Hwang Jung Eum has been indicted on charges of embezzling company funds and investing them in cryptocurrency.
Her agency, Y.ONE Entertainment, informed Newsen on May 15th that they will issue an official statement after verifying the facts.
News1 reported today that Judge Lim Jae Nam of the 2nd Criminal Division of the Jeju District Court presided over the first trial in the case involving Hwang Jung Eum, who has been charged without detention for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).
The report indicates that Hwang received 700 million won (approximately $500,000) from company funds in early 2022. The money was originally obtained through a corporate loan as accrued expenses, but she reportedly used it to invest in cryptocurrency. Between then and December 2022, she allegedly embezzled a total of approximately 4.34 billion won ($3.1 million) in company funds, with 4.2 billion won ($3.1 million) reportedly invested in crypto.
The company in question is a family-owned corporation fully owned by Hwang Jung Eum and has no affiliation with her current agency, Y.ONE Entertainment.
Hwang’s legal representative acknowledged the charges, stating, “She invested in cryptocurrency with the intent to grow the company.” They added, “She has already sold some of the coins to repay part of the losses and intends to sell real estate to repay the rest. We ask the court to take this into consideration.”
Hwang Jung Eum is currently featured on the SBS Plus and E Channel reality show Because I’m Solo (literal translation), where she shares her life as a single mother raising two children following her divorce.
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