Smilegate Founder Ordered to Pay Record Divorce Settlement

A Seoul court has ordered Smilegate founder Kwon Hyuk-bin to transfer 35% of his shares in the gaming company and pay 65 billion won in cash to his ex-wife, Lee Hwa Jin, in a record-breaking divorce settlement valued at approximately 2.55 trillion won. The ruling, issued by the Seoul Family Court, marks the largest divorce settlement in South Korea's history, surpassing the previous record by more than double. Lee had sought a 50% stake in Smilegate, arguing that she contributed to the company's founding and early management, and supported Kwon indirectly through more than two decades of domestic work and childcare. The court acknowledged her contributions, stating that Lee should be recognized for her direct and indirect support to the company, particularly given her responsibility for household and childcare duties over a long period. The court also granted Lee parental rights over the couple's minor child and ordered Kwon to pay 20 million won monthly in child support. Kwon, who founded Smilegate in 2002 and built it into a major gaming enterprise known for the hit game Crossfire, had argued that Lee invested no capital and did not work for the company.