Hwang Jung-eum Embezzles 4.2 Billion Won for Cryptocurrency Investment…"To Grow the Company"

It has been revealed that actress Hwang Jung-eum embezzled approximately 4.2 billion won from the funds of her agency to invest in cryptocurrency.

On the 14th, at the Jeju District Court's 2nd Criminal Division (Presiding Judge Lim Jae-nam), Hwang Jung-eum, who is charged with violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement), admitted to the charges.

Hwang Jung-eum is accused of embezzling a total of 4.34 billion won by receiving 700 million won as an advance payment from the funds borrowed by her agency and investing in cryptocurrency until December 2022. The agency is known to be a family corporation wholly owned by Hwang Jung-eum.

Hwang Jung-eum's lawyer admitted to the charges but stated, "The investment in cryptocurrency was intended to grow the company, and since the corporation could not directly hold coins, it was temporarily invested under her name, leading to this incident."

The lawyer further explained, "Most of the agency's profits are generated through the defendant's entertainment activities, which essentially accrue to the defendant. Some of the losses have been compensated by selling the coins, and the remaining amount will be repaid by disposing of the real estate owned," appealing for consideration of the motive behind the crime.

Hwang Jung-eum's side requested a continuation for compensation of the damages, which the court reportedly accepted.

Hwang Jung-eum's agency stated that they are "checking" regarding the incident.

Kim Ye-rang, Hankyung.com reporter yesrang@hankyung.com