Overview

• Hwang Jung-eum admitted in court to embezzling 4.3 billion won ($3 million) from her agency, Y.One Entertainment, which she fully owns.
• She invested approximately 4.2 billion won of the embezzled funds in cryptocurrency, citing intentions to grow the agency despite legal restrictions on corporate crypto holdings.
• Hwang is charged under South Korea’s Act on the Aggravated Punishment of Specific Economic Crimes, which imposes severe penalties for large-scale embezzlement.
• The court approved a delay in proceedings to allow Hwang to repay the funds, partially through cryptocurrency sales and planned property liquidations.
• Following the first hearing, Hwang issued a public apology and outlined her repayment plan, with the next court hearing scheduled for August 2025.