SEOUL, May 16 -- South Korean actress Hwang Jung-eum is facing serious legal heat after admitting in court to taking 4.3 billion won (RM12.9 million) from her own talent agency and pouring most of it into cryptocurrency - a move her lawyer claims was meant to benefit the company.

Korea JoongAng Daily reported that at the first hearing held Thursday at Jeju District Court, the 39-year-old Hwang stood trial on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

"There is no dispute over the facts of the case," her lawyer said, confirming that Hwang had indeed withdrawn the funds from Y.One Entertainment, the agency she owns outright and which manages 30 actors including herself.

Of the amount t...