1. NHN’s Shareholder Return Policy: What’s Changing?

From 2026 to 2028, NHN plans to return approximately 15% of its consolidated EBITDA to shareholders. The core components are annual dividend payments exceeding the previous year’s amount and the cancellation of at least 50% of newly acquired treasury shares.

2. Why Announce the Shareholder Return Policy Now?

NHN has recently faced challenges, including declining sales and a net loss. The announcement of the shareholder return policy can be interpreted as a strategy to improve investor sentiment and stabilize stock prices. It can also be seen as a stepping stone to attract investment for securing long-term growth engines.

3. NHN’s Current Business and Future Outlook

  • Games: NHN is expected to secure growth momentum through the performance of its mobile games based on overseas IPs and the release of new titles.
  • Payments and Advertising: NHN is expected to strengthen its competitiveness in the online/offline payment market through the expansion of PAYCO users and the incorporation of NHN KCP.
  • Cloud: The cloud business has high growth potential through expansion in the public and private sectors and the pursuit of new businesses such as AI data centers.
  • Commerce and Webtoons: NHN is expected to seek further growth through business diversification in a growing market environment.

4. Action Plan for Investors

This shareholder return policy can act as a short-term momentum for stock price increases. However, from a long-term investment perspective, it is essential to continuously monitor the growth of NHN’s core businesses and its profitability improvement trend. In particular, attention should be paid to the performance of the games, payments, and cloud businesses, as well as changes in the market’s competitive landscape.