The Seoul Family Court granted the divorce petition filed by the wife, surnamed Lee, and ordered that the award be paid in shares rather than cash.
"The marriage has broken down to a point beyond repair," the court said, adding that both spouses bore equal responsibility for the collapse.
On that basis it granted the divorce but dismissed Lee's claim for consolation money and instead arranged for her to a direct stake in the privately held firm behind hit titles such as "Lost Ark" and "Epic Seven."
The ruling caps a legal fight that began in November 2022, when Lee sued Kwon roughly two years after the couple separated, accusing him of neglecting the family.
She had sought half of his holdings, arguing that she once held a 30 percent founding stake and served as a registered director while shouldering more than two decades of domestic work.
The court valued Kwon's Smilegate shares at about 7.1 trillion won and set the division at 35 percent.
Kwon, who denied any fault and opposed the divorce, contended that Lee never invested in or worked for the company and could not be considered a co-founder.
The award eclipses the 944 billion won granted in July to Roh Soh-yeong in her divorce from SK Group Chairman Chey Tae-won, itself the country's largest at the time.
The dispute remains before the Supreme Court on appeal over how the sum should be paid.
Born in 1974, Kwon graduated from Sogang University with a degree in electronic engineering, married Lee in 2001 and founded Smilegate the following year.
He became chairman of the affiliated Heemang Studio foundation in 2012 and took the title of chief visionary officer in 2020, the year the couple began living apart.
AJP Takeaways
- A Seoul court ordered Smilegate founder Kwon Hyuk-bin to hand about 2.4 trillion won ($1.8 billion) in company stock to his estranged wife, the largest divorce settlement in South Korean history.
- The court ordered payment in Smilegate shares rather than cash, an unusual remedy that would give Lee a direct stake, though the two sides were found equally at fault and her claim for consolation money was dismissed.
- The judgment is a first-instance ruling and could be appealed, as Kwon disputes that Lee qualifies as a co-founder.
Copyright ⓒ Aju Press All rights reserved.
