lack responsibility, parenting, and some acknowledge of the reality. Of...

• boti

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[boti]

If he would have been a gay pedo, they would have kneeled before him and sucked his dick

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[boti]

She is obese. A few minutes ago I posted in Hyunjin's thread, talking about "anxiety medicine"...It's drugs. Anxiety for what? This propaganda to put stupid things in people's mind, making them think, that we can't handle life without drugs. Just try it and go through. Babying adults is harming.

 

[eles820]

She is obese. A few minutes ago I posted in Hyunjin's thread, talking about "anxiety medicine"...It's drugs. Anxiety for what? This propaganda to put stupid things in people's mind, making them think, that we can't handle life without drugs. Just try it and go through. Babying adults is harming.

Medication makes you gain weights

 

[boti]

Medication makes you gain weights

Sure. The point was, that IF she's taking anxiety meds, it's drug dependency. They are making you high and not solving the problem. A pill is not solving the problem. I see it around me on a daily basis. People are being raised to fail, to always claimed that they are "stressed", they have "anxiety", so the doc will put them on meds and they are like robots controlled by the master.
people taking psych meds are becoming easy to control, aren't a treat to opposing resistance to orders, don't use all the parts of their brain, and only care about taking their drugs. The entire approach of life changes, you become a robot dependent on pills in order to exist, because you believed some bullshit about "anxiety".

 

[boti]

When I did the big financial analysis a few years ago, i already pointed to the issue of them and netmarble (cousin) having major chinese investors, long before the IPO

 

[CarinaAnne]

Medication makes you gain weights

Sure. The point was, that IF she's taking anxiety meds, it's drug dependency. They are making you high and not solving the problem. A pill is not solving the problem. I see it around me on a daily basis. People are being raised to fail, to always claimed that they are "stressed", they have "anxiety", so the doc will put them on meds and they are like robots controlled by the master.
people taking psych meds are becoming easy to control, aren't a treat to opposing resistance to orders, don't use all the parts of their brain, and only care about taking their drugs. The entire approach of life changes, you become a robot dependent on pills in order to exist, because you believed some bullshit about "anxiety".

Weight gains in thyroid and fibroid too, so it's possible that she may have thyroid or fibroid and it's quite common for women to have thyroid or fibroids. Thyroid reversal can happen quickly but it takes 2 or 3 years for fibroid to heal.

 

[boti]

Weight gains in thyroid and fibroid too, so it's possible that she may have thyroid or fibroid and it's quite common for women to have thyroid or fibroids. Thyroid reversal can happen quickly but it takes 2 or 3 years for fibroid to heal.

Yes, but hypothyroidism usually looks differently.
What bothers me is the propaganda of either promoting unhealthy body sizes, and/or the victimizing agenda. on top of everything it's all the lies they tell to do fans. According to the articles I read, she had a neck injury, then used corticoids and then got cushing.
I just wonder how much corticoids she took for a neck injury?? Let's not dismiss the fact, that pain killers (neck injury) , or corticoids get you high. You feel "good"..Maybe she just didn't took the dosage she really needed to, in order to get high?
It's like Selena Gomez with her liver donated by her friend and her disease, but then getting high continuously and blaming the weight gain on her disease...disgusting.

 

[CarinaAnne]

Yes, but hypothyroidism usually looks differently.
What bothers me is the propaganda of either promoting unhealthy body sizes, and/or the victimizing agenda. on top of everything it's all the lies they tell to do fans. According to the articles I read, she had a neck injury, then used corticoids and then got cushing.
I just wonder how much corticoids she took for a neck injury?? Let's not dismiss the fact, that pain killers (neck injury) , or corticoids get you high. You feel "good"..Maybe she just didn't took the dosage she really needed to, in order to get high?
It's like Selena Gomez with her liver donated by her friend and her disease, but then getting high continuously and blaming the weight gain on her disease...disgusting.

I agree with your points but symptoms of thyroid are different from person to person. There are two types of thyroid, one in which weight gains and the other in which weight reduces. In the environment in which female artists have to live, it's common to have thyroid. I have mentioned fibroid too which often occur due to hormonal imbalance and women have a lot of problems with hormonal imbalance. Some women have both thyroid and fibroids. Overall weight gains in both thyroid and fibroid but in fibroid there is more fat in the abdominal. Most of the fat in her body is in her abdominal, so she may have fibroid or she may have both thyroid and fibroid. Not every woman likes to tell publicly about her fibroids, especially when fibroids occur before marriage because it makes it difficult to conceive.

