Smilegate founder's divorce suit draws attention to game empire built in silence

A Seoul court on Wednesday ordered Smilegate founder Kwon Hyuk-bin to pay his wife 2.55 trillion won in a divorce settlement. The ruling drew attention because it involved Korea’s largest property division payout and because Smilegate is an unlisted, wholly Kwon-owned game company built around CrossFire. The court said the company’s founding and growth were not solely attributable to Kwon and recognized his wife’s contributions.

The payout includes Kwon’s 35 percent stake in Smilegate, valued at 2.49 trillion won, plus 65 billion won in cash.

The court valued Kwon’s 100 percent stake in Smilegate at 7.1 trillion won using a midpoint between two valuation methods.

Kwon founded Smilegate in 2002 with 50 million won in capital, and his wife initially held 30 percent of the company.

Smilegate’s 2025 sales were 1.44 trillion won and operating profit was 359.8 billion won, according to the article.

CrossFire generated $14.7 billion in cumulative global sales and Smilegate receives more than 500 billion won in annual royalties from publishers, including Tencent.

Published Sep 13, 2026 7:00 am KST

Court finds Kwon's wife contributed 35% to company's growth

Kwon Hyuk-bin, Smilegate's founder and chief vision officer / Courtesy of Smilegate

A Seoul court's ruling Wednesday on the divorce of Kwon Hyuk-bin, Smilegate’s founder and chief vision officer, drew major attention as it involved a record property division payout in Korea — an order for him to pay 2.55 trillion won ($1.91 billion) to his wife.

Despite the record settlement amount and the company's megahit first-person shooter game CrossFire, little is known about Kwon, as he rarely makes public appearances, except for charity events. Smilegate, Korea’s fifth-largest game company by sales, is unlisted and wholly owned by Kwon, often called a game empire built in silence.

Though Kwon maintains absolute control over the company, the court found that Smilegate’s founding and growth were not solely attributable to him. The bulk of the payout order is made up of Kwon’s 35 percent stake in the game company, worth 2.49 trillion won, and 65 billion won in cash, meaning the court recognized his wife’s contributions to building the company’s value.

From ashes to empire

Kwon is regarded as one of the Korean game industry’s early-generation entrepreneurs. Now 52, he graduated from Sogang University in 1999 and started his career by establishing an educational software company that year.

He married his wife, identified by her surname Lee, in 2001 and founded Smilegate the following year with 50 million won in capital. At the time, Kwon owned a 70 percent stake in the company, while Lee held the remaining 30 percent.

In 2004, Kwon developed Smilegate’s first game, Head Shot Online, but failed to release it as publisher Yahoo Korea withdrew from the game business. In 2007, Smilegate launched CrossFire in Korea, but failed to draw domestic gamers’ attention, overshadowed by Nexon’s Sudden Attack.

A promotional image of Smilegate's CrossFire / Courtesy of Smilegate

CrossFire, however, became a massive hit in China. Smilegate signed a publishing deal with Tencent in 2007 and officially launched the game in China the following year. The number of concurrent users reached 2 million in September 2010, earning it a Guinness World Records title for the highest number of concurrent users for an online game, and climbed further to 4.2 million in 2012. In 2013 and 2014, CrossFire was ranked as the world’s highest-grossing online game.

Although CrossFire is approaching its 20th anniversary, it still remains popular, with its CFS esports leagues still active in China, Vietnam and Brazil. The game has generated $14.7 billion in cumulative global sales to date. Smilegate is also known to receive more than 500 billion won in annual royalties from publishers, including Tencent.

Along with CrossFire, Smilegate’s massively multiplayer online role-playing game Lost Ark has also maintained strong popularity over the years. Currently, the Smilegate unit responsible for CrossFire accounts for roughly 50 percent of the group’s sales, while the unit behind Lost Ark accounts for about 30 percent. As of last year, Smilegate’s sales stood at 1.44 trillion won, and operating profit reached 359.8 billion won.

In remarks reported in a 2016 Chosun Biz article, Kwon said, “I went to Shenzhen, China, with the development team and worked like crazy … The six months I spent in China at the time changed the fate of both me and the company.”

