Youngpoong and MBK "Korea Zinc Paid-In Capital Increase, Market Order Infringement...Legal means sought"

Youngpoong and MBK Partners criticized Korea Zinc's paid-in capital increase in the general public offering as an act of violating the market order with existing shareholders.

Youngpoong and MBK issued a statement saying they would take all legal measures to prevent Korea Zinc's decision to increase the capital.

Chairman Choi Yoon-beom then claimed that he is trying to make up for the damage with the people's money by making a tender offer of treasury stocks with high-interest borrowings and causing enormous financial damage to the company.

He said he wants to hold Chairman Choi and the board accountable to the end, adding that he will make every effort to set up the corporate governance of the crumbling Korea Zinc.