Korea Zinc "will secure as much voting rights as possible to prevent hostile M&A"

When Youngpoong's second injunction request to block Korea Zinc's share purchase was also rejected, Korea Zinc emphasized that it would secure voting rights as much as possible to prevent hostile mergers and acquisitions.

Korea Zinc issued a statement saying the rejection means that it is for Korea Zinc to prevent MBK Partners and deficit smelter Youngpoong from colluding to run Korea Zinc.

It also said Youngpoong disproved the fact that it was a deliberately designed trick to create anxiety among shareholders by increasing uncertainty over the tender offer of Korea Zinc's shares.

He also argued that investigation and legal punishment for market manipulation and capital market disturbance would be inevitable given that it caused property losses to more than 5 percent of shareholders despite a fixed profit of 60,000 won more than the tender offer of Youngpoong and MBK.