Korea Zinc "Buying treasury stocks" vs MBK "Betrayal"

When Youngpoong's application for an injunction against acquiring treasury stocks against Korea Zinc was rejected, Korea Zinc decided to start buying treasury stocks.

Korea Zinc issued a statement today saying it has decided to acquire treasury stocks through tender offer and retire treasury stocks.

He stressed that the court's decision acknowledged that there was no legal problem with Korea Zinc acquiring treasury stocks regardless of the tender offer period of Youngpoong.

MBK Partners, on the other hand, claimed that Korea Zinc's tender offer of treasury stocks was a breach of trust by acquiring treasury stocks at a price higher than normal shares.

He then explained that the market price of Korea Zinc stock is 500,000 won and is currently around 700,000 won, and if it is acquired at 800,000 won, it could be a breach of trust that damages the company and could constitute market manipulation.