Chairman Choi Yoon-beom of Korea Zinc, today's press conference...Will the capital increase be withdrawn?

Chairman Choi Yoon-beom of Korea Zinc, who is in a management dispute with Youngpoong and MBK, will hold a press conference this afternoon to express his position on the controversial decision to raise the capital in the public offering.

Prior to this, Korea Zinc will hold a board meeting this morning and make a final conclusion on whether to withdraw the capital increase.

Korea Zinc made an official apology in a conference call after announcing its third-quarter earnings yesterday, saying that it had not fully anticipated changes in market conditions in the process of urgently deciding on a paid-in capital increase for the general public offering.

The board of directors is reportedly weighing withdrawing the decision to increase capital with consideration, as there are great concerns from the market and financial authorities.

The press conference after the board meeting is expected to explain the board's decision process and background on the capital increase and how to win the shareholders' meeting in the future.