The band's maknae (baby of the group) was reportedly driving through Hannam in the Yongsan distract when he hit a taxi.
Neither the taxi driver or Jungkook sustained any serious injuries, but they were taken to hospital and treated for minor bruises.
Record label Big Hit Entertainment said in a statement via Metro: "The police have not closed this case yet, so we cannot reveal the exact details, but Jungkook was driving his car last week when he had a minor collision with another vehicle due to his own mistake."
They added: "Jungkook admitted that he violated the road Traffic Act immediately after the accident. The scene of the accident was resolved and police questioning was completed according to the due process, and an amicable settlement was made with the victim afterwards.
"We once again apologise to the victim, and we also express apologies for causing concern to fans."
BTS won two major awards at the MTV Europe Music Awards on Sunday 3 November, including Best Live Act.
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