Actress Hwang Jung Eum received a suspended prison term after being sentenced for stealing around ₩4.2 billion KRW (around $3 million USD) from her own private agency, Hunminjeongeum Entertainment.
According to AllKpop, on September 25, the Jeju District Court's Criminal Division 2, headed by Chief Judge Lim Jae Nam, handed down a two-year suspended prison sentence to Hwang for breaking the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).
Illustrating its rationale, the court ruled: "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."
Prosecutors disclosed that between the first quarter of 2022 and October of that year, Hwang withdrew agency funds 13 times.
That involved borrowing an ₩800 million KRW ($560,000 USD) loan in the company's name and depositing ₩700 million KRW ($490,000 USD) into her own account covered up as a temporary business transaction.
Most of the funds were said to have been invested in cryptocurrency. Smaller funds were also spent on settling a ₩4.44 million KRW ($3,100 USD) credit card bill and a ₩1 million KRW ($700 USD) loan interest settlement.
In her first court appearance, Hwang pleaded guilty to all of the charges. She paid back the embezzled funds in full in two installments on May 30 and June 5, 2024.
Her defense team presented itself to the court in closing arguments. "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," her lawyer argued.
After the ruling by the court, Hwang issued a public apology, as reported by MBC News. "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."
The case has evoked strong public interest, not only because of Hwang's fame but also owing to the intensifying scrutiny over financial mismanagement in the entertainment circle.