Players of BaiSha Gaming celebrate after winning the CrossFire title at Esports World Cup 2026 in Paris, Aug. 22. Courtesy of Smilegate

Thorny property division

The court did not disclose the reason for the collapse of the marriage. Lee filed for divorce, claiming that Kwon was responsible for the breakdown, while Kwon has maintained that he was not at fault and did not want a divorce.

The court dismissed Lee’s claims for damages, which means that both Kwon and Lee were responsible for the breakdown of the marriage, according to the company. As Lee was awarded custody of their children, the court also ordered Kwon to pay her 20 million won per month in child support.

Because Smilegate is an unlisted company, determining the exact value of Kwon’s assets took nearly four years during the trial period.

To assess the value of Smilegate, the court considered both a tax-based valuation formula and the discounted cash flow method, which estimates the present value of a company based on its expected future cash flows. It ultimately took the midpoint of the two estimates, valuing Kwon’s 100 percent stake in Smilegate at 7.1 trillion won.

In determining Lee’s share as 35 percent, the court said it took into account that she initially held a 30 percent stake in the company’s founding capital of 50 million won. It also acknowledged her years of taking care of household duties and child care, and the fact that she was registered as CEO for about four months from the company’s establishment until she stepped down after becoming pregnant with the couple's first child.

According to Smilegate’s shareholder records, Lee’s initial stake was gradually diluted through a series of rights offerings, stake sales and other transactions, falling to 3 percent before it was sold to Tencent in 2010. In 2012, Kwon consolidated that stake and other shares held by outside investors through Smilegate Holdings, bringing his ownership of the company to 100 percent.

Both sides said they would not disclose whether they plan to appeal. Given the size of the property division, however, legal observers expect further disputes over the ruling.

Kwon’s side, which has argued that Lee was neither a co-founder of Smilegate nor involved in its management, could challenge the size of the property division. Lee, who is known to have initially sought half of Kwon’s assets, could also appeal for a larger share and challenge the court’s decision not to award her damages.

首尔一家法院周三裁定，Smilegate创始人权赫彬需向其妻子支付2.55万亿韩元的离婚赔偿金。该判决备受关注，因为它涉及韩国有史以来金额最大的财产分割，而且Smilegate是一家未上市、由权赫彬全资拥有的游戏公司，其核心产品是《穿越火线》（CrossFire）。法院表示，公司的创立和发展并非完全归功于权赫彬，并认可了其妻子的贡献。

此次赔偿包括权志强在 Smilegate 持有的 35% 股份，价值 2.49 万亿韩元，外加 650 亿韩元现金。

法院采用两种估值方法的中点，将权某持有的 Smilegate 100% 股份估值为 7.1 万亿韩元。

权先生于 2002 年创立了 Smilegate，初始资本为 5000 万韩元，他的妻子最初持有该公司 30% 的股份。

文章称，Smilegate 2025年的销售额为1.44万亿韩元，营业利润为3598亿韩元。

CrossFire 累计全球销售额达 147 亿美元，Smilegate 每年从包括腾讯在内的发行商处获得超过 5000 亿韩元的版税。

发布于2026年9月13日 上午7:00（韩国标准时间）

法院认定权某的妻子对公司增长贡献了35%。

Smilegate创始人兼首席愿景官权赫彬/图片由Smilegate提供

首尔一家法院周三对 Smilegate 创始人兼首席愿景官权赫彬的离婚案作出裁决，引起了广泛关注，因为该案涉及韩国创纪录的财产分割赔偿——法院判令他向妻子支付 2.55 万亿韩元（19.1 亿美元）。

尽管达成了创纪录的和解金额，且公司的第一人称射击游戏《穿越火线》大获成功，但人们对权志强知之甚少，他除了参加慈善活动外，很少公开露面。Smilegate是韩国销售额排名第五的游戏公司，未上市，由权志强全资拥有，常被誉为“默默打造的游戏帝国”。

尽管权某对公司拥有绝对控制权，但法院认定Smilegate的创立和发展并非完全归功于他一人。判决赔偿金主要包括权某持有的游戏公司35%的股份（价值2.49万亿韩元）以及650亿韩元的现金，这意味着法院认可了其妻子对公司价值提升所做出的贡献。

