Smilegate Founder Ordered to Pay Record 2.55 Trillion Won in Divorce Settlement
3 sources across 2 countries · South Korea · Brazil · 1 of them is linked to a state
Who reported this
- Yonhap
- The Korea Herald
- Folha de S.Paulo
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
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A Seoul court on Wednesday ordered Kwon Hyuk-bin, the founder of the gaming company Smilegate, to pay his wife a record 2.55 trillion won (approximately US$ 1.9 billion) in a divorce settlement. The Seoul Family Court granted the divorce and ordered Kwon to transfer a 35 percent stake in Smilegate, valued at roughly 2.4 to 2.5 trillion won, in kind. Additionally, he must pay 65 billion won in cash. If upheld, this would be the largest property division ever granted in a South Korean divorce, surpassing a previous record of 944 billion won involving the chairman of SK Group.
Kwon founded Smilegate in 2002, and the company is known for titles such as Crossfire and Lost Ark. His wife, identified by her surname Lee, filed for divorce in November 2022. Lee argued that she contributed to the company's early growth and management, claiming she held a 30 percent stake in the early years and served as CEO and a registered director. She also cited her contributions through domestic work and raising children. Kwon opposed the divorce and argued that Lee was not a co-founder and did not invest in or work for the company.
The court concluded that the marriage had broken down beyond repair due to prolonged conflict. It ruled that both parties bore equal responsibility for the end of the marriage, which led the court to grant the divorce while rejecting Lee's claim for alimony or damages. Neither party has immediately stated whether they will appeal the decision, and Smilegate has not yet commented.
How each side framed it
- Centre
- The center-leaning coverage focused on the financial scale of the settlement and the broader context of high-profile corporate divorces in South Korea.
- Centre-right
- The center-right framing emphasized the potential shift in company management and the specific professional roles claimed by the wife during the company's early years.
Sources
- Centre Folha de S.Paulo: Video game tycoon will have to pay R$ 8 billion in record divorce settlement, court decides
- Centre-right The Korea Herald: Smilegate founder ordered to make Korea’s largest-ever divorce payout
- Centre Yonhap: Court orders Smilegate founder to pay wife record 2.55 tln won in divorce
100% of the statements in this article were traced back to the source articles listed above.