Photo: Kwon Hyeok-bin. Credit: Sisa Journal.
Condolences and congratulations to SK Group chairman Choi Tae-won 최태원, who in July set the record for the most expensive divorce in South Korean history (KRW 944b, or USD 701m) only to lose it on September 9, when the Seoul Family Court 서울가정법원 ordered video game company Smilegate 스마일게이트 founder Kwon Hyeok-bin 권혁빈 to pay his ex-wife KRW 2.55t (USD 1.9b) in stocks and cash.
Smilegate is the developer behind Crossfire, at one point the world’s most popular first-person shooter. The court ruled that Kwon’s wife’s contributions as a co-founder entitled her to 35% of the company. Unlike Choi’s divorce settlement, which required Choi to pay his ex-wife in cash, Kwon was ordered to pay in company stock because Smilegate is not publicly traded and the transfer of shares would not affect control of the company.
