Founder of Smilegate appeals divorce ruling

Kwon Hyuk-bin, the founder and sole owner of video game company Smilegate, has appealed a court decision that ordered him to pay his wife 2.55 trillion won ($1.87 billion) in divorce proceedings, as reported by his lawyers on Monday. The ruling was issued by the Seoul Family Court on September 9, marking what could potentially be the highest property division in South Korea's divorce cases.

Kwon's appeal aimed to explore ways of reestablishing their marital relationship. His wife, identified only as Lee, initiated the divorce lawsuit in November 2022. The court mandated the payout, comprising a 35% stake in Smilegate, to Lee as part of the matrimonial assets division. Despite Kwon controlling the entire company, his legal team contended that Lee's contribution to the marital assets was minimal.

Kwon was born in 1974 and graduated from Sogang University's Department of Electronic Engineering in 1999. He married Lee in 2001 and founded Smilegate the following year. Lee assumed the role of chairman in 2012, serving as the head of Smilegate Hope Studio, a public-interest foundation.