About a year ago, BTS announced that they would temporarily suspend their activities as a group. To the shock of their fans, the stock market also saw a significant drop in the stock price of BTS’s affiliate, Hive. Several Hive employees sold their shares in advance to avoid losses and were later handed over to prosecutors.
Reporter Kim Jiyoon.
On the afternoon of June 14 last year, the fan club먹튀검증 “Ami” was shocked by a video posted on BTS’s YouTube channel.
[Jungkook/BTS member: We personally have our own time now and have a lot of good times… and there will definitely be a day when we grow to the next level and come back before you…]
In the video, BTS announced that they would be taking a hiatus from group activities for the first time in the nine years since their debut.
Hive shareholders were shocked, too.
BTS is a key artist that accounts for over 60% of Hive’s revenue.
On the news of the hiatus, Hive’s stock price plummeted 25% in a single day.
However, an investigation by the Financial Supervisory Service revealed that three of Hive’s idol employees had sold their shares just before the video was released.
They avoided a total loss of 230 million won.
The Financial Supervisory Service charged them with using undisclosed information and handed them over to prosecutors for prosecution.
The KFTC also pointed out that Hive’s method of disclosing the suspension was problematic.
Instead of making a public announcement, the company posted a video on social media to confuse investors.
In response, Hive said that the video was intended to communicate that it was focusing on individual activities, not the suspension of the organization, and that it would fully cooperate with the investigation.