Cheil Worldwide will cancel all 13,762,500 treasury shares it currently holds, representing approximately 12% of its total issued shares and valued at around ₩280 billion, or about $206.2 million. The cancellation is scheduled for Oct. 15. The company’s board, which approved the shareholder-return plan on the 30th, also authorized the purchase and cancellation of an additional ₩140 billion of treasury shares within the next year. Cheil Worldwide will initially buy ₩40 billion through market purchases from Oct. 1 to Dec. 30 of this year, while the timing and method for the remaining ₩100 billion will be determined later.