从灰烬到帝国

权志强被认为是韩国游戏产业早期创业者之一。现年52岁的他于1999年毕业于西江大学，同年创办了一家教育软件公司，由此开启了他的职业生涯。

他于2001年与妻子（姓李）结婚，并于次年以5000万韩元的资本创立了Smilegate公司。当时，权某持有公司70%的股份，李某持有剩余的30%。

2004年，权志强开发了Smilegate的首款游戏《爆头在线》（Head Shot Online），但由于发行商雅虎韩国退出游戏行业，该游戏未能发行。2007年，Smilegate在韩国推出了《穿越火线》（CrossFire），但由于被Nexon的《突袭》（Sudden Attack）的光芒所掩盖，未能吸引韩国本土玩家的关注。

Smilegate 出品的《穿越火线》宣传图 / 图片由 Smilegate 提供

然而，《穿越火线》在中国却取得了巨大的成功。Smilegate于2007年与腾讯签署发行协议，并于次年在中国正式推出该游戏。2010年9月，《穿越火线》的在线玩家数量达到200万，荣获吉尼斯世界纪录“网络游戏最高同时在线玩家数量”称号，并在2012年进一步攀升至420万。2013年和2014年，《穿越火线》均位列全球收入最高的网络游戏榜首。

尽管《穿越火线》即将迎来20周年，但它依然人气不减，其电竞联赛在中国、越南和巴西等地仍然活跃。该游戏迄今为止的全球累计销售额已达147亿美元。据悉，Smilegate每年从包括腾讯在内的发行商处获得超过5000亿韩元的版税收入。

除了《穿越火线》之外，Smilegate 的大型多人在线角色扮演游戏《失落的方舟》多年来也一直保持着很高的人气。目前，负责《穿越火线》的 Smilegate 工作室约占集团总销售额的 50%，而负责《失落的方舟》的工作室则约占 30%。截至去年，Smilegate 的销售额为 1.44 万亿韩元，营业利润达到 3598 亿韩元。

据《朝鲜商业》2016 年的一篇文章报道，权先生表示：“我当时和研发团队一起去了中国深圳，拼命工作……我在中国度过的这六个月改变了我和公司的命运。”

8月22日，在巴黎举行的2026年电子竞技世界杯上，白沙电竞战队队员在赢得《穿越火线》冠军后庆祝。图片由Smilegate提供

棘手的财产分割

法院并未透露婚姻破裂的原因。李某提出离婚，声称权某应对婚姻破裂负责，而权某则坚称自己没有过错，并且不想离婚。

据该公司称，法院驳回了李某的损害赔偿请求，这意味着权某和李某都对婚姻破裂负有责任。由于李某获得了子女的监护权，法院还责令权某每月支付2000万韩元的子女抚养费。

由于 Smilegate 是一家非上市公司，确定权某资产的确切价值在审判期间花了近四年时间。

为了评估Smilegate的价值，法院同时考虑了基于税收的估值公式和折现现金流法。折现现金流法根据公司预期的未来现金流来估算其现值。最终，法院取了两种估值方法的中点，将权某持有的Smilegate 100%股份估值为7.1万亿韩元。

法院在裁定李女士的持股比例为35%时表示，已考虑到她最初持有公司5000万韩元创始资本的30%股份。法院还认可她多年来承担家务和育儿责任，以及她从公司成立到因怀上与丈夫的第一个孩子而卸任前约四个月的首席执行官职务。

根据 Smilegate 的股东记录，李在镕最初的股份通过一系列配股、股份出售和其他交易逐渐被稀释，在 2010 年出售给腾讯之前，其持股比例降至 3%。2012 年，权志龙通过 Smilegate Holdings 将该股份和其他外部投资者持有的股份整合起来，使其对公司的所有权达到 100%。

双方均表示不会透露是否计划上诉。但鉴于财产分割的规模，法律界人士预计，判决结果可能会引发更多争议。

权某一方辩称李某既非Smilegate的联合创始人，也未参与公司管理，因此可能会对财产分割比例提出异议。李某最初曾要求获得权某一半的资产，她也可能要求获得更多份额，并对法院未判给她赔偿金的裁决提出质疑。