Bang Si-hyuk case: National Musuem of Korea faces backlash for posting photo of Director Yoo Hong-jun and HYBE chairperson

Bang Si-hyuk, also known as "Hitman" Bang, is a South Korean music executive, record producer, and songwriter. The trouble for the HYBE chairperson seems to be growing with each passing day over stock fraud allegations. Amidst this, a report is doing the rounds that the National Museum of Korea is facing backlash for posting a photo of director Yoo Hong-jun and Bang Si-hyuk. Now the museum has responded to it. Let's delve into it to know more details.

The National Museum of Korea's response to the backlash

According to reports, the National Museum of Korea posted on social media a photo of Director Yoo

Hong-jun and Bang Si-hyuk standing side by side and smiling, along with the text, “The National Museum Foundation of Korea (NMF) signed a memorandum of understanding with HYBE to spread Korea's cultural heritage and K-culture.” The National Museum of Korea later deleted the photo after the backlash.

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However, the posting of the photo was met with criticism, and one user wrote on X, “The way he's under criminal investigation and they post this...crazy work.” Another user wrote, “They should keep Bang Si-hyuk in the museum as an example of a piece of s***.” “I hope this criminal is going to be jailed while MHJ stays winning,” wrote the third user.

Bang Si-hyuk's case involving stock fraud

As per reports, Bang is a reported suspect on charges of violating the Capital Markets Act. Recently, the Seoul Metropolitan Police Agency's Financial Crime Investigation Unit imposed an overseas travel ban.

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Reportedly, he is under suspicion that in 2019, during the process of purchasing shares from existing shareholders before HYBE's listing, he misled existing shareholders to believe the listing would be delayed, even though HYBE was proceeding with preparations for listing.

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For the unversed, he is the founder of the record label Big Hit Music and the chairperson of HYBE Corporation. One of the 50 wealthiest people in South Korea according to Forbes Asia, Bang is the only billionaire in the South Korean entertainment industry. By July 2021, his reported net worth was an estimated $3.2 billion, according to the Bloomberg Billionaires Index.