BTS company employees going through insider buying and selling costs | EUROtoday

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Three workers of subsidiaries of HYBE, the company behind Ok-pop superstars BTS, have been charged with insider buying and selling by South Korean prosecutors.

They are being accused of promoting shares within the company earlier than BTS members introduced they have been taking a break on 14 June, 2022.

The announcement despatched HYBE shares plunging 25% when markets opened, leading to a loss in market worth of almost 2 trillion gained ($1.4bn; £1.1bn).

The prosecutors mentioned the three workers acted with prior information of what was about to occur, avoiding losses starting from $24,000 to greater than $108,000.

At the time, many analysts speculated concerning the causes for the hiatus, with some saying the band members must attend South Korea’s necessary 18-month navy service.

South Korea continues to be technically at battle with North Korea, so almost all able-bodied males are obliged to enlist for 18 months by the point they flip 28.

All members of the band would find yourself being drafted within the months and years that adopted.

The oldest member of the hit boy band, Jin, was discharged earlier this month after finishing his service.

The different six – J-Hope, V, RM, Jimin, Jung Kook and Suga – are nonetheless serving and the band is predicted to reunite solely in June 2025.

Fans of the wildly common boyband are hoping Jin’s return can also be the start of BTS’ return from its hiatus.

https://www.bbc.com/news/articles/c1vd7y5rnnwo