 

[boti]

I agree with your points but symptoms of thyroid are different from person to person. There are two types of thyroid, one in which weight gains and the other in which weight reduces. In the environment in which female artists have to live, it's common to have thyroid. I have mentioned fibroid too which often occur due to hormonal imbalance and women have a lot of problems with hormonal imbalance. Some women have both thyroid and fibroids. Overall weight gains in both thyroid and fibroid but in fibroid there is more fat in the abdominal. Most of the fat in her body is in her abdominal, so she may have fibroid or she may have both thyroid and fibroid. Not every woman likes to tell publicly about her fibroids, especially when fibroids occur before marriage because it makes it difficult to conceive.

PCOS too (fertility issues).
Yes, unfortunately I am well aware about thyroid problems. Hypo leads to weight gain, hyper to weight loss.

The thing is, as one of the issues - they build their entire fame and success on the parasocial-motif, where they share EVERYTHING with their fans. Except when honesty is at play...
I don't believe her statements, that the neck injury caused her problems. Or better said - the amount of corticoids one needs to take and the length of that process is an extreme one and you don't get thyroid issues, or cushing after a few injections. It is "prolonged exposure"
Whatever neck injury she had, I doubt that a treatment that would eventually lead to cushing and hypothyroidism, couldn't be avoided.
Which is why I suspect other reasons that led to her weight gain or/and any of her thyroid problems.

 

[boti]

hahaha



true

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[boti]

drunk, high....lifestyle...

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??

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HAHAHA

 

[boti]

That's what they sign for, what they want to do, and when they aren't successful, they complain About. The hypocrisy and stupidity.




OH MY GOD

 

[boti]

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[boti]

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[boti]

• It's funny how companies enforces the "OT" policy. Love all of them, buy the merchandise of ALL of them, post content of ALL of them, or you're out. Only so that they can sell their shit 7 times more.
  well / I had no idea Jin is out, no idea Hoseok was out and this even in OCTOBER 2024??

I see a madness now counting the dischargement days for Jungkook. Surprisingly enough, not so much excitement for Taehyung. Or Jimin. Nevermind the rest of them.

‘When BTS members got shares…’: Fired BIGHIT director’s explosive post reveals ‘evil’ HYBE let ‘alcoholics’ devour shareholders’ stocks​

HYBE CEO Bang Si Hyuk faces a fraud probe, while ex-director Elly Chae Eun exposes toxic culture, clearing BTS of any wrongdoing.​

By: Entertainment Desk
New Delhi | Updated: June 7, 2025 06:37 IST

Ex-BIGHIT director exposes HYBE’s dark side, clears BTS
BTS’ comeback as OT7 after two long years is due this week. This would mark the first time since the legendary K-pop singers enlisted in the military that their agency, HYBE, has finally seen a decent uptick in the stock market. But just when things were starting to look up, the agency’s chairman and CEO, Bang Si Hyuk found himself under the FSS scanner in a suspected stock fraud case. A search and seizure were carried out days ago. And now, Elly Chae Eun, former communications director at the company, has broken her silence. In a blistering social media post, she tore into the toxic work culture at HYBE and even mentioned BTS, while making it clear the boys had no part in the mess.

Also read: BTS mastermind Bang Si Hyuk may face life in prison over suspected $290 million fraud; HYBE shares plunge

Former BIGHIT director rips into ‘truly evil’ HYBE ​

Elly Chae Eun was allegedly fired in 2017, claiming the company dismissed her because she “no longer suited their preferences.” On June 7, Elly posted a statement on Threads calling out HYBE’s deep-rooted greed. In a post titled, “This is the hidden story behind the process of being promoted to an executive — something even I didn’t know,” she said she was asked to leave despite sacrificing years of her life, both physically and mentally (translated via Koreaboo). Elly wrote, “I used to sleep with my phone next to me all the time. I lost 7kg over two years after joining the company and even had symptoms of hair loss. I poured my heart into my work, taking care of the company’s male idols — ‘sons of others’ — rather than my own precious children.”


Then came the real sting. According to Elly, after she left, HYBE handed out huge sums (₩50-100 billion) to their inner circle, people who, she says, weren’t even around when BIGHIT was struggling in its early days. This timeline matches the Financial Supervisory Service’s allegations accusing Bang Si Hyuk of manipulating shareholders into selling their shares cheaply by denying IPO plans, only to go public later anyway.

‘BTS has nothing to do with it’​

In 2020, each BTS member became a shareholder in HYBE, which originally started as BIGHIT with the seven-member boy band. In her post, Elly cleared BTS of any wrongdoing. She said she genuinely celebrated when BTS members received shares and grew wealthy, calling them the real foundation of the company. “They absolutely deserved everything they achieved — those seven were the beginning of HYBE itself.” However, she claimed the real problem lies with the corporate suits who swooped in later. “The ones who later swooped in and devoured shareholders’ stocks at cheap prices, who went behind people’s backs… people who played golf with corporate cards, lounged in luxury rooms, drank alcohol — they are the real evil ones.”

