[SBS Star] HYBE Staff Use Undisclosed Info About BTS; Under Investigation for Insider Trading

It was reported that some staff at K-pop boy group BTS' management agency HYBE are being investigated for insider trading. 

On May 31, the Financial Supervisory Service's Capital Market Special Judicial Police shared that three members of HYBE staff were caught insider trading; they sold their stocks after gaining nonpublic information about the company. 

Their case of violation of Capital Markets Act has recently been sent to the prosecution. 
According to the Financial Supervisory Service Police, the three employees were in charge of K-pop group-related works within the company. 

They said to have sold their stocks right before the news regarding BTS' temporary break on their group activities broke.

It is assumed that they knew that this information was going to be announced soon, and it would affect the company's stock price. 

On June 14 last year, BTS announced to halt their group activities for the time being. 

The next day, on June 15, HYBE stock price dropped by 24.68 percent. 

By selling their stocks in advance, these employees avoided a total loss of about 230 million won (approximately 152,000 dollars), based on the closing price on the 15th. 

The special police plans to thoroughly investigate and sternly respond to any actions that undermine the fair trading order of the capital market.
With a fan base that stretches from Korea to many different parts of the world, BTS is the most wildly successful and well-known K-pop group.

They had announced to take a hiatus for the group members to pursue solo projects and fulfill their national mandatory duty.

At the end of last year, JIN marked the beginning of BTS' military service. J-HOPE enlisted next; he began his time in the army last month. 
(Credit= HYBE Labels) 

(SBS Star)