Home > Business > Industry

Advertisers cut ties with actor Hwang Jung-eum over crypto scandal

Published: 16 May. 2025, 12:54

SHIN MIN-HEE
[email protected]

Actor Hwang Jung-eum [YONHAP]

Advertisers have begun cutting ties with actor Hwang Jung-eum after she admitted to embezzling funds from her own company to invest in cryptocurrency on Thursday.

As of Friday, ad posters and videos of Hwang for Daesang Wellife Nucare have been deleted from the nutrition drink brand’s official social media channels. It’s been less than a week since the advertisements first appeared on Monday.

The brand also took down a comment event as part of the ad campaign, citing “changes in internal schedules.”

According to local reports, SBS Plus said it is “waiting for a response from the agency” regarding its variety show “Because I’m Solo” (2024-), which Hwang hosts. The channel said it would decide on whether to edit Hwang out of episodes to air in the future, “depending on the statement.”

Hwang apologized on Thursday evening for making a “hasty and immature decision” after admitting to all charges of embezzlement, specifically, taking 4.3 billion won ($3 million) in company funds from her family-owned agency — not her current agency Y.One Entertainment — in 2022 and using a majority of the money to invest in cryptocurrency.

Hwang explained that she “owned 100 percent of the company and that no other celebrities were ever signed to it.” Her lawyer added that she is repaying the losses.

BY SHIN MIN-HEE [[email protected]]