NewJeans

HYBE -- the company that manages BTS and other major K-Pop acts -- has been raided as part of an insider trading investigation ... according to reports out of South Korea.

The Korea Times reported early Thursday the Seoul Southern District Prosecutors' Office searched the company's office in central Seoul.

A HYBE executive's reportedly been accused of gaining profits of 240 million won -- South Korean currency worth about $175K -- by using insider information to profit on the stock market.

Katy Perry knows how to wow an audience with her songs ... but now she's doing it with her thong.

On Wednesday night, the singer hit the 2024 Billboard Women In Music Awards in Los Angeles – posing for pap pics in a crimson dress and corset, both of which were laced up in the back, and which completely left her ass exposed.

Katy swung around to show her rear end, making sure everyone got a good look. As you can see, but her G-string was in full view -- and she wasn't shy about it.

Katy didn't seem to mind at all and, of course, neither did the photogs. She even flashed a grin, winked and stuck out her tongue. Indeed, it's very 2010s KP.

After several minutes, Katy walked off, heading inside the YouTube Theater to enjoy the event with other notable artists, such as Ice Spice, Victoria Monét and Ellie Goulding. Even though Katy was hard to beat ... the other ladies looked good too.

Other attendees included Karol G -- honored as Woman of the Year -- as well as Charli XCX, Maren Morris, NewJeans, Tems and Young Miko. Traci Ellis Ross hosted the awards show.

It's the most wonderful time to show off Christmas spirit, and K-pop idols always understand the assignment -- with the biggest names in the industry putting their love for the holidays on display every year!!

Chae-won of LE SSERAFIM is always one of the first stars to post up in front of the tree when December rolls around ... with Lisa of BLACKPINK following suit with a cozy ensemble.

RM from BTS and Jackson Wang usually take a more model-esque route during the holidays ... electing for serious snaps whenever they enjoy the festivities.

NewJeans and aespa love to team up for group shots during X-mas ... just like Jennie, Jisoo, Lisa and Rosé, who rocked iconic, matching Santa 'fits in years past.

And Blinks won't have to ask for much from St. Nick this year ... after the die-hard fanbase got their wish of keeping the group together following lengthy contract negotiations with YG Entertainment.

Minnie from (G)I-dle spends her special time with her loved ones ... including her bestie, Lisa, and fellow groupmate, Yuqi.

TWICE members Jeongyeon and Jihyo also teamed up for an iconic Christmas photoshoot this year ... and IVE's Yujin is all about the winter activities, too!!

Per usual, the members of Stray Kids take advantage of the holidays ... with Felix, Lee Know and Hyunjin always proving they're on the "nice" list -- even if they do have a song titled "Christmas EveL."