Prosecutors Indict Singer Jang Yoonjung's Mother on Multi-Million Won Investment Fraud Charges

Received Money for Investment But Failed to Deliver Returns
Jang Yoonjung's Side: "No Contact for Over a Decade"

Yook, the mother of singer Jang Yoonjung, who is accused of committing an investment scam worth tens of millions of won, has been indicted and will stand trial while in custody.

Yoonjung Jang. The Asia Business Daily DB

On July 29, the Seoul Eastern District Prosecutors' Office announced that it had detained and formally charged Yook with fraud involving tens of millions of won.

According to prosecutors, Yook is accused of defrauding victims out of tens of millions of won by promising guaranteed principal and profits. She allegedly encouraged acquaintances to invest in trot audition programs, using the name of her daughter, Jang Yoonjung, to promote these investments. Reports have indicated that multiple victims filed complaints, and during the investigation, police uncovered evidence of additional possible victims.

Earlier, police received a complaint in April and launched an investigation, but it was temporarily suspended when they could not verify Yook's phone or credit card activity or any signs of her daily routines. However, after recently locating Yook, police apprehended her and, upon confirming the details of her crimes, determined there was sufficient evidence to support the fraud charges. They subsequently obtained an arrest warrant from the court in mid-July.

Prior to her arrest, it was reported that Yook sent a message to a media reporter describing her financial difficulties and psychological distress. The specifics of Yook's charges and the scale of damage will be addressed during the trial.

On June 30, Jang Yoonjung’s legal team released a statement via JTBC's “Incident Chief” after the case came to light, saying, “She has had no contact with her mother for over a decade, and this is an entirely separate offense for which she bears no responsibility.” In fact, it is reported that Jang Yoonjung has been completely estranged from Yook since 2013.

In May 2013, ahead of her marriage to broadcaster Do Kyungwan, Jang Yoonjung appeared on SBS’s "Healing Camp" and stated, “My parents went through a divorce lawsuit, and while arranging family assets after that, I found out my entire fortune had disappeared.” She revealed that Yook and her younger brother had not only spent all of the earnings she had accumulated during her 10-year career but had also left her with 1 billion won in debt.

Subsequently, Yook and her son held a press conference, at one point alleging that Jang was guilty of drunk driving, and in 2014 even filed a lawsuit against Jang’s management agency, claiming entitlement to the money earned by Jang. At that time, the court ruled, “Even though Yook managed Jang’s funds, she did not have ownership over them,” siding with the agency. Jang also won a partial victory in a separate lawsuit seeking the return of money from her brother.

Separately, Yook was indicted on fraud charges between 2015 and 2017, having borrowed money from acquaintances and not repaid them, resulting in a total of 400 million won in damages. She was sentenced to prison in 2018.

This content was produced with the assistance of AI translation services.