Archive · 8 Sep 2026
South Korean Gaming Billionaire Awaits Divorce Verdict Over Smilegate
Kwon Hyuk-bin founded a large South Korean game company called Smilegate.
He and his wife, Lee Hwa-jin, are going through a divorce case.
A court is expected to announce its decision on Wednesday.
Lee reportedly wants part of Kwon’s ownership in the company.
That share could be worth trillions of won.
Lee says she helped start and manage the company.
Smilegate says Kwon supplied all the original money.
The court must decide about the divorce and how the company’s value should be divided.
A South Korean court is expected to issue a divorce verdict Wednesday involving Smilegate founder Kwon Hyuk-bin and Lee Hwa-jin.
Lee is reportedly seeking half of Kwon’s 100% stake in Smilegate, potentially involving about 4 trillion won.
Lee’s representatives say she helped finance Smilegate’s founding and held a 30% stake, while Smilegate says Kwon provided all initial capital.
Kwon has reportedly argued that he does not want to end the marriage, so the court must first decide whether to grant the divorce.
The case could affect control of Smilegate and hinges on Lee’s contribution and the value of its unlisted shares.
- Who
- Smilegate founder Kwon Hyuk-bin and his wife, Lee Hwa-jin, are involved in the case.
- What
- A court will issue a divorce verdict and may later determine how assets, including Smilegate shares, should be divided.
- When
- The verdict is expected Wednesday.
- Where
- The case is being heard in South Korea; the specific court is not identified in the article.
- Why
- The dispute concerns whether to grant the divorce, Lee’s contribution to the marriage and company, and the value of Smilegate’s unlisted shares.
Lee Hwa-jin’s position
Kwon Hyuk-bin and Smilegate’s position
Contribution to Smilegate
Lee Hwa-jin’s position
Lee’s side says she helped finance Smilegate at its founding, participated in early management, held a 30% stake, and served as chief executive and later a registered director.
Kwon Hyuk-bin and Smilegate’s position
Smilegate says all initial capital came from Kwon and says Lee did not work at the office or have a desk at the company.
Whether the marriage should end
Lee Hwa-jin’s position
Lee has filed for divorce and is seeking a division of assets, according to reports.
Kwon Hyuk-bin and Smilegate’s position
Kwon has maintained in court that he does not want to end the marriage, according to local media reports.
Value and division of assets
Lee Hwa-jin’s position
Lee is reportedly seeking half of Kwon’s stake, with the claim potentially involving about 4 trillion won based on the appraisal.
Kwon Hyuk-bin and Smilegate’s position
The final division depends on the court’s assessment of Lee’s contribution and the value assigned to Smilegate’s unlisted shares.
- Company
- Smilegate Inc., founded by Kwon Hyuk-bin, is behind Crossfire and Lost Ark.
- Kwon’s estimated fortune
- About $3 billion, according to the Bloomberg Billionaires Index.
- Potential asset value
- A court-ordered appraisal valued Kwon’s assets at as much as 8 trillion won.
- Reported claim
- Lee Hwa-jin is reportedly seeking half of Kwon’s 100% stake in Smilegate.
- Potential division
- The reported claim could imply an asset division of about 4 trillion won.
- Company structure
- Kwon’s wealth is tied to unlisted Smilegate shares whose value must be appraised.
- Proceedings
- The divorce case is closed, and the parties’ filings and appraisal report are not publicly available.