Report: Suspected Collusive Relationship Between HYBE and Korean Sport & Olympic Committee
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Initial reports claiming that HYBE donated 5,000 lightsticks free of charge to the 2024 Paris Olympics turned out to be inaccurate. According to National Assembly audit documents, HYBE actually sponsored only 3,000 units, while the remaining 2,000 were purchased by the Korean Sport & Olympic Committee at 22,000 KRW per unit, totaling 44 million KRW.
The Korean Sport & Olympic Committee then sold these purchased lightsticks in Paris at 30 euros (approximately 44,500 KRW)—more than double the purchase price. However, due to the high price, only 708 out of 2,000 units were sold. The remaining 1,202 units were distributed for free on-site, sparking controversy as some people paid for the lightsticks while others received them for free.
In response, the Korean Sport & Olympic Committee explained that they referenced domestic K-pop lightstick prices. However, Rep. Lee Ki-heon raised suspicions, questioning whether this was “a business venture exploiting Olympic demand, or an attempt to protect HYBE’s domestic merchandise pricing despite poor sales.” Criticism emerged that the Korean Sport & Olympic Committee, a public organization, participated in media play with unclear business purposes and wasted its budget.