The South Korean prosecution seeks to sentence actress Hwang Jung-eum to 3 years in prison for "misappropriating 4.2 billion won of public funds to invest in Crypto Assets."

On August 22, according to the Korea Herald, the South Korean prosecution is seeking a three-year prison sentence for actress Hwang Jung-eum, who has been indicted for allegedly misappropriating company funds amounting to 4.3 billion won (approximately 3.07 million dollars) and investing in Virtual Money. The Jeju District Prosecutors' Office requested the court to impose a three-year sentence on the indicted actress Hwang Jung-eum for violating the Specific Economic Crimes Aggravated Punishment Act (misappropriation) during a public trial held at the Jeju District Court's Second Criminal Division (Chief Judge Lim Jae-nam) on the 21st. Previous reports indicated that on June 17, South Korean actress Hwang Jung-eum was indicted for allegedly misappropriating approximately 4.2 billion won (about 3.07 million dollars) to invest in Virtual Money. Her management company Y1 Entertainment stated on June 17 that Hwang Jung-eum had fully repaid all debts in two installments on May 30 and June 5. Earlier, Hwang Jung-eum had withdrawn a total of 4.34 billion won from Hunmin Jeong-eum Entertainment in 2022, most of which was used for encryption investment, and the case involves violations of the provisions regarding the misappropriation of funds under the Specific Economic Crimes Aggravated Punishment Act, which is currently undergoing judicial proceedings.