Bang Si Hyuk is currently being accused of pulling off a shady deal that helped his close allies buy investor shares at dirt-cheap prices, right before HYBE went public in 2020. The profit was a whopping ₩400 billion (around $290 million), with Bang reportedly getting a huge cut, around 30%, through a secret deal with a private equity fund set up by someone close to him. South Korean law demands full transparency when it comes to IPO filings, and according to the officials, Bang failed to do that. Misleading investors like this could land someone in prison for life. HYBE, for their part, has denied everything.

https://indianexpress.com/article/entertainment/music/when-bts-members-got-shares-fired-bighit-directors-explosive-post-reveals-evil-hybe-let-alcoholics-devour-shareholders-10052797/

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• What I am about to say, is, as always, from the point of view of which I do not have access to what's really going on. So this is what I believe.

Those people are monsters. I believe that what she says is true, in terms of greedy "suit" type and the way Bang gives away big bucks.
Interestingly enough, I remember saying this years ago, without knowing what will happen, that Bang got rid of a lot of people who were there from the start, which it is indeed the hardest period of time. I believe it had to do with lots of tings he didn't wanted to come out.
Also I remember that he fired a person who was managing their appearances around 2017-2018 in the USA without notice, warning. etc. I know that I posted the story. That person called over the place, when noone knew BTS and tried to get them gigs in the shows and after he succeeded, which is the hardest ting to do, to secure deals for unknown people, then they got rid of him/her. They, as in Bang.
Firing people without merit isn't something new for Bang. This is something wroth remembering. As it seems to happen more often than not.
I wonder if it wasn't her, that the story is actually about.

The comments of the thread below aren't correct, in my opinion, because why the hell would BTS fans, the fucked up idiots, would attack her and say that she did a poor job.
Her complaining about weight gain of 7 kg...that's a big pathetic and given her stature not even that much in 2 years.






She also sounds honest to me, being accused that the guys with go out with an older lady, but we know already, that they go out with older ladies...I just don't believe that this is the case with her.




I believe that this person was unfairly treated, fired maybe in the same way, that Bang handles things, thinking he is above the law treating people like shit, but she made the mistake to jump into the Min Hee jin's defense, which is, together with NewHookers, a monster equal to what Bang represents.
By doing so, she put herself and her situation at the same level with MHJ's, which isn't favorable.

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I believe that Bang screwed a lot of people over, and given the statements related to his pushing for the president, under whom he went public with the IPO and pulled so many shady stunts, this is nothing but a power struggle right now and how much Bang is willing to pay.

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"It was a Sunday a few days before the 2017 election. There was work to do so I went to work and ended up going to eat with the company's president. A kalguksu joint in front of the company building.
The mood was restless over an early election caused by the impeachment of the former president. I was always a moderate conservative, but at the time I was having mixed feelings about who to vote for.
The company president then said to me, 'We need to vote for Moon Jae In!'
I acted like I hadn't heard him.
'We need to vote for Moon Jae In if we want to save this country!'
'Um sorry... I'm a moderate conservative...'
Hearing this, he suddenly grabbed my hand and pleaded with me to vote for Moon Jae In.
I was extremely uncomfortable and shaken by the situation.
I politely disclosed my political inclination only to have him not only force his views on me, but also instigate unwanted physical contact.
Isn't this a case of power abuse in the workplace.
8 years have passed. He's now a billionaire who is about to be investigated by the Financial Supervisory Service and the Prosecutor's Office.
Just sharing an unpleasant experience that suddenly came to my mind now that the election is around the corner."

An alleged former employee exposes Bang Si Hyuk's political leanings, 'He pleaded with me to vote for Moon Jae In'

A recent Threads post by an alleged former HYBE Labels employee is garnering attention for "exposing Bang Si Hyuk's political leanings".…

www.allkpop.com

• This isn't something surprising. As you imagine, and you know by now, I left the environment, because I couldn't stand the gays and all the torture of being treated like a slave and giving my money to them. I am still a slave, like everyone else, but at least I got a bit of distance. Unfortunately yes, if you work somewhere, often people will pressure you to vote a certain way, but only because of their profit. Bang's hypocrisy of saving the country, is just a vomit of an excuse. He was securing his illegal deals, that the president was ok'ing.

He is now investigated, because he's a bit political exposed and probably refuses to pay.
Remember the situation with BTS, when they would give ambiguous answers in terms of their entlisment? That's because their president-friend was no longer in charge and they hoped that they will be exempted. Which is why it came to the damaging semi-tour and performances of all of them.
Bang didn't prepared for this situation and focused on the IPO, rather than BTS. Then the schock came, that they have to entlist.

