MBK and Youngpoong "Choi Yoon-beom Recognizes Pre-Paid-In Capital Increase Plan" ... Korea Zinc "Falsely Wrapping"

MBK Partners and Youngpoong, who are in a management dispute with Korea Zinc, claimed that Choi Yoon-beom, chairman of Korea Zinc, admitted to planning a paid-in capital increase in a general public offering to defend management rights.

Earlier, in an interview with foreign media, Chairman Choi apologized to shareholders for attempting a capital increase, saying, "There is an aspect of attempting a capital increase by force, caught up in the need to prevent hostile takeover attempts."

The MBK and Youngpoong Alliance said Choi's remarks acknowledged that he planned a paid-in capital increase in advance to compete with them, the largest shareholder, and pointed out that it is an improvised excuse to claim that he has decided to raise the capital due to urgent market changes.

Korea Zinc refuted the claim, saying that it was framed as malicious mistranslation and false information, and that Youngpoong and MBK are misleading public opinion by mobilizing unidentified officials.

It added that it will take legal action against MBK and Youngpoong.