SK Chairman Accepts $524.3 Mil. in Property Division in Divorce Case
Chey’s lawyers seek to limit the appeal to disputed SK Group shares and calculation errors after accepting 700 billion won of the award.
- On Wednesday, the Seoul Family Court ordered Smilegate founder Kwon Hyuk-bin to pay 2.55 trillion won in a divorce settlement, setting a record for the largest publicly known property division in South Korea.
- The court ordered Kwon to transfer 35 percent of his Smilegate shares and 65 billion won in cash to his wife, citing her contributions to the company's early management and development.
- This settlement surpasses the previous record involving SK Group Chairman Chey Tae-won and Art Center Nabi Director Roh Soh-yeong, whose complex property division case remains ongoing.
- On August 31, Chey filed to accept a 700 billion won portion of a previous high court ruling, while continuing to contest the remaining 244 billion won in the legal battle.
- Because the rulings are first-instance judgments, the ultimate impact on Smilegate's ownership remains uncertain; both cases remain subject to further appeals.
29 Articles
29 Articles
A Seoul court has ordered a record-breaking division of assets in the divorce case of the founder of Smilegate. Kwon Hyuk-bin must hand over 2.5 trillion won worth of stocks and cash to his ex-wife, Bloomberg reports. That’s nearly 563 billion forints worth of assets at current exchange rates and surpasses any previous South Korean divorce settlement. We’ll be covering similar topics at our Portfolio Investment Day conference on October 21. One …
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.
The Independent
Billionaire businessman to fight £134 million payout in ‘divorce of the century’
SK Group Chairman Chey Tae-won and Roh Soh-yeong married in 1988 and have three children
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