Now they have this issue of all the bullshit Bang pulled through, to get its IPO.
In the end it's about how much he's willing to pay off.
One of the issues is, that he wronged a lot of people who sacrificed a lot, were loyal and helped him build his empire. Then they got screwed over. I believe that the story of this Chae Eun (Elly Chae) is one of those cases, of someone who got tricked into loosing a lot of money, taken advantage off and thrown under the bus.

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• In terms of IPO-crime or not, this is an article rom 2019. I wrote yesterday and remembered about my detailed financial analysis from back then, as well as the investigated work I did, how they had major chinese investors, and the weird uncle Netmarble, who I believe to be the silent pimp and boss behind this entire Bang/BTS story.

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This is how the shares were divided

• Vice President Choi Yoo Jung (160,000 shares)
• Producer Pdogg (Kang Hyo Won), 128,000 shares)
• Former HYBE America CEO Yoon Seok Joon (120,000 shares)
• Head of Management Kim Shin Gyu (88,000 shares)
• Former Comms Director Chae Eun (56,000 shares)

I also wrote often about the weird relation between Pdogg and bang, but notice how Pdogg got twice the number of shares, compared to the individual members of BTS, despite the fact, that YES, HYBE IS BTS. The entire wealth of everyone involved, and the power of the company wouldn't have been possible without BTS. That was one of the fraudulent basis of their IPO, as they level of risk, which shouldn't have been cleared by the trading commission, was ignored.

Previously, it was confirmed that Bang Si Hyuk gave each of the 7 members of BTS approximately 68,000 shares (480,000 total) ahead of HYBE's public listing in 2020. At the time, the shares were worth approximately 64.6 billion KRW (9.2 billion KRW (~ $6.7 million USD) per person). In 2021, members Jin, j-hope, and RM sold a portion of the shares they owned, pocketing 4.8 billion KRW, 1.8 billion KRW, and 3.1 billion KRW respectively. Currently, it is unknown of the other BTS members continue to possess their allotted shares in HYBE. The members' statuses were changed from public to private shareholders after September of 2023.

Bang Si Hyuk's $300 million insider trading investigation sparks renewed interest in the meager shares handed to the BTS members during HYBE's IPO

Earlier this week on May 28 KST, it was reported that South Korea's Financial Supervisory Service is investigating HYBE Labels chairman Bang Si Hyuk…

www.allkpop.com

Back to the article from August 21th, 2019:

Big Hit Entertainment gets innovative: Agency behind BTS looks to revolutionize the music industry at home and abroad​

Published: 21 Aug. 2019, 19:18

CEO Bang Si-hyuk of Big Hit Entertainment gives a presentation at the “Big Hit Corporate Briefing - With the Community” held Wednesday at the Korea Textile Center in southern Seoul. Bang, along with co-CEO Yoon Seok-jun and beNX CEO Steve Seo, shared Big Hit Entertainment’s business plans, as well as their ultimate goal of revolutionizing the global music market. [BIG HIT ENTERTAINMENT]
Big Hit Entertainment aims to be the leader of innovation in the global music market, CEO Bang Si-hyuk said on Wednesday.

The entertainment agency, home to K-pop superstars BTS, held “Big Hit Corporate Briefing - With the Community” on Wednesday at the Korea Textile Center in southern Seoul to review the company’s success over the past few years and present its grand future plans to innovate not only itself as a company, but the entire international music industry as whole.

“As BTS has become immensely popular in recent years, the number of times people talk about Big Hit Entertainment has increased,” said Bang. “The company gets news coverage from outlets both big and small, for which we are always grateful. But today is not about just our revenue or a merger. Today is about explaining the bigger picture that we have in our mind, that is, to bring about revolution in the music industry.”

Big Hit Entertainment was founded on Feb. 1, 2005 after producer Bang separated from JYP Entertainment. In the early days of the company, Bang continued to work as a producer within JYP, maintaining a congenial relationship with his previous team. Big Hit launched its first act, girl group GLAM, in 2012 together with Source Music, but the group failed to make a splash.

In 2013, the company presented their very own group made up of fresh faces, without the help of any other entity - BTS. The septet debuted on June 13 with their EP “2 Cool 4 Skool,” and broke through in 2016 with their popular tracks “Fire” and “Blood, Sweat and Tears.” From then on, BTS took the music world by storm, re-writing history with every new record they set.

Over the last three years, Big Hit Entertainment grew at a speed like no other music company in Korean history. Their revenue rose from 35.2 billion won ($29.3 million) in 2016 to 92.4 billion won in 2017 and 214.2 billion won last year. During the first half of this year, their revenue reached 200 billion won, nearly the amount they earned in the entirety of 2018. Their operating profit in the same time period was 39.1 billion won, more than half of the operating profit of 2018.

