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2 clusters · 15 sources · 21 days · First seen · Last updated

Smilegate founder divorce settlement dispute

Overview

A Seoul Family Court ordered Kwon Hyuk-bin, the founder of video game company Smilegate, to pay a record-breaking divorce settlement of approximately 2.55 trillion won ($1.87 billion) to his ex-wife, Lee Hwa-jin.

The ruling requires Kwon to transfer a 35% stake in Smilegate to Lee and pay an additional 65 billion won in cash. The court noted that while Kwon provided primary business leadership, Lee contributed through her involvement in the company’s early stages and her role in household and childcare duties.

Kwon has since appealed the decision. His legal team disputes the court’s assessment of his spouse’s contribution to the assets, arguing she provided no capital, had no dedicated workspace, and performed no official duties. The appeal also contests the finding that the marriage had broken down. If the original ruling is upheld, the change in shareholding structure could impact Smilegate’s corporate governance, as a 35% stake would necessitate Kwon seeking agreement with his former spouse for major decisions requiring special resolutions.

Entities

Smilegate · Kwon Hyuk-bin · Seoul Family Court · Smilegate Holdings · Lee

Timeline

  1. [BUSINESS] 3 sources
    Smilegate founder Kwon Hyuk-bin appeals 2.55 trillion KRW divorce ruling

    Smilegate founder Kwon Hyuk-bin has appealed a record 2.55 trillion KRW asset division ruling in his divorce case, contesting his ex-spouse's contribution to the company's wealth.

  2. [BUSINESS] 15 sources
    Smilegate founder ordered to pay record $1.87bn divorce settlement

    South Korean court orders Smilegate founder Kwon Hyuk-bin to pay ex-wife Lee Hwa-jin a record $1.87 billion in a divorce settlement, including a 35% stake in the gaming company.

Sources

albiladpress.com · biz.heraldcorp.com · blitzquotidiano.it · ca.sports.yahoo.com · hani.co.kr · jnilbo.com · jutarnji.hr · kahawatungu.com · leral.net · lesinguliersete.fr · mbn.mk.co.kr · newstomato.com · prv.mk · sisajournal.com · womennews.co.kr