Korea Zinc Choi Yoon-beom said, "18% of treasury stocks are tender offer...A desperate decision".

Chairman Choi Yoon-beom of Korea Zinc, who is in a management dispute with Youngpoong and MBK Partners, said the decision to buy back shares was a sincere decision to protect the company, shareholders, employees and suppliers and to dispel public concerns.

Chairman Choi held an emergency press conference and announced that he would invest KRW 3.1 trillion with Bain Capital to publicly buy 3.72 million shares, or 18% of all issued shares.

The purchase price per share is 830,000 won, and all treasury stocks acquired through tender purchases will be incinerated to enhance shareholder value.

Youngpoong and MBK refuted the claim that the acquisition of treasury stocks was breach of trust and market price manipulation, saying it was a fiction that the court had not already recognized at the trial stage.

He also stressed that if Youngpoong participates in the tender offer of Korea Zinc's treasury stocks through legal management judgment, it will raise the necessary funds for normalization of management, including major disasters in Youngpoong and increased investment to prevent environmental pollution.

He added that he would like to open up all possibilities on matters such as resolving misunderstandings and restoring cooperative relations with adviser Youngpoong Jang Hyung-jin, and discuss candidly and find a smooth solution.