Hwang Jung-eum repays embezzled funds in full, agency says

Actor Hwang Jung-eum / Courtesy of C-JeS Entertainment

Actor Hwang Jung-eum has fully repaid 4.3 billion won ($3.1 million) to her private company after being accused of embezzlement, her agency said Tuesday.

Y.One Entertainment said Hwang used her personal assets to reimburse the total amount she had received from her company, Hunminjeongeum Entertainment, in the form of provisional payments. The repayment was made in two installments, on May 30 and June 5, the agency said.

“As of now, all financial matters between Hwang and Hunminjeongeum Entertainment have been resolved,” the agency said. “As the sole owner of the corporation without professional accounting or tax management knowledge, Hwang deeply regrets the situation and is taking all necessary legal and ethical steps to resolve the matter responsibly.”

Earlier reports revealed that Hwang had withdrawn 700 million won from the company’s funds, allegedly to invest in cryptocurrency. She is accused of embezzling a total of 4.3 billion won.

In a previous statement, Hwang said the funds were technically in the company’s name but had been earned through her personal work, admitting that her decision to use them was a misjudgment. She also said she is now proceeding with the liquidation of the company.

This article from the Hankook Ilbo, a sister publication of The Korea Times, is translated by a generative AI and edited by The Korea Times.