South Korean police have sought an arrest warrant for Bang Si-hyuk, the founder of K-pop company Hybe. The charges stem from alleged fraudulent stock trading, marking a legal issue that extends into South Korea's political alliances.

South Korean police have moved to detain Bang Si-hyuk, the founder of K-pop giant Hybe – the entertainment company behind groups including BTS – in a case that has spilled beyond finance and into the politics of Seoul’s uneasy alliance with Washington. The Seoul Metropolitan Police Agency said it had requested an arrest warrant for Bang through the Seoul Southern District Prosecutors’ Office, citing alleged fraudulent stock trading in violation of the Capital Markets Act. The case took on a...