Hwang Jung Eum faced her first trial on May 15, 2025, related to charges of embezzling company funds to invest in cryptocurrency.
Presided over by Judge Lim Jae Nam of the Jeju District Court, the hearing involved allegations that the actress embezzled approximately 4.34 billion KRW (about 3.1 million USD) from her management agency, which she owns completely through a family corporation. This includes 700 million KRW (about 520,000 USD) taken as an advance payment in early 2022, allegedly funneled into cryptocurrency investments.
Despite owning 100% of the agency, Hwang’s structure as a family corporation means she is legally required to treat the company as a separate entity. Misuse of company funds for personal expenses like cryptocurrency investments is viewed as a breach of fiduciary duty in South Korea, leading to serious legal repercussions.
During the trial, Hwang’s legal team acknowledged the charges, which prompted widespread shock among Korean netizens regarding the scale of the embezzlement. Many expressed disbelief and concern, commenting on the risks associated with investing in cryptocurrency.
“Seriously, investing company funds into crypto these days makes it seem like fraud,” remarked a concerned user.
With public scrutiny growing, the scandal has raised questions about Hwang’s financial decisions, particularly in light of the severe penalties linked to corporate fiduciary violations.
