Seoul: A Seoul court has ordered South Korean video game mogul Kwon Hyuk-bin to pay over $1.5 billion in a divorce settlement, establishing a new record for asset division in the country. This ruling significantly surpasses the previous record of $666 million awarded to Roh Soh-yeong in her divorce from SK Group Chairman Chey Tae-won.According to TRTworld.com, Kwon, who founded Smilegate in 2002, has been instructed to transfer a 35 percent stake in Smilegate, valued at approximately $1.9 billion, and provide $48.8 million in cash to his former wife, identified only by her surname, Lee. Lee initiated divorce proceedings in November 2022, requesting half of Kwon's stake in the gaming company, citing her contributions to its founding and early operations.The Seoul Family Court determined that the marriage had irretrievably broken down, taking into account the persistent conflicts and lack of prospects for reconciliation. While both parties were deemed equally responsible for the marriage's dissolution, the court dismissed Lee's claim for additional damages. Kwon contested the divorce, maintaining that Lee was neither a co-founder nor actively involved in Smilegate's management.The court's decision follows a similar high-profile divorce case involving Chey Tae-won, whose appeal against a $666 million payout to his former wife is currently pending in the Supreme Court. This ongoing legal battle has focused attention on Chey's influence over SK Group amidst the rising value of its chip assets due to the artificial intelligence boom.The recent ruling highlights the complexities of asset division in high-stakes divorces among South Korea's elite, as courts navigate claims related to business contributions and personal responsibilities.
- September 15, 2026
