Smilegate Founder Ordered to Give Wife $1.8 Bil. in Divorce Settlement
The court rejected Lee’s damages claim and said both parties were equally responsible for the marriage breakdown.
- On Wednesday, The Seoul Family Court granted a divorce to Smilegate founder Kwon Hyuk-bin and his wife, Lee, ordering him to transfer assets worth an estimated $1.8 billion in one of Korea's largest divorce settlements.
- The court set the division of marital assets at 35 percent for Lee and 65 percent for Kwon, citing her early contributions as a director and CEO alongside her role managing household duties and child-rearing.
- Under the ruling, Kwon must transfer 35 percent of his shareholdings valued at about 7.10 trillion won, with shares worth approximately 2.49 trillion won included; the court noted this transfer would not risk his control over Smilegate.
- Kwon was ordered to pay 65 billion won in cash and 20 million won monthly in child support, while Lee was granted parental rights over their minor child.
- Finding both parties equally responsible for prolonged conflicts, the court concluded the marriage had broken down beyond repair, rejecting Lee's claim for additional damages.
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In the course of divorce proceedings, Kwon Hyuk-bin, founder of Smilegate, is sentenced to pay a record sum to his ex-wife.
Smilegate founder ordered to give wife $1.8 bil. in divorce settlement
A Seoul court granted a divorce sought by the wife of Smilegate founder Kwon Hyuk-bin, ordering him to transfer shares and cash worth an estimated 2.55 trillion won ($1.8 billion) to her in one of Korea's largest divorce settlements. The Seoul Family Court on Wednesday granted the divorce petition filed by Kwon's wife, identified by her surname Lee. However, the court rejected her claim for damages. Instead, the court set the division of marital…
Kwon Hyuk-bin, the Chief Vision Officer (CVO) and founder of the Korean game company Smilegate, and his spouse, Ms. Lee, have divorced. The court included the Smilegate shares held by Founder Kwon in the division of assets and recognized Ms. Lee's contribution as 35%. Accordingly,
The ruling in the first trial of the divorce lawsuit between Smilegate founder Kwon Hyuk-bin and his spouse, Ms. Lee, is scheduled for the 9th. With the amount of property division potentially reaching 8 trillion won due to the spouse's demand for share division, attention is focused on whether the all-time record will be broken, while Founder Kwon wishes to maintain the marital relationship.
(Seoul = Yonhap News) Reporter Lee Seung-yeon = The first trial of the divorce lawsuit involving Kwon Hyuk-bin, founder of the domestic game company Smilegate, Chief Vision Officer (CVO), and Chairman of Hope Studio...
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