The K-pop industry has been under fire after a series of accusations of insider trading by three employees of subsidiaries of HYBE Corporation. The company is well-known for its superstars, BTS, and this caused a major scandal in the South Korean media outlets.
The three employees were accused of selling shares in the agency before BTS members announced they would take a break on June 14, 2022. The report indicated that the employees acted with prior knowledge of what would happen, avoiding losses ranging from $24,000 to more than $108,000.
Previously HYBE shares plunged 25% when markets opened resulting in a loss in market value of nearly 2 trillion won ($1.4 billion). There is a whole speculation as to why those employees decided to act against BTS.
ARMY are completely outraged because of the recent reports and reacted negatively. On the other hand, Jin was discharged earlier this month after completing his mandatory service in the South Korean military and this could appease the controversy.
