The Jeju District Court has sentenced actress Hwang Jung Eum to a suspended prison term after she was found guilty of embezzling approximately 4.2 billion KRW (about 3 million USD) from her management agency.
On September 25, the Criminal Division 2 of the Jeju District Court, presided over by Chief Judge Lim Jae Nam, delivered its ruling, sentencing Hwang to two years in prison with a four-year suspension for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).
In its decision, the court stated: “The defendant has repaid the full amount of the embezzled funds and has no prior criminal history. These factors were considered in determining the sentence.”
Hwang was indicted in 2022 on charges of embezzling company funds from Hunminjeongeum Entertainment, a private entertainment agency wholly owned by her and in which she is the sole artist.
Prosecutors established that Hwang withdrew corporate funds on several occasions, including a 800 million KRW (about 560,000 USD) loan obtained under the agency’s name and 700 million KRW (about 490,000 USD) transferred into her personal account under the guise of a temporary payment. These sums were used primarily for cryptocurrency transactions. Between early 2022 and October of the same year, Hwang misappropriated corporate assets 13 times, totaling approximately 4.2 billion KRW (about 3 million USD). Portions of the embezzled funds were also used to pay a 4.44 million KRW (about 3,100 USD) credit card bill and 1 million KRW (about 700 USD) in loan interest.
At the initial hearing, Hwang admitted to all charges. The embezzled funds were fully repaid in two installments on May 30 and June 5, 2024. During closing arguments, her legal counsel stated:“The defendant invested in cryptocurrency with the intention of expanding the company. However, due to insufficient understanding of accounting procedures, she mistakenly believed that repayment would resolve the issue. This was a lapse in judgment rather than deliberate malfeasance.”
Following the verdict, Hwang expressed remorse to the press, saying: “While focusing on my work, I failed to properly manage financial and accounting matters. I am deeply regretful and will continue to reflect on my actions.”
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