In the second round of the legal battle, Korea Zinc won...Share buyback available

[Anchor]
The provisional injunction filed by Youngpoong and MBK Partners Union, which are attempting to take over Korea Zinc's management rights, has been rejected again to block the current management from buying back its own shares.

The court said that as long as Korea Zinc has complied with various procedures, it is not illegal to include the defense of management rights in the purpose of open purchase.

Reporter Kim Da-hyun reports.

[Reporter]
In the second round of legal battles over the management rights of Korea Zinc, the world's No. 1 nonferrous metal smelter, the court also ruled in favor of Korea Zinc.

Youngpoong's request for provisional injunction against Korea Zinc Chairman Choi Yoon-beom, asking him not to buy back his shares, was rejected again on the 2nd.

Youngpoong claimed that it is a breach of duty to make an open purchase of Korea Zinc at 890,000 won, which is significantly higher than the real value of the stock, and to make large-scale borrowing for this purpose.

However, the court said that it should be examined in detail on the main issue, but so far, it is difficult to regard it as a breach of trust.

It is difficult to clearly calculate the appropriate stock price of Korea Zinc at this stage,

Even if Korea Zinc has set a purchase price higher than the market price, it cannot be concluded as a breach of duty unless it has decided to incinerate all the purchased stocks.

The court also said that as long as Korea Zinc complied with legal procedures,
It also added that even if the purpose of the
tender offer included the defense of management rights, it cannot be immediately considered illegal.Following the court's decision to continue the

purchase of treasury stocks, Korea Zinc is expected to make all-out efforts to secure voting rights by the 23rd.

However, the court battle between the two sides is expected to continue for a while as Youngpoong said it would hold them accountable through lawsuits on the merits.

I'm YTN's Kim Dahyun.

Reporter for shooting
: Choi Sung-hoon
Edit Video: New Correction
Design: Lee Ga-eun