Youngpoong and MBK "Disappointed...To be held responsible for the main lawsuit."

Youngpoong and MBK Partners said they were sorry that the court rejected their "disposition to suspend the tender offer of Korea Zinc's treasury stock," but said they would hold Korea Zinc's management accountable in the main lawsuit.

Youngpoong and MBK reiterated in their positions twice today (21st) that the tender offer of Korea Zinc's treasury stock constitutes a breach of trust that causes enormous damage to the company, and that the board of directors cannot divert the discretionary reserves set aside by the resolution of the general shareholders' meeting.

In particular, the current management of Korea Zinc, which damaged its financial structure with 2.7 trillion won in borrowings for Chairman Choi Yoon-beom, said it plans to hold the current management responsible until the end of the main lawsuit, including claims for damages, and said it will have enough time to clarify its illegality.

Youngpoong and MBK also said they would straighten out their collapsed governance as the largest shareholder of Korea Zinc, and would state their position on an extraordinary shareholders' meeting after watching the outcome of the tender offer.