South Korean actress Hwang Jung-eum has received a two-year suspended prison sentence from the Jeju District Court for embezzling approximately $3 million from her entertainment agency to invest in cryptocurrency. The sentence, delivered in September 2025, means she will serve no jail time unless she commits another crime within four years.
According to court reports, Hwang embezzled around 4.34 billion won ($3.1 million) in early 2022, with about 4.2 billion won directly funneled into crypto investments and the remainder used for tax payments. Prosecutors had sought a three-year jail term in August, but judges cited her full repayment of the stolen funds and status as a first-time offender as reasons for leniency.
Hwang admitted to all charges during her trial on May 15, 2025, and repaid the amount in installments by June 5, 2025, after selling personal assets. She expressed remorse, stating, "I was just trying to work hard and live honestly, but I neglected financial and tax matters." The scandal severely impacted her career, leading to her removal from TV shows and advertising campaigns.
The case highlights growing regulatory attention on crypto embezzlement in Asia, with experts like Komodo CTO Kadan Stadelmann noting that South Korea may adopt stricter oversight similar to U.S. standards. Hwang's agency, Hunminjeongeum Entertainment, was solely owned by her, and her legal team argued the funds were from her personal earnings, though held corporately due to restrictions on crypto holdings by companies.