Bang Si Hyuk Faces Scrutiny Over Mansion Purchase

Bang Si Hyuk, chairman of HYBE Labels, purchased a luxury mansion in Los Angeles for $26.4 million through a subsidiary called BEL AIR STRADELLA, LLC, which he fully owns. This acquisition has come under scrutiny as it coincides with an investigation by the Korea Fair Trade Commission (KFTC) into HYBE Labels for allegedly omitting details from its financial reports. The KFTC launched the investigation in June 2024, focusing on possible discrepancies involving companies owned by Bang and his relatives. Following the investigation, HYBE Labels issued corrections to its financial statements, revealing the existence of BEL AIR STRADELLA, LLC, which had not been disclosed previously. Shareholders suspect that the subsidiary was created to facilitate the mansion purchase, raising questions about Bang's financial practices. The mansion, located in the affluent Bel Air neighborhood, was previously owned by comedian Trevor Noah until 2022.