The share cancellation signals a direct return to shareholders as the Korean tech company seeks to narrow its valuation discount to global peers.
Naver plans to cancel 1 trillion won worth of treasury stock, reducing the number of shares outstanding and returning value directly to shareholders. The move is also framed as an effort by the Korean tech company to address its persistent valuation discount relative to global peers, a common concern when companies use buybacks and cancellations to improve capital efficiency and support per-share metrics.