KWON Hyuk-bin, the founder and current Chief Visionary Officer of Smilegate, a South Korean game company.—AFP
SEOUL: A Seoul court on Wednesday ordered South Korean video game tycoon Kwon Hyuk-bin to pay more than 2 trillion won ($1.5 billion) in a divorce settlement, the largest asset division ever awarded in the country.
The amount surpasses the 944 billion won awarded in the divorce settlement between SK Group Chairman Chey Tae-won — whose business also owns chip giant SK hynix — and his ex-wife, Roh Soh-yeong.
Kwon founded Smilegate in 2002 and has built it into one of the most successful gaming companies in South Korea. The Seoul Family Court granted the divorce and ordered Kwon to transfer a “35-percent stake in Smilegate, worth about 2.5 trillion won, and pay 65 billion won in cash”, the court said.
Kwon’s ex-wife, surnamed Lee, filed for divorce in November 2022, seeking half of his stake in Smilegate Holdings, now Smilegate, according to local media.
