Youngpoong and MBK Application for Permission to Call Korea Zinc's Provisional Shareholders' Meeting to the Court

Youngpoong and MBK Partners, which are in a management dispute over Korea Zinc, have applied to the court for permission to convene an extraordinary shareholders' meeting of Korea Zinc.

Youngpoong and MBK said in a press release today (1st) that they legally requested the board of directors of Korea Zinc to convene an extraordinary general meeting of shareholders on the 28th of last month, but have not yet taken the process of convening the general meeting.

The board of directors of Korea Zinc decided to raise 2.5 trillion won, which could lead to changes in existing shareholders and corporate governance, and explained that an extraordinary shareholders' meeting needs to be held quickly.

Earlier, Youngpoong and MBK Partners had called on the company to convene an extraordinary shareholders' meeting to discuss agendas including the appointment of 14 new directors on the 28th of last month.