Webzen Inc. Resolution on Direct Share Repurchase

Webzen Inc. Resolution on Direct Share Repurchase

November 29, 2007

    SEOUL, South Korea, Nov. 29
/Xinhua-PRNewswire-FirstCall/ -- Webzen Inc. (Nasdaq: WZEN)
announced that the company decided to repurchased treasury
stock 250,000 shares in order to stabilize the stock price.
 Estimated repurchase amount will be 2.2 billion won.  The
repurchase amount is computed based on the closing price of
the previous day (November 28th, 2007). The repurchase
period is Dec.03 2007 - Feb.29 2008.  Webzen¡¦s total
treasury stock balance after this repurchase is
797,705(6.15%)

    -- Purpose: Stabilize treasury stock price 
    -- Number of Shares to be repurchased: 250,000 (2%)
    -- Estimated Repurchase Amount: 2.2 billion won
    -- Repurchase Period: 2007.12.03 - 2008.02.29

    Since present stock price is much lower than its
company value and Webzen¡¦s growth potential does not
reflect to the stock price, management decided to
repurchase treasury stock. 

    As of end of Q3, our cash and cash equivalent asset was
74 billion won. The current ratio is over 1000% that we have
maintained stable financial structure. We are anticipating
the black ink the Q4 ordinary profit due to the disposal of
tangible assets and disposable stock.

    Media contact:

     Mr. Donghoon Lee 
     Manager 
     Investor Relations 
     Webzen Inc. 
     Tel:   [phone] 
     Fax:   [phone] 
     Email: [e-mail]