Hwang Jung-eum Settles Misappropriation Allegations

Actress Hwang Jung-eum (40) has announced that she has fully repaid the funds from her family-owned corporation, Hunminjeongeum Entertainment, which she was accused of misappropriating. On June 17, her agency, Y1 Entertainment, stated, "Hwang Jung-eum has settled all amounts used as advances from Hunminjeongeum Entertainment by liquidating her personal assets. The repayments were made in two installments on May 30 and June 5, resolving all financial relations between Hwang Jung-eum and the company." The agency added that Hwang Jung-eum deeply regrets the situation, acknowledging her lack of adequate tax and accounting knowledge as the owner of a one-person corporation. She is committed to fulfilling all necessary legal and ethical obligations to resolve the matter promptly. Hwang Jung-eum expressed sincere apologies for the distress caused and pledged to adopt a more careful and responsible approach in the future, seeking professional assistance for even minor details.

In 2022, Hwang Jung-eum was indicted for allegedly embezzling approximately 4.34 billion KRW from Hunminjeongeum Entertainment, a company in which she holds 100% ownership. It was reported that around 4.2 billion KRW of the misappropriated funds were invested in cryptocurrency. The first trial session took place on May 15 at the Jeju District Court, where Hwang Jung-eum acknowledged all charges against her. Her lawyer explained that the investment in cryptocurrency was made with the intention of growing the company, and due to legal restrictions on corporate ownership of cryptocurrencies, the transactions were temporarily conducted under her name. The lawyer also noted that the profits from the agency ultimately benefit Hwang Jung-eum's activities. They requested leniency, stating that some of the losses have been repaid through the sale of cryptocurrencies, and plans are in place to sell remaining real estate to cover the rest. A second court hearing for Hwang Jung-eum is scheduled for August.