Yet, Bang’s visions do not stop at increasing profits. “We seek to change the music industry as a whole, not just in Korea, by fully realizing the value of music, by increasing the size of the music market, by bringing change to the system, so that the industry and the people working in it all live better lives,” Bang said.

The agency’s road to revolution focuses on three visions, which include revolutionizing the customer experience for fans, innovating a new platform-driven experience and creating a value chain of business with their intellectual properties.

According to Yoon Seok-jun, the co-CEO of Big Hit Entertainment, BTS has created around 500 billion won’s worth of economic value in the local market, citing a report by Professor Pyun Ju-hyun of Korea University’s Business School. During the four days that BTS held fan meeting events this year, BTS had an economic impact of 136 billion won in Busan and 346 billion won in Seoul, counting both the direct and indirect effects the group had on the local market.

“We will create a new concert-going experience for fans, who currently need to pay large amounts of money and endure a series of hardships in order to attend,” said Yoon.

The company’s plans include selling merchandise online so that fans don’t have to start lining up early in the morning to get their hands on limited edition goods and providing chairs and tables outside of concert venues so that they can wait comfortably instead of standing up or sitting on the ground. Food trucks and other vendors will also be nearby, so that fans don’t need to worry about bringing their own food with them.

Tickets for local K-pop concerts have traditionally been sold on a first come, first served basis, giving fans mere seconds to secure a chance to see their favorite acts. But since the rise of illegal programs that scalpers use to get tickets so that they can sell them at a higher price, the process has become even more difficult. To give fans a better opportunity to see their favorite acts perform live, Big Hit started a lucky draw system this year, in which members of a group’s fan clubs are picked at random and offered the chance to buy tickets.

“We will extend our lucky draw system for concert tickets to make sure that the injustices that happen while ticketing to do not occur any more,” he said. “But ultimately, we believe that enjoying a concert should be different in the future. Regardless of where you are and when [the concert is], you should be able to enjoy the atmosphere just the same. It will be designed to meet different people’s needs, but in a way that everyone gets to enjoy the same energy.”

Helping Big Hit Entertainment achieve their goals of creating big changes in the industry is online platform developer beNX, which has released two major fan-based services - Weply and Weverse. Big Hit Entertainment founded beNX last year, along with content publisher beOrigin, to expand its business. The company has also recently acquired entertainment agency Source Music and game developer Superb this year, as well as recruiting Min Hee-jin, a former creative director at SM Entertainment, to be the chief brand operator.

Weverse, a community app, offers fans the ability to easily interact with others around the world. Weply, an e-commerce app, allows fans to purchase merchandise and tickets.

“Bang told me that he had a plan to go to the space, so he needed me to make a rocket,” said Steve Seo, CEO of beNX. “We were dedicated to build that rocket to lead the revolution. Our company is made up of people who closely study fan [culture] to make sure our services are geared towards creating the best experience for fans.”

CEO Bang hinted at two projects to launch in the next year while explaining the agency’s plans to utilize their intellectual property to fortify their brand identity. While the agency already has plans for novels, animated series, comic books and movies, it will also release a big budget drama in partnership with one of Korea’s major TV channels, as well as another mobile game in collaboration with game company Netmarble.

Big Hit Entertainment has already created a series of popular products, such as the Netmarble game BTS World, their webtoon series with Naver and their dolls with Mattel. BT21, the characters that BTS co-developed with Naver’s Line, is one of the most successful products established under the agency’s business model. All are a part of the company’s efforts to “recreate the stars into living characters that will live on forever and give fans a difference experience with them,” according to Bang.

“We at Big Hit seek to change the paradigm in the music industry and improve the quality of life of those who work in the music industry. We will work to expand our business models to go beyond [conventional] borders to provide high-quality content and give consumers the best experience.”

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• Bang moved shares around unter the umbrella of the former president and he, together with the people involved, thought that it won't catch up to him.

​

BTS producer Bang Si-hyuk cuts stake in Big Hit

PUBLISHED : March 26, 2019 - 15:13:26


Bang Si-hyuk, the producer behind hugely popular boy band BTS, appears to have cut his stake in Big Hit Entertainment, the company’s regulatory filings showed on March 26.

The co-CEO of Big Hit originally held 50.88 percent stake in the firm, but latest regulatory data showed that it has fallen to 43.06 percent. Shares held by Choi Yoo-jung, vice president of Big Hit, also decreased by 2.39 percentage point from 6.97 percent.

Some speculate that Bang has secured some 65 billion won ($574 million) by selling part of his stake. The agency declined to confirm the sale or value of the stake.

Related: The Big Bangs behind BTS, Netmarble CJ, Big Hit to collaborate to create BTS-like boy band

Industry sources say the change in Bang’s stake and other executives is part of a series of investments the company secured last year.

