Bang Si Hyuk Used Previously-Hidden Subsidiary To Purchase $26.4M Mansion In LA
Back in June, the Korea Fair Trade Commission (KFTC) launched an investigation into HYBE Labels under the claims that the company had purposefully omitted and/or fabricated their state of affairs report. Though it was unclear exactly what they were looking for in terms of what they believed had been omitted, there were suspicions that it had to do with chairman Bang Si Hyuk and his relatives.
On July 26, just weeks after this investigation was started, HYBE ended up posting several “corrections” to their state of affairs report for 2024. These previously-omitted details included, among other things, the reveal of a subsidiary in the U.S. called BEL AIR STRADELLA, LLC, which was originally registered in December 2023 and 100% owned by Bang Si Hyuk himself.
Upon the revelation of this subsidiary, which was registered as a real estate company, shareholders of HYBE believed that this it was created in the U.S. for the sole purpose of Si Hyuk purchasing a $26.4 million USD mansion in the Bel Air neighborhood of Los Angeles.
This giant mansion now owned by Bang Si Hyuk previously belonged to comedian Trevor Noah until 2022. The HYBE chairman purchased the home in April 2023.
It’s unclear why this subsidiary was previously omitted from the HYBE Labels state of affairs report. But considering all of the scandals and issues that the company has been having lately, netizens are suspicious of any behavior by their staff, especially Si Hyuk, that could be questionable.
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