South Korea's high-profile divorce battles: Smilegate founder's case could reshape settlements

The divorce proceedings involving Kwon Hyuk-bin, the founder of gaming giant Smilegate, are entering their final stages, with significant attention on the valuation of his unlisted shares. This dispute could set a new precedent for divorce settlements within South Korea's corporate elite.

The core of the legal battle lies in determining the worth of Smilegate's unlisted stock. Depending on the valuation method, the total assets could range from 4 trillion to 8 trillion won. This discrepancy directly impacts the scope of spousal contributions recognized by the court, which in turn will dictate the final division of assets.

Legal observers suggest that the resolution of this case might reshape how divorce settlements are handled in high-profile business divorces. The case is being closely watched for its potential to influence future legal battles involving wealthy individuals and their spouses' claims on company assets.