Korea Zinc "Some of the reasons for legal disqualification of new directors who requested Youngpoong and MBK"

Korea Zinc, in a management dispute, held a board meeting and deliberated on the convening of an extraordinary shareholders' meeting requested by Youngpoong and MBK Partners.

Korea Zinc released a press release and said it deliberated on some of the 14 candidates for directors demanded by Youngpoong and MBK with legal reasons for disqualification.

He also said he would review the remaining candidates and confirm the timing of the extraordinary shareholders' meeting.

He also expressed negative opinions about the executive officer system proposed by Youngpoong and MBK, saying that it could undermine management efficiency and avoid executive officers' responsibility.

On the 28th of last month, the Youngpoong-MBK alliance requested the board of directors of Korea Zinc to convene an extraordinary general meeting of shareholders to appoint 14 new directors and introduce an executive officer system.