Hwang Jung-eum Apologizes for Misusing Company Funds
May 16, 2025
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On the 15th, Hwang Jung-eum said through her agency, Y1 Entertainment "I'm sorry to have caused a lot of people to worry about something embarrassing."It was an inexperienced judgment that jumped into investing in coins that I didn't know well.", he apologized.
Hwang Jung-eum explained that the agency "established for my entertainment activities, a company that I own 100% stake in "There have never been any other celebrities, and all profits come from my activities."
As for the reason for investing in virtual currency with company funds, he said, "I want to grow the company." Around 2021, people around me were encouraged to raise company funds through coin investment, and I started investing in coins that I didn't know well.'
Even though it was in the name of the company, I think I made an immature judgment because it was a profit made from my activities," he said, reflecting on himself.
At the same time, "Although I lost money due to the coin investment, I think it is fortunate that I did not cause any damage to a third party because I held 100% of the company's shares, had no other celebrities, and had no other creditors other than banks that secured collateral."
In order to correct the wrong business relationship with the above company, I am currently in another agency and organizing the business relationship with the above company"We have repaid a significant portion of the funds withdrawn from the company in the form of provisional payments by disposing of our personal assets, and are in the process of liquidating some of the outstanding payments."
Hwang Jung-eum was indicted without detention in early 2022 on charges of embezzling 4.34 billion won in company money by December of that year, including investing 700 million won in virtual currency in the name of provisional payments from his agency. The damaged agency is a private corporation in which Hwang Jung-eum owns a 100% stake. The prosecution found that Hwang Jeong-eum invested 4.2 billion won in virtual currency out of a total of 4.34 billion won embezzled by the company.
Hwang Jung-eum also admitted all of the charges at the trial. At a hearing held at the Jeju District Court's Criminal Department 2 (Chief Judge Lim Jae-nam) on the 15th, Hwang Jung-eum's lawyer said, `As the corporation cannot directly hold virtual currency, it has temporarily invested in the defendant's personal name.' `As most of the agency's profits were generated from the defendant's activities, there are no actual victims.'
Next is Hwang Jung-eum's entrance full text.
Hello, I'm Hwang Jung-eum.
First of all, I'm sorry to have caused so many people's concern with the shameful thing.
I have established and operated an entertainment agency for my entertainment activities. This entertainment company is a company that I have a 100% stake in, and there have never been any other celebrities other than me, and all the profits are from my activities. When I wanted to grow the above company, around 2021, I was encouraged by people around me to raise the company's funds through coin investment, and I started investing in coins that I didn't know well. It was a fund in the name of the company, but I think I made an inexperienced judgment because it was a profit made from my activities.
Although I lost money due to the coin investment, I think it is fortunate that I have 100% of the company's shares, no other celebrities, and no other creditors other than banks that secure collateral.
To correct the wrong business relationship with the above company, I am currently putting myself in another agency and organizing the business relationship with the above company. We have repaid a large portion of the funds withdrawn from the company in the form of provisional payments by disposing of personal assets, and we are in the process of liquidating some of the unpaid payments.
Once again, I'm sorry, and I'll do all the necessary responsibilities.
Thank you.
rightlight@sportschosun.com
