Economy
Record-Breaking Divorce Settlement for Smilegate Founder
A South Korean court has ordered Smilegate founder Kwon Hyuk-bin to pay 62 billion baht to his ex-wife, marking the largest divorce settlement in the country's history.
According to a report by Khaosod Online citing BBC, a South Korean court has issued a landmark ruling in the divorce case of Kwon Hyuk-bin, the founder of the major gaming company Smilegate. The court ordered Kwon to transfer 35% of his Smilegate shares, valued at approximately 2.5 trillion won, to his ex-wife, Lee Hwa-jin. Additionally, he is required to pay 65 billion won in cash, bringing the total value of the settlement to roughly 62 billion baht (2.55 trillion won).
This ruling represents the highest divorce asset division in South Korean history. Bloomberg estimates Kwon’s total net worth at approximately 99 billion baht. The court-mandated transfer of shares will necessitate a significant restructuring of the company’s ownership, as Kwon was previously the sole shareholder.
For residents and expatriates in Thailand, this case highlights the massive scale of corporate and personal wealth within the regional gaming industry. While this legal development is specific to South Korea, it underscores the potential for major shifts in corporate governance and shareholding structures within global tech firms. It remains to be confirmed how this change in ownership will impact Smilegate’s future operations, strategic direction, or its presence in international markets, including any potential influence on its regional business activities.
