Kwon Hyuk-bin, Chief Vision Officer of Smilegate, appealed on September 28 against a first-instance ruling that ordered him to divide approximately 2.5 trillion won ($2.5 billion) in company shares with his ex-spouse.
Kwon's legal team stated, "We have filed an appeal against the Seoul Family Court's ruling on divorce and asset division." They emphasized their commitment to maintaining the family and continuing efforts to restore the marriage.
Earlier, on September 9, the Seoul Family Court's Division 3, led by Judge Jeong Dong-hyuk, granted the divorce petition filed by Kwon's ex-spouse, identified as Lee, and ordered Kwon to pay Lee 35% of his Smilegate shares and 650 billion won in cash. However, the court dismissed Lee's claim for alimony.
Kwon's team argued that the first-instance ruling excessively reflected circumstances that arose after the lawsuit was filed when assessing the breakdown of the marriage. They expressed difficulty accepting that the blocking of communication and prolonged separation due to the lawsuit were recognized as grounds for divorce.
Additionally, they contested the asset division ruling, asserting that Lee did not contribute capital when the company was established and did not use a separate workspace or participate in actual work at the company.
They claimed that the ruling, which mandated a division of assets that could significantly influence major business decisions without substantial evidence, has increased uncertainty regarding future business operations.
The asset division amount determined in the first instance, totaling 2.55 trillion won, is reported to be the highest in the history of divorce lawsuits in South Korea.
* This article has been translated by AI.
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