A family court in South Korea has mandated that video‑game magnate Kwon Hyuk-bin hand over assets worth 2.55 trillion won (about $1.87 billion) to his ex‑spouse, Lee Hwa‑jin, establishing a new record for divorce settlements in the country.
Kwon, the founder of Smilegate – the third‑largest game developer in South Korea known for titles such as CrossFire and Lost Ark – was ordered to transfer a 35% share of the company, valued at roughly 2.5 trillion won, and to pay an additional 65 billion won in cash, according to court documents. Bloomberg estimates his personal fortune at around $3 billion.
Lee, who married Kwon in 2001, a year before Smilegate was launched, argued that she helped finance the start‑up and spent more than two decades raising their children and managing the household. Smilegate’s spokesperson declined to comment on the personal matter, reiterating that the firm’s initial capital was provided solely by Kwon.
The settlement more than doubles the previous benchmark set by SK Group chairman Chey Tae‑won, whose 944 billion won award was later overturned by the Supreme Court over a miscalculation. The new ruling underscores the growing financial stakes involved in high‑profile divorces within South Korea’s tech elite.
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Category: Lifestyle
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