In April 2018, Big Hit secured investment of 201.4 billion won from mobile game giant Netmarble at a valuation of 800 billion won. Six months later, the entertainment company received 104 billion won funds from venture capital firm STIC Investment, this time at a valuation of 870 billion won.

While Bang continues to the largest shareholder, Netmarble, led by his cousin Bang Jun-hyuk, has became the second-biggest shareholder with a 25.22 percent stake. STIC holds 12.25 percent.

Backed by the worldwide popularity of the seven-member boy band BTS, Big Hit logged record sales of 214.2 billion won and a net profit of 50.2 billion won last year, jumping 132 percent and 105 percent, respectively, from 2017. Investors of the entertainment company expected a further increase in the valuation of Big Hit. Some critics, however, say it relies too heavily on BTS.

Founded in 2005, Big Hit is trying to diversify its portfolio by setting up Belief Lab, a global audition to seek the next superstars, and introducing new musicians such as five-member boy band Tomorrow X Together.

By Park Ga-young ()

https://m.theinvestor.co.kr/article/1954269

Yes, of course he tried bullshit. His entire wealth and the one of his cousin, is based on fraudulent and shady, behind the curtain, businesses.

Bang Si-hyuk, who was confident in 'Happening'... Why was he held back by fraudulent trading?​

'Duple play' because there is no plan to list while applying for the first designated audit in 2019
BTS is growing rapidly, and the conflict continues over the IPO point between the founding companies.
Possibility of sharing the listing schedule with the core executives who have been granted 'stock options'
Son Jung-eun's 'vision fund' announces plan to attract 1 trillion, suggesting that there is no IPO plan
This article was published on Market Insight at 08:38 on June 5th.

Immediately after Market Insight reported a 'profit-sharing agreement' between Hive Chairman Bang Si-hyuk and his close associate private equity fund (PEF) at the end of November last year, Hive and his associates such as Kim Jung-dong, Yang Jun-seok, and Kim Chang-hee have been preparing for a high-intensity investigation by the Financial Supervisory Service. PEF personnel had conflicts with each other in the process of distributing the 200 billion won from the Hive investment, but when the fire fell, they recalled the situation at that time. I also remembered the transaction process by matching the emails exchanged, recordings, timelines, etc. He also communicated with the relevant personnel such as LB Investment, which sold its shares.

After grasping that the trends of the three countries investigating within the Financial Supervisory Service have calmed down through various information networks, they and Hive judged that the matter would be buried below the surface. However, the Financial Supervisory Service changed from three investigation countries to two investigation countries and devoted himself to collecting evidence related to equity transactions at that time. The police have also narrowed the investigation network by synthesizing their actions at the time. It is expected that the prosecution will go on a full-scale investigation soon.
At the time of the first designated audit, "There is no IPO plan"
According to the financial investment industry on the 5th, both the Financial Supervisory Service and the police see that Hive (Big Hit at the time) has already applied for a designated audit for listing before September 2019 as a key evidence of Chairman Bang's accusation of 'frauduleule trading'.

Chairman Bang officially mentioned the listing of Hive in 2017. Since then, there has been no preparation for listing. Since it received the first designated audit in 2019, it is interpreted as the start of the actual listing preparation from this point. The designated audit is a key procedure directly related to the listing schedule. To request a preliminary listing review to the Korea Exchange, you need a financial statement audited by the designated auditor.

Usually, non-listed companies must submit a designated audit application to the Financial Supervisory Service before September every year in order to receive a designated audit for their annual performance. About 4 weeks later, when the Financial Supervisory Service designates multiple accounting firms, the company chooses one of them and signs a contract. After being designated as Hanyoung Accounting Corporation and Ichon Accounting Corporation, Hive signed an audit service contract with Hanyoung Accounting Corporation in November 2019.

The time of notifying existing investors that there is no listing plan and preparing for a designated audit overlap. Around September to October 2019, Hive explained that existing investors have no plans to go public for the time being. A response in the name of the management that it was difficult to list considering the market situation was delivered to the existing shareholders who requested the listing at that time.

It is pointed out that there was no reason for the market to spend hundreds of millions of won to receive the first designated audit if the listing plan was closed. Hive paid 350 million won for audit services in 2019. In 2017 and 2018, when they did not receive external audits, the audit service fee was only 30 million to 40 million won each. After signing the actual designated audit contract, the listing process went through one step and went public in October 2020.

At the time of the designated audit, the existing shareholders who believed in Hive's position that it was impossible to list the listing were worried that the investment would be tied up, so they sold their shares to the PEF established by Chairman Bang's aide, and Chairman Bang signed a secret contract with the PEF to return 30% of the profit.

