Seoul:The founder of Smilegate, Kwon Hyuk-bin, has filed an appeal against a court decision mandating him to pay his wife 2.55 trillion won (US$1.87 billion) as part of a divorce settlement, his lawyers announced on Monday.
According to Yonhap News Agency, the Seoul Family Court's ruling, issued on September 9, could potentially be the highest property division in the nation's divorce case history. Kwon's legal team stated that he is appealing the decision with hopes of reconciling the marital relationship.
Kwon's wife, Lee, initiated the divorce proceedings in November 2022. The court's decision includes awarding her 35 percent of Smilegate, a company wholly owned by Kwon, as part of the marital asset division. However, Kwon's representatives argue that Lee contributed minimally to these assets.
Kwon, born in 1974, is a graduate of Sogang University's Department of Electronic Engineering. He married Lee in 2001 and founded Smilegate in 2002. He has held prominent roles within the company and its affiliated foundation, becoming the chairman of Smilegate Hope Studio in 2012 and the chief visionary officer of Smilegate Holdings in 2020.
The couple began living apart in 2020, leading to Lee's divorce filing two years later, citing Kwon's alleged neglect of family duties. Lee requested half of Kwon¾¢s shares in Smilegate, asserting she initially held a 30 percent stake. Kwon, however, disputes this, maintaining that he is not responsible for their marital issues and that Lee cannot be deemed a co-founder due to her lack of financial investment and involvement in the company.