HYBE has officially been recognized as a major corporate group, a first for an entertainment-centric company in South Korea.

On May 15, the Fair Trade Commission declared HYBE as a “publicly-disclosed corporate group” for 2024, with total assets surpassing KRW 5 trillion (approximately 3.85 billion USD).

Bang Si Hyuk, the founder and chairman of HYBE, who owns 31.57% of HYBE’s shares, is acknowledged as the “head of the same business group” (chaebol).

This development mirrors the expansion of HYBE’s scale in tandem with the global popularity of K-pop. As per HYBE’s recent business report, its assets at the end of last year were valued at KRW 5.3457 trillion, a 9.8% increase from the previous year, placing them 85th in asset size.

With HYBE’s rise to major corporate status, Bang Si Hyuk has ascended the ranks of major conglomerate leaders.

Amid conflicts with Min Hee Jin, the head of HYBE’s label ADOR, HYBE’s new designation and Bang’s inclusion in the official list of conglomerate leaders by the Fair Trade Commission are drawing significant attention.

Furthermore, this designation marks a first in South Korean history since the inception of the major corporate group and chaebol leader designation system in 1986, that two related individuals, Bang Si Hyuk and his relative Bang Joon Hyuk, chairman of Netmarble (which was designated in 2018), appear together on the chaebol list.

A Fair Trade Commission official commented, “The rapid growth of the entertainment industry, fueled by the global success of K-pop acts like BTS and their key revenue from albums and performances, has been reflected in this designation.”

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Choi Si Hoon, known from Single’s Inferno and newlywed husband of singer Ailee, is facing backlash after being linked to a controversy from Wavve’s queer reality show ToGetHer.

Fans discovered that Choi is allegedly the CEO of the influencer agency representing Ri Won, a cast member now at the center of a growing scandal.

The situation started when castmate Han Gyeol spoke up, claiming Ri Won once suggested an overseas trip that felt more like a shady meeting than a casual hangout.

“I thought it was a fun vacation invite at first,” Han Gyeol said, “but when they started talking about meals and date-like things, I realized something was wrong. It felt like an inappropriate setup.”
Han Gyeol added, “Using someone’s sexuality as a shield for suspicious actions is not okay in this industry.”

Ri Won responded by saying it was all a misunderstanding and that the trip was mentioned casually during a conversation about food. “We joked about going to that country after talking about food,” Ri Won said.

However, things got more intense when Ri Won admitted to having a past as a 'beotbang' (adult streaming) BJ. “I know I’m not trustworthy right now, and I appeared on TV while hiding my past. That’s why I shared some proof—I was desperate,” Ri Won explained.

Ri Won also shared a blurred message from another cast member that accused them of fake dating and lying about knowing someone from Billboard. “You said you’d introduce me to a Billboard contact. Then give me their name and title,” the message read. “You just keep switching your targets.”

Ri Won replied, “He’s the team leader at Billboard Korea and also my influencer agency CEO.”
This comment led online users to dig deeper—and some claimed the CEO Ri Won mentioned is none other than Choi Si Hoon, Ailee’s husband.

Currently on his honeymoon with Ailee, Choi is now getting unwanted attention. Some netizens brought up his alleged past as an adult BJ and now, his possible involvement in this controversy.

On Ailee’s Instagram post from April 30, one fan wrote, “Unnie, sorry to bother you during your honeymoon, but please search Choi Si Hoon’s name. A female BJ said she’s signed to his company, and he supposedly arranged a meeting for her with a just-turned 19-year-old girl.”

As the issue grew, Ri Won spoke out again on May 1 to calm things down. “The person I mentioned in the messages was just someone who gave me advice,” Ri Won clarified. “He’s not my agency CEO, like some people assumed. I thought he could help with music, but he never made any business offer.”

Ri Won ended by saying, “I’m sorry for causing any confusion and discomfort to others with my personal remarks.”

So far, Choi Si Hoon and Ailee have not made public statements about the situation.

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