In addition to the designated audit, the industry expects the authorities to have secured a large number of evidence to prove that Hive and Chairman Bang have been working hard to list the company. The 'stock option' granted to key executives such as start-up gshin is also emerging as another primer.
Did you really share the listing schedule with the core executives?
In November 2016, Hive granted stock options to five people, including △Vice President Choi Yoo-jung (160,000 shares) △Congwriter P-Dok (Kang Hyo-won, 128,000 shares) △former Hive America CEO Yoon Seok-jun (120,000 shares) △Kim Shin-gyu General Manager (88,000 shares) △Chae Eun, former Communication Director (56,000 shares). This stock option could be exercised from January 1, 2019, and the exercise price per share was 1,063 won.

2016, when they were granted stock options, was an important turning point for Hive and BTS, the representative artist. BTS, which gained popularity mainly in domestic fandom in 2015, the previous year, grew rapidly as a global idol with the release of their second full-length album in October 2016. It is the time when BTS began to enter the global chart, such as ranking first on the Billboard World Chart after their first solo concert.

At the same time as BTS became a global star, there was also a noise inside the Hive related to the stock option event. Employees who joined Hive in 2008, which was a small and medium-sized company with about 10 employees, have been underprisoning with the aim of 'a jackpot' through listing, but as the company grows, problems surrounding distribution begin. In particular, when LB Investment and Korea Investment & Securities, which were existing investors in October 2018, sold their shares of Hive to Stickinvest at about 30,000 won per share, it is said that the agitation of certain executives such as Vice President Choi grew even more.

Chairman Bang took advantage of their dissatisfaction to reorganize his shareholders once. First of all, Vice President Choi, who has expressed his intention to leave the company several times, said, "I want to leave the industry," and sold his shares to Eston PE with existing investors. At that time, the unit price per share was between 32,000 won (Eston 1) and 4,273 won (Eston 2). At this time, the contents related to the listing were also told by Vice President Choi. Vice President Choi said on the phone with reporters, "There was no talk about the listing."

At the same time, the stock option granted to the former director as another initial executive was canceled. The reason is that he left the company because he could not complete the mandatory term of service. Former director Chae is suing with Hive, saying, "The company induced an involuntary resignation."

Two of the key executives left the company to prevent the dilution of the shares, but the whereaves of the key personnel in the company's operation was another problem. The representative person is the composer Pedok. He has been with BTS since their debut, and has been in charge of writing and composing numerous hit songs such as 'Spring Day', 'DNA', 'Poetry for Small Things', and 'ON'. In the industry, there is a story that "BTS is healthy without the chairman of the room, but it will be shaken without a blood doc" is considered a key figure in Hive's success. Since it was a matter of whether the company was listed or not depending on his whereains, it was urgent to minimize the conflict. In fact, P-Dok held stock options until the listing of Hive and exercised them in the first half of 2021, making a difference of 39.9 billion won. Considering that his salary was only 38 million won and his bonus was 111 million won in the public announcement in 2021, stock options actually accounted for most of the compensation.

Some people believe that Chairman Bang and some key executives, except Vice President Choi, who decided to sell their shares, shared the listing schedule in detail and calmed their dissatisfaction. It is analyzed that if the authorities had obtained the conversation or oral statement at this time, it would have been another key evidence that the company prepared for listing in addition to the designated audit conducted at the time.
"Son Jeong-eu-eu-sei's fund will not be listed"

In addition, it has been confirmed that Chairman Bang and Hive have continued to make remarks to calm the doubts of existing investors who have inquired about whether the company will be listed several times. From September to October 2019, a committee chaired by executives such as CEOs held an official position that there was no plan to go public, and it is said that Son Eui-eui's 'Vision Fund' was mentioned at this time. The purpose was that "I will buy time until the company's value is properly recognized by attracting 1 trillion won from the Vision Fund instead of the sizing." Hive also conveyed to investors that " Chairman Bang has no plans to go public with an enterprise value of less than 5 trillion won."

At that time, an Alpenrut official who sold shares in Hive in Eston PE, etc. said, "Hive senior officials repeated the words 'there is no plan to go list' every time they met," and "Then they introduced Eston PE as a long-term investor."

However, under the water, Easton PE·Newmain Equity, an aide PEF who signed a profit-sharing agreement with Chairman Bang through listing, was in the midst of raising funds to buy shares from investors. Easton PE's No. 1 fund, which was created in April 2019 by CEO Yang Jun-seok, a former securities company, received 25 billion won from Hoban Construction and collected a stake in Vice President Choi, and in November of that year, Kim Jung-dong, a former outsider director of Hive, who mediated Chairman Bang and CEO Yang, joined as PEF and grew the market. Eston PE purchased an additional 105 billion won worth of shares with Vice President Choi and existing investors through joint investment (Eston·Newmain No. 2) with New Main Equity, another new PEF established by Kim Chang-hee, a former bank. Among them, the No. 2 fund has signed a contract to share 30% of the profits with Chairman Ban.

