Will HYBEBang Chairman Si Hyuk become the ”boss”? ”Assets of over 550 billion yen” - on the verge of being designated a large company

HYBE, the management company for the group BTS, is on the verge of becoming the first Korean entertainment company to be designated a large corporate group (a corporate group subject to public disclosure).
According to a business report released by HYBE in March, the company's total assets will be 5.3457 trillion won (US$5.887 billion) and total liabilities will be 2.2358 trillion won (US$2.462 billion) as of December 2023.
The Fair Trade Commission (FTC) has set a fair trade ratio of 1.2 trillion won (approximately 1.2 trillion won) for assets, which is the sum of the total assets of the general affiliates of large business groups and the total capital of financial affiliates.
Companies with assets exceeding 5 trillion won (550 billion yen) are designated as large business groups (business groups subject to disclosure). If HYBE is designated as a large business group, various regulations, including disclosure obligations and prohibitions on fraudulent private gain, will be imposed.
The company's largest shareholder, Chairman Bang Si Hyuk, who holds a 31.57% stake and is also the founder, is expected to be designated as the company's president (the same person).
The designation as a large corporate group is scheduled to be finalized on the 1st of next month.