Co-CEO of CoKo Entertainment accused of embezzling funds

Kim Woo Jung, the Co-CEO of CoKo Entertainment, is currently accused of embezzling funds from the company before disappearing.

On December 18th, it was reported that Kim Woo Jung allegedly stole hundreds of thousands of dollars from the company’s fund and ran away. Coko Entertainment is founded by acclaimed comedian, Kim Jun Ho, who is also the CEO alongside Kim Woo Jung.

Kim Woo Jung is also the representative of Jessica’s Kitchen, which is run by CoKo FNB, a branch company of CoKo Entertainment. Jessica Kitchen’s recently suffered from delayed payments of wages, as well as failing to pay the distribution company, which led to Kim Woo Jung filing for bankruptcy.

In regards to the embezzlement of funds, CoKo Entertainment has stated, “We will figure out how much damage we have suffered and what happened internally, before we make an official statement. This matter is very sensitive so we would like to confirm the truth of everything before we make any statements.”

They will try to get a grasp of what exactly happened internally first before filing a report to the police and take legal action. They also said that they will ask the police to place Kim Woo Jong, whose whereabouts are unknown, on the wanted list.

Source: Joongang Ilbo

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