The US Embassy in Korea has sent a letter to the National Police Agency requesting that the travel ban on HYBE Chairman Bang Si Hyuk be lifted, TV Chosun reported on April 19.

The Embassy’s letter reportedly cited discussions about BTS‘s upcoming world tour as the key reason for the request.

According to Hankook Ilbo, the letter also mentions attending President Donald Trump’s special July 4 celebrations for the 250th US Independence Day as another reason.

Bang has been under a travel ban since August last year amid a police investigation into alleged violations of the Capital Markets Act.

The charges against him are serious. Bang is accused of misleading investors before HYBE’s 2019 IPO, and of convincing them that the listing would be delayed. He allegedly pocketed around ₩190 billion KRW (about $130 million USD) through the scheme. While Bang Si Hyuk’s camp has denied all charges, he remains under investigation.

The US Embassy did not respond when TV Chosun asked about the specific circumstances behind the letter or its position on the matter.

The investigation into Chairman Bang Si-hyuk is entering its final stage, according to the latest statement from South Korean authorities. The development has quickly drawn significant public attention, especially as the head of entertainment giant HYBE faces serious legal allegations.

Speaking at a regular press conference on April 20, Park Jung-bo, Chief of the Seoul Metropolitan Police Agency, confirmed that the investigation into allegations of “fraudulent unfair trading” involving Bang Si-hyuk is “almost complete.” He added that authorities are currently reviewing the legal aspects of the case and expect to reach a final conclusion in the near future.

This marks a significant step forward in a case that has generated considerable controversy within South Korea’s entertainment industry. If the allegations are substantiated, the consequences could extend beyond Bang Si-hyuk personally, potentially impacting the operations and global reputation of HYBE—the company behind internationally renowned artists, including BTS.

Another key issue raised during the briefing involved reports about the possibility of Bang Si-hyuk traveling to the United States while under a travel ban. Earlier reports suggested that the U.S. Embassy in Korea may have sent a letter requesting cooperation to allow his visit.

However, Chief Park declined to confirm those details, stating that the Seoul Metropolitan Police Agency has not received any official request so far. “If a request is made by the U.S. Embassy, we will review its appropriateness and proceed in accordance with the law and established principles,” he said.

The question of whether Bang Si-hyuk may be permitted to travel abroad has further intensified public interest, as it directly relates to the seriousness of the case and the restrictions currently imposed on him. In similar situations, individuals under investigation and subject to travel bans are typically only granted exceptions after a strict legal review.

Observers note that the final conclusion of the investigation will play a crucial role in determining the next steps. If resolved with clear findings, the case could become one of the most high-profile legal matters involving South Korea’s entertainment industry in recent years.

Meanwhile, both the public and investors are closely monitoring developments. Given Bang Si-hyuk’s global influence and HYBE’s position in the international market, any outcome is likely to have ripple effects far beyond South Korea.