BTS military hiatus linked to HYBE insider trading case, staff from Source Music, BigHit, Belift Lab get suspended sentences
Three employees from HYBE and its affiliated labels have been sentenced for using confidential information about the group's hiatus to sell company stock before the news became public.
On July 22 KST, the Seoul Southern District Court's Criminal Division 13 (Presiding Judge Kim Sang Yeon) handed down suspended prison sentences to three individuals who sold HYBE shares just before BTS revealed their break from group activities due to enlistment, beginning with the eldest member, Jin.
HYBE insider trading case
Among those convicted was a Source Music employee, Mr. Kim (37), who received a 10-month prison sentence, suspended for two years, along with a hefty fine of 231 million KRW (approx. $167,000 USD). Former BigHit Music employee Mr. Lee (33) and former Belift Lab staffer Mr. Kim (41) were each sentenced to six months in prison, also suspended for two years, with fines of 51 million and 65 million KRW, respectively.
The insider trades occurred just ahead of BTS' bombshell June 14, 2022 announcement video, where the group confirmed a temporary hiatus as all seven members prepared to serve in South Korea's military. Following the video, HYBE's stock plummeted nearly 25% — its worst single-day fall on record.
The court's verdict
The court didn't mince words: "In the entertainment industry, an artist's group activity directly impacts company revenue. The suspension of BTS's activities was highly sensitive, material information."
The judge added, "This crime gravely undermines the integrity of capital markets and warrants strong condemnation from society."
About BTS
The group, upon reuniting, has traveled to the USA for a two-month boot camp to regroup and begin working on their upcoming album. According to the members, the new album is slated for release in spring 2026.
Currently, all members - except Jin, who is on his solo world tour - are together in Los Angeles. Rumours are also circulating that Jungkook may soon embark on a solo tour of his own.
For all the latest K-drama, K-pop, and Hallyuwood updates, keep following our coverage here.
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