Actress Hwang Jung-eum (40) is facing a backlash in the advertising industry due to her involvement in a multi-billion won embezzlement case. On the afternoon of the 15th, Daesang Wellife New Care removed advertisements and posters featuring Hwang from YouTube, Instagram, and Naver Blog, just three days after they were released on the 12th.
On this day, Hwang admitted to charges of violating laws related to aggravated punishment for specific economic crimes (embezzlement) and issued an apology. Through her management company, she stated, “I am sorry for causing concern to many people with this shameful incident.” She explained, “I have been operating an entertainment agency for my entertainment activities. This agency is a company in which I hold a 100% stake, and no other entertainers were affiliated with it. All profits were derived from my activities.”
She continued, “I wanted to grow the company, and in 2021, I was encouraged by someone around me to invest in cryptocurrency to increase company funds. As a result, I entered cryptocurrency investment without sufficient knowledge, which seems to have been a hasty decision since the funds were under the company’s name but earned through my work.”
Hwang further clarified, “Although I suffered losses from the cryptocurrency investments, I possess 100% of the company’s shares, have no other affiliated entertainers, and there are no other creditors except for banks that have secured collateral, so fortunately, no third parties were harmed. I am currently affiliated with another agency and am cleaning up transactions with the previous company. I have repaid a significant portion of the misappropriated funds by liquidating personal assets, and I am in the process of settling the remaining unpaid amounts.”
Despite this, Hwang has kept the New Care advertising poster on her Instagram, sparking outrage among netizens, who question why she filmed ads despite acknowledging her embezzlement charges and being on trial.
Hwang received seven billion won out of the loaned funds from her agency and invested it in cryptocurrency in early 2022. She has been indicted without detention on charges of embezzling over 4.34 billion won by the end of 2022.
Meanwhile, Hwang Jung-eum debuted as a member of the group Sugar in 2001, gained popularity through the MBC variety show “We Got Married,” and established her career as an actress through various works such as “High Kick Through the Roof,” “Giant,” and “Kill Me, Heal Me.”