Smilegate founder ordered to give wife $1.8 bil. in divorce settlement

A Seoul court has granted a divorce to the wife of Smilegate founder Kwon Hyuk-bin, ordering him to transfer shares and cash worth an estimated $1.8 billion to her. This is one of Korea's largest divorce settlements, with the court dividing marital assets at 35 percent for the wife, Lee, and 65 percent for Kwon. The divorce settlement is significant for markets as it involves a large transfer of wealth, which could potentially impact the value of Smilegate's shares.

Why it matters

The divorce settlement of Smilegate founder Kwon Hyuk-bin is a significant wealth transfer in Korea. This may have some impact on the local business landscape, but it is unlikely to affect global markets.

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MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to The Korea Times. For information only — not financial advice.