- Report of Foreign Issuer (6-K)

Webzen Inc.

March 18, 2010

/s/ Chang Keun Kim

CHANG KEUN KIM

Chief Executive Officer

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of January 2010

Commission File Number: 000-50476

Webzen Inc.

(Translation of registrant’s name into English)

14 th Floor, Daerung Post Tower 2nd

182-13 Guro-Dong Goru-Gu

Seoul, Korea 152-790

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F

Form 40-F

____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes

____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes

____

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes

____

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

Webzen Inc.

INDEX TO EXHIBITS

Item
1.	Conversion of Depositary Receipts(DRs) into Underlying Shares

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Item 1.

Conversion of Depositary Receipts(DRs) into Underlying Shares

1. Accumulated Number of Shares issued through Conversion(Excluding number of shares previously reported)	159,600
- Number of Outstanding Shares	12,974,000
- Ratio to Number of Outstanding Shares(%)	1.23%
2. Other	* Confirm Date : March 17, 2010 * ADR ratio has been changed 10:3 from 10:1 due to the free issue of new shares * Current Remaining DR : 3,922,300
	※Relevant Disclosure

Details of Daily Application for Conversion

( Unit : Share )
Application Date	Type of DR Issue	Date of DR Issue	Number of DRs Applied for Conversion	Conversion Ratio (00Shares/1DR)	Number of Shares Delivered
2010-01-08	New Share DR	2003-12-16	50,000	0.3	15,000
2010-01-11	New Share DR	2003-12-16	10,000	0.3	3,000
2010-01-15	New Share DR	2003-12-16	13,000	0.3	3,900
2010-01-19	New Share DR	2003-12-16	24,000	0.3	7,200
2010-01-20	New Share DR	2003-12-16	10,000	0.3	3,000
2010-01-21	New Share DR	2003-12-16	20,000	0.3	6,000
2010-01-22	New Share DR	2003-12-16	40,000	0.3	12,000
2010-01-27	New Share DR	2003-12-16	10,000	0.3	3,000
2010-02-02	New Share DR	2003-12-16	70,000	0.3	21,000
2010-02-03	New Share DR	2003-12-16	20,000	0.3	6,000
2010-02-05	New Share DR	2003-12-16	20,000	0.3	6,000
2010-03-05	New Share DR	2003-12-16	30,000	0.3	9,000
2010-03-10	New Share DR	2003-12-16	35,000	0.3	10,500
2010-03-11	New Share DR	2003-12-16	10,000	0.3	3,000
2010-03-15	New Share DR	2003-12-16	100,000	0.3	30,000
2010-03-16	New Share DR	2003-12-16	50,000	0.3	15,000

Change in DR

( Unit : Share )
Type of DR Issue	Date of DR Issue	Total Number of DRs Issued	Balance of DRs at Current Disclosure Date	Conversion Ratio (00Shares/1DR)	Number of Convertible Shares
New Share DR	2003-12-16	8,700,000	3,922,300	0.3	1,176,690