A South Korean court has ordered billionaire video game tycoon Kwon Hyuk-bin to pay more than 2 trillion won, or about $1.5 billion, in a divorce settlement, the country’s largest ever divorce settlement.

The Seoul Family Court granted Kwon a divorce and ordered him to transfer 35 percent of his gaming company Smilegate, worth about 2.5 trillion won, and 65 billion won in cash to his ex-wife.

Taking the family name of Cowan’s ex-wife, they filed for divorce in November 2022.

He had demanded half of Koon’s shares, citing his role in founding and early management of SmileGate, as well as indirect support through household responsibilities.

According to the court, after examining the long-standing differences between the couple and the prospects for reconciliation, it has concluded that the marriage has irretrievably broken down.

The court declared that both parties are equally responsible for the dissolution of the marriage, but the ex-wife’s demand for damages was rejected.

According to local media, Cowan had maintained that my ex-wife was neither a co-founder of SmileGate nor involved in the management of the company, Cowan was also reportedly opposed to divorce.

According to local media, the court valued Kwon’s assets at around 8 trillion won.

The previous divorce settlement between SK Group chairman Choi Tae-won and his ex-wife Ro Soo-yong was 944 billion won, but Kwon Hyuk-bin’s current settlement is much higher and has become the largest divorce settlement ever in South Korea.