HYBE Forced To Edit Its Corporate Disclosure To State Bang Si Hyuk Bought An LA Mansion For $26 Million From HYBE’s Subsidary
HYBE has edited its corporate disclosure due to Bang Si Hyuk’s recent purchase!
The chairman of HYBE had purchased a luxurious mansion in Los Angeles, USA, worth hundreds of billions of Korean won [millions of dollars] through a personal real estate company in which he holds 100% of the shares, the company is a subsidiary of HYBE.
According to the Financial Supervisory Service’s electronic disclosure system on the 29th of July, Chairman Bang reported owning a company named ‘BEL AIR STRADELLA, LLC’ through the large corporate group disclosure of HYBE.
This company is based in the USA and is engaged in the real estate industry. Chairman Bang holds 100% of the shares in this company, and had used the company’s funds to purchase the mansion.
HYBE explained, “The disclosure obligation arose due to the large corporate group designation, and it was simply an administrative oversight that was corrected through this disclosure.”
According to a report last year by the American real estate media outlet Dirt, Chairman Bang purchased the luxury mansion located on Bel Air Stradella Road in Los Angeles for $26.4 million (approximately 36.5 billion won).
It is reported that Chairman Bang bought the mansion under the name of the real estate company. The name ‘Bel Air Stradella’ also refers to the location of the mansion.
Some Korean media alleges Chairman Bang acquired the mansion for the purpose of music production and expanding the local music network.
Source: (A)
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