Actor Hwang Jung-eum (41) faced trial for allegedly embezzling funds from a family-owned corporation to invest in virtual currency.
According to the legal community on the 15th, the Jeju District Court's Criminal Division 2 (Director General Lim Jae-nam) held the first hearing for Hwang, who was indicted on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.
Hwang is accused of embezzling approximately 4.34 billion won from the agency where she owns 100% of the equity around 2022. It was determined that she invested 4.2 billion won of this amount in virtual currency.
Hwang's attorney noted, "The defendant invested in coins with the thinking of trying to grow the company, and the company could not hold coins, which led to the crime as she temporarily did so under her name."
Hwang also said through her agency Y One Entertainment, "I am sorry for causing concern with this embarrassing matter," and added, "In a situation where I wanted to try to grow the company, I was advised around 2021 by people around me to increase the company funds through coin investments, leading me to jump into coin investments that I did not know well."
She explained, "Although it was money in the company's name, it was revenue generated from my activities, so I think I made a poor judgment. I did incur losses from coin investments, but thankfully, there were no other creditors apart from the bank where I have collateral secured and I hold 100% equity in the company, which means I have not harmed any third party."
He emphasized, "In order to correct the wrong transactional relationship with the company, I am currently affiliated with another agency and am cleaning up the transactional relationship with the company. I have disposed of personal assets to repay a significant portion of the funds withdrawn from the company in the form of advance payments, and I am in the process of settling some unpaid debts."