Hello, this is JONJAE Law Firm.

Recently, the divorce and property division lawsuit between Smilegate founder Kwon Hyuk-bin, CVO, and his wife Ms. Lee has been drawing great attention inside and outside the legal community. This is not a simple divorce case. From valuation of a non-listed company worth trillions of won, to taxation and corporate succession — it is, quite literally, the “trial of the century,” condensing every issue of family litigation into a single case.

JONJAE Law Firm is participating in this lawsuit as a member of the core team representing the plaintiff. Managing Attorney Yoon Ji-sang is taking the lead as a family law specialist, working with former Chief Judge Jung Hyun-soo and Sungin’s Managing Attorney Yang So-young to do everything possible to protect the client’s rights and interests.

Why this case matters

The core issue in this lawsuit is how to value Smilegate Holdings, a non-listed company.

The court’s valuation, calculated through an external accounting firm appraisal, ranges from a minimum of KRW 4.9 trillion to a maximum of KRW 8.016 trillion. Because it is an unlisted company with no market price, depending on the valuation method, there can be a difference of trillions of won. The scope of application of discounted cash flow (DCF), whether to reflect the value of affiliates, and the standards for valuing intangible assets — all of these become variables that determine the scale of property division.

Although it is outwardly a divorce lawsuit, the reason it is described as a battle over corporate value on an M&A scale is that this is its substance.

Family law, taxation, and assets — why JONJAE is involved

The more complex the case, the more limited the help of piecemeal legal support is. From the court’s perspective, a group of experts is needed that can respond multilaterally to corporate value, tax risks, and asset structures while also grasping the essence of the family dispute.

The fact that the plaintiff assembled a 20-member team of experts in family law, taxation, and corporate succession for this lawsuit is the answer to that need. Chosun Biz described it as a **'star-studded legal team'**.

JONJAE Law Firm’s Managing Attorney Yoon Ji-sang is a former chief judge of the Seoul Family Court and Daejeon Family Court, with experience directly hearing thousands of family cases from the bench. What does the court look at, and which details determine victory or defeat — that perspective is what he uses for the client.

Details determine victory

In property division lawsuits worth trillions of won, the depth of strategy is what makes the difference in the outcome. Even with a single business valuation appraisal, a request for revaluation based on Supreme Court precedents is made, and as a result the opposing side’s assessed amount can be adjusted by hundreds of billions of won.

JONJAE Law Firm, in such high-value asset disputes, operates an organic collaboration system through the Finder-Minder-Grinder system to set the direction of the case, manage detailed issues, and maximize practical responsiveness. Not a single attorney, but a One-Firm Solution in which a dedicated team responds in a multi-dimensional way — that is why JONJAE can play a key role in the largest divorce lawsuit in Korea.

We think beyond the outcome

Litigation is not the end, but a new beginning. JONJAE Law Firm does not stop at the result of victory; it stays with the client until the end so that after the lawsuit they can regain an ordinary daily life and happiness.

No matter how large or small the assets are, the weight of the pain a person experiences in the process of divorce is no different. Sharing that burden together and helping restore a normal life — that is the value JONJAE Law Firm pursues under the legal philosophy of “existence and necessity.”

If you are going through a difficult time due to a family dispute, JONJAE Law Firm will think it through with you.

Source: Chosun Biz