Amid suspicions that actress Hwang Jung Eum, who is currently on probation for embezzlement of 4.3 billion won, is still operating the company in question as an unregistered one-person agency, her former agency has cut ties with her.
On January 8, Hwang Jung Eum’s former agency, Y1 Entertainment, issued a press release stating, “On November 27 of last year, our company notified actress Hwang Jung Eum of the termination of her exclusive contract. This notification was accepted, and the exclusive contract between both parties has already been terminated.”
Suspicions have been raised that Hwang Jung Eum was still operating an unregistered one-person agency company, which had been involved in the controversy of embezzlement of 4.3 billion won. In response to the subsequent flood of inquiries, Y1 Entertainment announced the termination of Hwang Jung Eum’s exclusive contract.
Under the current Culture and Arts Industry Development Act, any corporation that manages earnings from entertainment activities or undertakes appearance contracts and management must be registered as an agency.
In this context, controversy arose involving various singers and actors who established separate one-person agencies outside of their signed agencies. Singers Ock Joo Hyun and Sung Shi Kyung, as well as actors Lee Ha Nee and Yoo Ah In, issued official statements and completed their corporate registrations. However, suspicions have arisen that Hwang Jung Eum has not fulfilled this requirement.
Hwang was brought to trial last year on charges of withdrawing 4.34 billion won from the funds of the one-person agency company over the course of about a year starting in 2022 and using approximately 4.2 billion won of it for cryptocurrency investments and personal credit card payments. As a result, she was sentenced to two years in prison with four years of probation. Nevertheless, operating the one-person agency without proper registration has once again sparked controversy.
Below is the official statement from Y1Entertainment:
Hello, this is Y1Entertainment.
We are issuing our official position regarding the recent news related to actress Hwang Jung Eum.
On November 27 of last year, our company notified actress Hwang Jung Eum of the termination of her exclusive contract. This notification was accepted, and the exclusive contract between both parties has already been terminated.
Accordingly, our company clearly states that we have no involvement or responsibility whatsoever with regard to Hwang Jung Eum’s current or future activities, personal matters, or any related issues. Furthermore, we will not make any additional statements or take any further actions regarding this matter in the future.
Thank you.
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