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Smilegate Founder Loses 35% Of Gaming Empire In $1.91bn Divorce Ruling
The court said the couple’s marriage broke down after years of conflict and rejected Lee’s alimony claim while ordering a record property division.
- On Wednesday, The Seoul Family Court ordered Smilegate founder Kwon Hyuk-bin to pay his wife, identified as Lee, approximately 2.55 trillion won in marital assets, potentially marking the largest property division in a domestic divorce lawsuit.
- Kwon and Lee married in 2001 after he graduated from the Department of Electronic Engineering at Sogang University. The couple began living separately in 2020, and Lee filed for divorce two years later, alleging that Kwon had neglected his family responsibilities.
- Valuing Kwon's holdings in Smilegate at approximately 7.1 trillion won, the court ordered him to transfer 35 percent of his shares in kind as part of the division of marital assets.
- Concluding the marriage had irretrievably broken down due to longstanding conflict, the court granted the divorce while determining both parties bore equal responsibility and rejecting the plaintiff's claim for alimony.
- If the ruling becomes final, Kwon would transfer approximately 2.4 trillion won worth of shares to Lee, potentially establishing a new record for the largest property division in a domestic divorce case.
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On Wednesday 9 September, South Korean justice ordered Kwon Hyuk-bin, founder of Smilegate, to hand over shares and 65 billion won to his ex-wife Lee Hwa-jin, a total of 2,565 billion won (1.3 billion won).
Smilegate Founder Loses 35% Of Gaming Empire In $1.91bn Divorce Ruling
Smilegate founder Kwon Hyuk-bin has been ordered to transfer 35% of his company’s shares and 65 billion won in cash to his wife in South Korea’s biggest publicly known divorce property settlement.
·New Delhi, India
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Coverage Details
Total News Sources15
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 28%
R 43%
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