Mgame will cancel all treasury shares it has already acquired to enhance shareholder value. The company disclosed it will cancel 430,000 shares bought on the open market in May, equal to about 2.24 percent of issued shares. It also approved an additional buyback worth about 2 billion won, to be conducted through the Kosdaq market by Sept. 26, with shares to be cancelled later.

Retail shareholders in South Korea\'s game industry are stepping up collective action as weak share prices persist and calls to boost shareholder value grow. Investors in Pearl Abyss, Devsisters and Wemade have demanded shareholder meetings, buybacks and cancellations of treasury shares, limits on executive pay and disclosure on new game development. Some companies have responded with shareholder return plans, meetings and cost-cutting steps, while broader pressure on the sector is spreading.