When the results of Korea Zinc's tender offer came out, Youngpoong and MBK Partners requested the board of directors of Korea Zinc to convene an extraordinary general meeting of shareholders.
Youngpoong and MBK said they sent a proof of content to the board of directors of Korea Zinc, demanding an extraordinary meeting of shareholders to resolve the appointment of new directors and changes to the articles of incorporation for the introduction of the executive board system.
He then explained that the existing board system, which has lost its independent oversight of business execution, has reached its end, and that the board will be reorganized to reflect the intentions of all major shareholders, not specific shareholders.
As a result, 12 candidates, including former Woori Bank President Kwon Kwang-seok and former Financial Supervisory Service President Yoon Seok-hun, were listed as new outside directors, while other candidates for non-executive directors were Kang Sung-doo, president of Youngpoong, and Kim Kwang-il, vice chairman of MBK Partners.
Earlier, Youngpoong and MBK called an extraordinary general meeting of shareholders and emphasized that they would start working on improving Korea Zinc's governance in earnest.
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