Fair Trade Commission Launches Investigation into HYBE for Alleged Omission of Large Corporation Designation Documents

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The Fair Trade Commission has launched an on-site investigation into allegations of false submission of designated materials by HYBE.

According to industry sources on the 24th, the Fair Trade Commission dispatched investigators to HYBE's headquarters to secure materials related to the designated documents. Designated materials refer to data received annually from the same person by the Fair Trade Commission for the designation of publicly disclosed business groups, including information on affiliates, relatives, and executives.

The Fair Trade Commission believes there are falsehoods or omissions in the designated materials submitted by HYBE.

HYBE was designated as a publicly disclosed business group for the first time in the entertainment industry this year after its assets exceeded 5 trillion won last year.

A Fair Trade Commission official stated, "We cannot confirm details regarding the ongoing investigation," but added, "If there are any legal violations, we will respond strictly."

HYBE declined to comment on the Fair Trade Commission's investigation, saying, "We cannot confirm."

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