NHN Decides to Acquire Treasury Shares Worth a Record 30 Billion KRW

[Asia Economy Reporter Seungjin Lee] NHN has embarked on enhancing shareholder value through the repurchase of its own shares.

On the 20th, NHN announced that it will purchase a total of 1.1 million shares, amounting to 30 billion KRW based on the previous day's closing price. The acquisition is scheduled to begin on the 21st through on-market purchases.

This share repurchase represents the largest amount in NHN's history in terms of monetary value among all its previous buybacks.

Following the 11.8 billion KRW repurchase in May, NHN has actively demonstrated its commitment to boosting its stock price by acquiring a total of 41.8 billion KRW worth of shares this year alone. The shares to be acquired this time will be held without plans for disposal within six months, in accordance with NHN's shareholder return policy.

Jung Woo-jin, CEO of NHN, stated, "NHN will continuously establish shareholder return policies that allow us to share the company's performance with our shareholders, and we plan to communicate and share these policies with sincerity. We will build an ESG management system at the highest level in the IT industry by enhancing shareholder value and establishing exemplary governance."

Meanwhile, NHN has acquired treasury shares worth a total of 86.9 billion KRW from 2018 through last year. In December of last year, it decided on a bonus issue of one new common share per one existing share, resulting in a treasury share cancellation effect equivalent to 4.3%, continuing its recent proactive shareholder-friendly initiatives.

This content was produced with the assistance of AI translation services.