Kwon Hyuk-bin: Tycoon to pay ex-wife $1.87bn in record South Korea divorce settlement - BBC News

The billion dollar payout marks the largest divorce settlement in the country's history.

Image source, News1Image caption, Kwon Hyuk-bin founded South Korea's third-largest video game company

A South Korean court has ordered gaming tycoon Kwon Hyuk-bin to pay his ex-wife 2.55tr won ($1.87bn; £1.38bn) in assets, marking the largest divorce settlement in the country's history.

Kwon, who founded South Korea's third-largest video game company Smilegate, is one of the country's richest men. Bloomberg puts his net worth at $3bn.

Smilegate was wholly owned by him until Wednesday when a court ruled that a 35% stake, valued at about 2.5tr won, be transferred to his wife Lee Hwa-jin. He was also ordered to pay her an additional 65bn won in cash.

This settlement is more than double the previous record of 944bn won which tech titan Chey Tae-won was ordered to pay his ex-wife.