Youngpoong, MBK seek 700 billion won in damages from board members of Korea Zinc.

Youngpoong and MBK Partners filed a lawsuit for damages worth 700 billion won against the directors who decided to make a tender offer for Korea Zinc's treasury stock and a paid-in capital increase in a general public offering.

Youngpoong filed a shareholder's representative lawsuit with the Seoul Central District Court, claiming that the directors of Korea Zinc caused 670 billion won worth of damage to the company.Among the 13 board members of

Korea Zinc, 10 directors were accused, including Chairman Choi Yoon-beom, excluding advisor Jang Hyung-jin and Youngpoong who opposed the tender offer and paid-in capital increase.

Shareholder representative litigation is a lawsuit in which a company neglects to hold directors accountable or shareholders hold directors accountable on behalf of the company and compensate for damages.If the shareholders of

win the case, the compensation will go to the company, not the plaintiff.