Smilegate founder's divorce suit draws attention to game empire built in silence
A Seoul court's ruling Wednesday on the divorce of Kwon Hyuk-bin, Smilegate’s founder and chief vision officer, drew major attention as it involved a record property division payout in Korea — an order for him to pay 2.55 trillion won ($1.91 billion) to his wife. Despite the record settlement amount and the company's megahit first-person shooter game CrossFire, little is known about Kwon, as he…
A Seoul court's decision on the divorce of Smilegate's founder and chief vision officer, Kwon Hyuk-bin, has garnered considerable attention in South Korea. The court ruled that Kwon must pay his wife 2.55 trillion won ($1.91 billion) in a record property division payout. Despite the immense settlement amount, little is known about Kwon, as he is rarely seen in public, with his only appearances being at charity events.
Smilegate, South Korea's fifth-largest game company by sales, is unlisted and wholly owned by Kwon. The company, often described as a "game empire built in silence," has gained significant success, particularly with its first-person shooter game CrossFire. However, the court found that Kwon's founding and growth of Smilegate were not solely his doing.
The court's decision allocated Kwon's 35 percent stake in Smilegate, valued at 2.49 trillion won, and an additional 65 billion won in cash, to his wife. This recognition of his wife's contributions to building the company's value highlights the collaborative efforts that went into Smilegate's success. Kwon, now 52 years old, has been hailed as one of the Korean game industry's early-generation entrepreneurs.
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.