Hive succeeded in listing according to the scheduled designated audit schedule, and three people earned about 200 billion won in performance compensation. Former Managing Director Kim received about 100 billion won, which is half, and CEO Yang and CEO Kim each received about 50 billion won. These three people had a hard time in the distribution process, but there was no disagreement that former director Kim, who had communicated with Chairman Bang in the process of acquiring existing investor shares and listing, had half of them. It is said that CEO Yang and CEO Kim have a conflict over the remaining amount. The one who held the biggest cash in his hand was Chairman Bang. It received a total of about 400 billion won, including 200 billion won from E-Ston PE and others.

Reporter Cha Jun-ho chacha@hankyung.comReporter Choi Seok-cheol dolsoi@hankyung.com

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'해프닝' 자신하던 방시혁…왜 사기적 부정거래로 발목 잡혔나

이 기사는 06월 05일 08:38 마켓인사이트에 게재된 기사입니다. 지난해 11월말 마켓인사이트가 방시혁 하이브 의장과 측근 사모펀드(PEF)간 '이익 공유 계약'을 보도한 직후, 하이브와 김중동·양준석·김창희 등

n.news.naver.com

 

[boti]

I am tired from all the work for the post above...🥸

 

[boti]

“Did They Really Share the Listing Schedule with Key Executives?In November 2016, HYBE granted stock options to five founding members: △Vice President Choi Yoo-jung (160,000 shares) △Composer Pdogg (Kang Hyo-won, 128,000 shares) △Former HYBE America CEO Yoon Seok-jun (120,000 shares) △Head of Management Kim Shin-kyu (88,000 shares) △Former Communications Director Chae Eun (56,000 shares).These stock options could be exercised starting January 1, 2019, at an exercise price of 1,063 won per share.2016, the year these stock options were granted, was a crucial turning point for HYBE and its flagship artist, BTS.Having gained popularity primarily among domestic fandom in the preceding year, 2015, BTS rapidly grew into a global idol group with the release of their second full-length album in October 2016.This period marked BTS’s entry into global charts, including their first solo concert and reaching #1 on the Billboard World Albums chart.As BTS ascended to global stardom, internal friction within HYBE regarding stock option exercises also emerged.Employees who joined HYBE in 2008, when it was a small company of about 10 people, had endured poor treatment with the goal of hitting the “jackpot” through an IPO.As the company grew, issues surrounding distribution began to surface.In particular, when existing investors like LB Investment and Korea Investment & Securities sold their HYBE shares to Stick Investment at around 30,000 won per share in October 2018, the unrest among certain executives, including Vice President Choi, reportedly intensified.Chairman Bang leveraged their dissatisfaction to orchestrate a shareholder restructuring.





First, he facilitated the sale of Vice President Choi’s shares, who had repeatedly expressed her intention to resign stating “I want to leave the industry,” to Estone Private Equity along with existing investors.At the time, the per-share price ranged from 32,000 won (Estone 1) to 40,273 won (Estone 2).During this process, any information related to the IPO was withheld from Vice President Choi.Vice President Choi stated in a phone call with the reporter, “There was absolutely no talk about an IPO.”Simultaneously, the stock options granted to another early executive, former Director Chae, were canceled on the grounds that she resigned without fulfilling her mandatory service period.Former Director Chae is currently engaged in a lawsuit with HYBE, claiming “the company induced involuntary resignation.”While the departure of two key executives prevented share dilution, the future of core personnel for company operations presented another challenge.A prime example is composer Pdogg.He has been with BTS since their debut, having written and composed numerous hit songs such as “Spring Day,” “DNA,” “Boy With Luv,” and “ON.”In the industry, it’s said that “BTS would remain strong even without Chairman Bang, but they would falter without Pdogg,” highlighting his critical role in HYBE’s success.As his continued presence was tied to the company’s potential IPO, minimizing conflict was paramount.Indeed, Pdogg held his stock options until HYBE’s listing and exercised them in the first half of 2021, generating a profit of 39.9 billion won.Considering his official salary in 2021 was only 38 million won and his bonus 111 million won, stock options effectively constituted the majority of his compensation.Some speculate that Chairman Bang appeased certain key executives, excluding Vice President Choi who agreed to sell her shares, by secretly sharing detailed IPO schedules and other information.If authorities have obtained records of these conversations or verbal testimonies, it could serve as another crucial piece of evidence that the company was preparing for a listing, in addition to the designated audit that was underway at the time.”