South Korean internet giant Naver announced on Monday that it plans to repurchase and cancel shares worth 400 billion won ($306 million) by the end of the year to counter its falling stock value. This buyback program is in addition to the existing shareholder return policy implemented in 2023, and aims to enhance shareholder value amidst a 15 percent decline in the company's share price over the past year. The repurchase will involve about 2.35 million shares, equivalent to 1.5 percent of the total issued shares, and will be completed by December 31. The funds for this new shareholder return initiative will come from special dividends obtained by A Holdings, a joint venture between Naver and SoftBank. Naver clarified that the special dividends were generated from the sale of LY Corp. shares to comply with the Tokyo Stock Exchange's revised listing requirements. Despite a slight decrease in A Holdings' stake in LY Corp., Naver emphasized that it still maintains control over the company. This move is part of Naver's commitment to maintaining a strong financial position, reinvesting in core areas for growth, and exploring innovative shareholder return strategies in response to evolving market trends.