Korea Zinc discusses 'setting upper limit for 19 directors' at interim shareholders' meeting on Jan. 23.

Korea Zinc, which is in a management dispute with Youngpoong and MBK Partners, said it will discuss ways to limit the number of board members to 19 at an extraordinary shareholders' meeting on the 23rd of next month.

With the current board of directors of Korea Zinc consisting of a total of 13 members, it is interpreted as a defense against the request by the Youngpoong and MBK unions for the appointment of 14 new directors.

At this extraordinary shareholders' meeting, Korea Zinc and Youngpoong and MBK unions will compete for management rights.

Earlier, Korea Zinc held an extraordinary board meeting yesterday and decided to put the agenda to the extraordinary shareholders' meeting, which includes strengthening minority shareholder rights and protective devices.

In addition, a plan to set the board's upper limit on the number of directors at 19 and the introduction of a concentrated voting system proposed by shareholders "Yumi Development" will be addressed at the extraordinary shareholders' meeting.

Korea Zinc stressed that the upper limit of the number of directors is an inevitable measure for the stability and efficiency of the board's operations.