South Korean content platform SOOP (067160.KQ) will cancel 306,375 treasury shares, equivalent to approximately 2.7% of its outstanding stock, with a book value of about 18.9 billion won ($13.6 million). The board approved the measure on September 4, the company disclosed it on September 7, and the cancellation is scheduled for September 10. Because the shares were acquired within the limits of distributable profit, the move will reduce the number of outstanding shares without changing paid-in capital. SOOP said the decision is intended to enhance shareholder value and strengthen shareholder returns. Senior executives bought company shares on the open market in June, while SOOP said in its second-quarter earnings announcement that it would set out specific plans for using treasury stock within the year. The cancellation forms part of those plans. SOOP also plans to pay cash dividends equal to at least 25% of consolidated net profit over the next three years. The company aims to combine shareholder returns with investment in future growth, a stronger streamer and user ecosystem, and improvements to its service competitiveness and earnings structure. The reduction in shares can improve earnings per share if net income is unchanged, although its short-term effect on the stock price may be limited. Since rebranding from AfreecaTV, SOOP has pursued platform diversification through digital content commerce and global service expansion.