South Korean court orders game tycoon to pay $1.5bn in record divorce settlement

On September 4, 2026, a Seoul Family Court ordered Kwon Hyuk-bin, founder and Chief Visionary Officer of South Korean game company Smilegate, to pay over 2 trillion won (approximately $1.5 billion) in divorce settlement to his ex-wife Lee - the largest asset division ever awarded in South Korea's history. The ruling requires him to transfer a 35% stake in Smilegate, valued at about 2.5 trillion won, and pay 65 billion won in cash.

Kwon founded Smilegate in 2002 and built it into one of Korea's most successful gaming companies, known globally for the CrossFire franchise. His ex-wife filed for divorce in November 2022, seeking half of his Smilegate stake, arguing she contributed to the company's founding and early management. While the court rejected her claim for damages, it found the marriage 'broken down beyond repair' after years of conflict.

This case surpasses the previous record divorce settlement involving SK Group Chairman Chey Tae-won (ordered to pay $666 million) and highlights how South Korean courts are valuing major tech companies in marital asset divisions. Smilegate's implied total valuation of ~7.1 trillion won ($5.3 billion) based on the 35% stake underscores the massive wealth possible in the global gaming industry.

If you were building a tech business with global reach, how would you approach asset ownership and marital agreements to protect both your innovation and family interests?

SOURCE: https://www.channelstv.com/2026/09/09/south-korea-video-game-tycoon-to-pay-record-1-5bn-in-divorce/