Top Actress Admits To Embezzling Over 3 Million From Her Own Agency
On May 15, the Jeju District Court’s 2nd Criminal Division held the first hearing in the embezzlement case involving actress Hwang Jung Eum. According to the prosecution, Hwang allegedly embezzled approximately ₩4.34 billion KRW (about $3.08 million USD) of company funds between early 2022 and December of the same year.
The indictment states that she received [krw]700 million[/krw[ from a company loan under the guise of an advance payment and invested the amount in cryptocurrency. In total, about [krw]4.2 billion[/krw] of the embezzled funds were funneled into crypto investments.
The affected company is a family-run agency in which Hwang holds 100% ownership. Despite the fact that the funds belonged to the company, Hwang made the investments in her own name, reportedly because corporate entities are unable to directly hold cryptocurrency assets.
During the trial, Hwang’s legal representatives admitted to the charges, but claimed that she had simply wanted the grow the company.
“There is no dispute regarding the facts of the indictment. However, the defendant’s actions stemmed from a desire to grow the company. Since the corporation couldn’t hold cryptocurrency, she temporarily invested under her own name, which unfortunately led to this situation.”
Her lawyer continued to request leniency, arguing that she had already sold some of the cryptocurrency to repay the damages.
“She has already sold some of the cryptocurrency to repay a portion of the damages and is planning to liquidate real estate to cover the remaining amount.”
Hwang’s legal team requested a continuance to facilitate the restitution process, which the court granted. Further proceedings will be scheduled accordingly.
Hwang Jung Eum is a well-known South Korean actress and singer, recognized for her versatility and strong screen presence in both television dramas and variety shows. She first gained popularity as a member of the girl group Sugar before transitioning into acting, where she rose to fame with hit dramas like High Kick Through the Roof, and She Was Pretty.
