On Thursday, October 4, the National Museum of Korea deleted the picture of Bang Si-hyuk and the Museum Director, Yoo Hung-jun, one day after it was posted on Instagram. The post showcased the two parties signing an MOU, otherwise known as a Memorandum of Understanding. The MOU was an agreement on developing a Muse, a combination of museum and goods, based on the connection between Korea's cultural heritage and pop music.However, soon after the post landed on the internet, it received several harsh backlashes from people, given the ongoing unfair trade investigations against the HYBE Labels Chairman, Bang Si-hyuk. Additionally, according to Hankyoreh, a state institution is not allowed to promote any individual who is under fraud charges and a travel ban. Therefore, on October 4, the post made by the National Museum of Korea on Director Yoo Hung-jun and Bang Si-hyuk was deleted.All you need to know about the ongoing investigations against HYBE's Chairman, Bang Si-hyuk, on unfair trade practicesRecently, HYBE Labels' Chairman, Bang Si-hyuk, was taken under investigation following suspicions of his unfair trade practices during the establishment of the entertainment agency. The allegations communicate that during the rebranding of BigHit Entertainment into HYBE, the chairman allegedly misled the investors of the company, stating that they would not be moving forward with a public listing.While this was stated before IPO, the chairman established ties with private equity funds without the knowledge of the investors, resulting in a profit amounting to 400 billion KRW after HYBE's IPO in 2019. These profits were also not included in the official listings of HYBE Label. Since this stands against South Korea's Capital Markets Act, Bang Si-hyuk is being accused of the above-described illegal activities.On the other hand, the chairman has denied the allegations and explained that all the company's listings complied according to all regulations. Regardless, the chairman stated that he would be cooperating with the investigations. According to The Korea Herald, here's what he stated:"While I’ve instead focused on supporting BTS and other Hybe artists and advancing key business opportunities overseas, my continued time abroad has been prolonged. By returning to Korea, it will be easier for me to fully cooperate with the authorities to address these allegations and alleviate any stress or anxiety these events have caused our community. As founder and chairman, I feel a deep sense of responsibility to do everything in my power to ensure nothing takes away from the hard-earned attention and praise your work continues to receive."Following this, Bang Si-hyuk had sat down for interrogations with the police twice. Additionally, as of October 1, MBN reported that the Seoul Metropolitan Police Agency's Financial Crimes Investigation Unit imposed a travel ban on the HYBE chairman on August 11, which has been effective since the time he returned to South Korea.On the other hand, the police have also completed raiding the HYBE headquarters in Yongsan twice and have reported seizing all required evidence for the ongoing investigations. Further proceedings regarding the case are yet to be revealed.