Key facts
- Kwon Hyuk-bin, founder of Smilegate, ordered to pay 2.55 trillion won ($1.91 billion) in divorce settlement.
- The settlement includes a 35% stake in Smilegate, valued at approximately 7.1 trillion won.
- An additional 65 billion won in cash must be paid.
- This is the largest divorce settlement in South Korean history.
- The court cited the ex-wife's contribution to the company's founding and management.
A South Korean court has ordered Kwon Hyuk-bin, the founder of video game developer Smilegate, to pay 2.55 trillion won ($1.91 billion) in a divorce settlement, potentially setting a new record for the country. The Seoul Family Court ruled that Kwon must transfer 35% of the unlisted company's shares and cash to his wife, citing her contributions to the company's founding and early operations. The court valued Smilegate at 7.1 trillion won. Smilegate is known for titles such as CrossFire and Lost Ark. This settlement significantly surpasses the previous record of 944 billion won ordered for SK Group Chairman Chey Tae-won, though that ruling was later subject to review due to calculation errors.