Woori Investment Securities acquired 497,649 shares of Webzen’s treasury stock through an overtimeblock trade transaction on July 6, 2007. This amount is equal to 3.83% of the total outstanding shares,
and Webzen’s remaining treasury stock balance after this sale is 261,700 shares (2%).
Through this deal, Webzen has obtained a friendly long-term partner and will be able to achieve sustainable growth through the launch of its new games under stable management.
Webzen stated that this deal will help improve its short-term cash flow and will positively affect it’s financial structure. Woori Investment Securities stated that the investment decision was based on Webzen’s growth potential and that it will provide continuous support and cooperation so that Webzen obtains long-term growth.
Webzen’s next blockbuster game Huxley is scheduled to begin close beta testing in September of 2007
