In light of the fact that the presence of the ${Z}^{0}$ penguin diagram suppresses strongly $\frac{{\ensuremath{\epsilon}}_{2\ensuremath{\pi}}^{\ensuremath{'}}}{\ensuremath{\epsilon}}$ in ${K}^{0}\ensuremath{\rightarrow}2\ensuremath{\pi}$ decay for large values of ${m}_{t}$, we reanalyze the direct decay-amplitude $\mathrm{CP}$ violation in ${K}^{0}\ensuremath{\rightarrow}3\ensuremath{\pi}$ decays in the Kobayashi-Maskawa model. The effects due to electroweak penguins, isospin breaking, and higher-order weak chiral Lagrangians are studied in the large-${N}_{c}$ approach. We find that the Li-Wolfenstein relation between ${\ensuremath{\epsilon}}_{3\ensuremath{\pi}}^{\ensuremath{'}}$ and ${\ensuremath{\epsilon}}_{2\ensuremath{\pi}}^{\ensuremath{'}}$ is modified dramatically: the former receives very large contributions from the higher-derivative chiral terms and sizable contributions from the isospin-breaking correction due to ${\ensuremath{\pi}}^{0}\ensuremath{-}\ensuremath{\eta}\ensuremath{-}{\ensuremath{\eta}}^{\ensuremath{'}}$ mixing and $\ensuremath{\eta}$, ${\ensuremath{\eta}}^{\ensuremath{'}}\ensuremath{\rightarrow}3\ensuremath{\pi}$ transitions. When the top quark becomes very heavy, effects of the electroweak penguin terms are enhanced. Unlike $\frac{{\ensuremath{\epsilon}}_{2\ensuremath{\pi}}^{\ensuremath{'}}}{\ensuremath{\epsilon}}$, which decreases as ${m}_{t}$ increases, the $\mathrm{CP}$-violating parameter $\frac{{\ensuremath{\epsilon}}_{3\ensuremath{\pi}}^{\ensuremath{'}}}{\ensuremath{\epsilon}}$ is of order ${10}^{\ensuremath{-}2}$ and increases with the heavy top-quark mass.
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