Smilegate founder ordered to give wife $1.8 bil. in divorce settlement
A Seoul court granted a divorce sought by the wife of Smilegate founder Kwon Hyuk-bin, ordering him to transfer shares and cash worth an estimated 2.55 trillion won ($1.8 billion) to her in one of Korea's largest divorce settlements. The Seoul Family Court on Wednesday granted the divorce petition filed by Kwon's wife, identified by her surname Lee. However, the court rejected her claim for…
A Seoul court has ordered Smilegate founder Kwon Hyuk-bin to transfer shares and cash worth approximately 2.55 trillion won, or $1.8 billion, to his wife in one of Korea's largest divorce settlements. The Seoul Family Court granted the divorce petition filed by Kwon's wife, Lee, but denied her request for damages. The court divided the marital assets 35 percent for Lee and 65 percent for Kwon.
Kwon is required to transfer 35 percent of his shareholdings, valued at around 7.10 trillion won in total, and pay Lee an additional 65 billion won in cash, leading to a settlement value of approximately 2.55 trillion won. The court determined that the marriage had irreparably broken down due to prolonged conflicts, intensifying disputes, and the impossibility of restoring their relationship, concluding that both parties were equally responsible for the marriage's dissolution.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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