South Korean court orders Smilegate founder to pay record 2.55 trillion won in divorce property division

  • Seoul Family Court ordered Kwon Hyuk-bin to divide 2.55 trillion won in assets with Lee.
  • Kwon must transfer 35% of Smilegate shares and pay 65 billion won in cash.
  • The court rejected consolation money and set monthly child support at 20 million won.

Seoul Family Court granted Lee Hwa-jin's divorce petition and ordered Smilegate founder and Chief Vision Officer Kwon Hyuk-bin to provide 2.55 trillion won in property division, the largest such award in South Korean divorce litigation. The ruling requires Kwon to transfer a 35% stake in Smilegate, valued at 2.4867 trillion won, and pay 65 billion won in cash. The court found that Lee contributed directly and indirectly to the company through her early shareholding and long-term household and childcare responsibilities. Kwon would retain a 65% stake, but Lee would become Smilegate's second-largest shareholder if the ruling is finalized. The court rejected Lee's claim for consolation money, finding both parties equally responsible for the irretrievable breakdown of their marriage, and ordered Kwon to pay monthly child support of 20 million won. Kwon's side said it would review the judgment before deciding its response, while Lee's side said it respected the decision.

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