Hwang Jung-eum, the K-Drama actress and former pop star, has been handed a suspended sentence after being found guilty of embezzling 4.34 billion won ($3.2 million) from her own entertainment company to fund personal cryptocurrency investments.
The Jeju District Court sentenced Hwang to two years in prison, suspended for four years, citing her full repayment of the funds and her first-time offender status.
During the trial, it was revealed that Hwang transferred company money from Hunminjeongeum Entertainment, a one-person agency she wholly owned, into her personal accounts on 13 separate occasions in 2022.
The transactions, disguised as temporary advances after securing loans in the company’s name, were mostly invested in virtual currency.
Prosecutors noted that she also used some of the funds for personal expenses, including credit card bills and property taxes.
Hwang’s legal team confirmed that the embezzled amount was fully repaid in two instalments in May and June this year.
Hwang broke down in tears after the ruling, apologising to reporters outside the courtroom:
“I am sorry for all the problems that I have caused. I have never even been near a police station before. So I cried when I heard the court ruling.”
Her lawyer added,
“We respect the court’s decision.”
The court highlighted that the damage, though significant due to speculative investments, was limited to her one-person company.
Chief Judge Lim Jae-nam of the Criminal Division 2 explained that while the crime was serious, the suspended sentence reflected Hwang’s admission of guilt, full repayment of funds, and lack of previous offences.
The prosecution had initially sought a three-year prison term, but the court noted that “the damages were only limited to the defendant” and took into account her prompt restitution.
Hwang rose to fame as a member of the girl group Sugar before establishing herself on television, starring in shows including High Kick Through The Roof, Kill Me, Heal Me (2015), and The Escape of the Seven (2023–2024).
Amid the trial, she also finalised her divorce after nine years of marriage and is raising her two sons independently.
She stated during the proceedings,
“I was encouraged to invest in coins because I wanted to grow the company, and I misguidedly used corporate funds.”
The case has drawn attention for the way celebrity-owned businesses manage company finances, especially when personal investments are involved.
Hwang expressed regret over her actions, saying,
“I deeply regret causing controversy due to a lack of proper tax and accounting knowledge as the owner of a one-person corporation and not a professional manager.”
Her sentencing has closed the chapter on this legal matter, though it continues to spark discussion on personal accountability, corporate governance, and the risks of speculative investments within privately-owned agencies.
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