Smilegate founder Kwon Hyuk-bin appeals court order to surrender shares and cash to ex-wife

A Seoul Family Court decision on September 9 mandated that Smilegate founder Kwon Hyuk-bin transfer 35% of his company shares, estimated at about 2.49 trillion won, and 65 billion won in cash to his wife, Lee, who filed for divorce in 2022 after more than twenty years of marriage. Kwon, who serves as chief visionary officer, has appealed the ruling, asserting that the court improperly considered the couple’s separation and lack of communication as proof of marital breakdown.

His legal team also disputes the assessment of Lee’s contribution to his wealth, noting she provided no capital, workspace, or labor to the business. They warn the order could create uncertainty for Smilegate’s future operations. The appeal will ask a higher court to reconsider the asset split.