Three-Year Prison Sentence Sought for Hwang Jungum Over 4.3 Billion Won Company Fund Embezzlement for Virtual Asset Investment

"Deeply Regretful," Appeals for Leniency

Hwang Jungum is leaving the court after being sentenced to three years in prison during the sentencing hearing on the 21st. Photo by Yonhap News

Prosecutors have requested a three-year prison sentence for actress Hwang Jungum (40) in the sentencing hearing for the embezzlement of 4.3 billion won in company funds.

On August 21, the Jeju District Prosecutors' Office asked the court to sentence Hwang Jungum to three years in prison for violating the Act on the Aggravated Punishment of Specific Economic Crimes during a trial held at the 2nd Criminal Division of the Jeju District Court, presided over by Chief Judge Lim Jaenam.

According to prosecutors, Hwang Jungum, who owns 100% of the shares in her family company "Hunminjeongeum Entertainment," took out a loan of 800 million won in July 2022. Between then and October of the same year, she transferred approximately 4.2 billion won out of 4.36 billion won in company funds to her personal account in 13 separate transactions to invest in virtual assets.

During this process, it was found that she also used company funds to pay for personal expenses, including 4.44 million won in property and local taxes paid by credit card and 1 million won in interest on a stock-secured loan.

At her first trial in May, Hwang Jungum admitted to all charges. At that time, she repaid about 3 billion won, and subsequently, by selling personal assets, she repaid the full amount of damages in two installments on May 30 and June 5, submitting related documents to the court.

Her defense attorney appealed for leniency, stating, "The defendant was not familiar with accounting procedures and invested in cryptocurrency with the intention of growing the company. Please consider the fact that the full amount has been repaid and her motive for the crime."

In her final statement, Hwang Jungum said, "I was so focused on working hard that I neglected accounting and taxes, which led to this situation. I am deeply remorseful."

The sentencing hearing is scheduled for 10 a.m. on the 25th of next month.