Foreign funds also demand Youngpoong to 'boost shareholder value'

Youngpoong, who is in a management dispute with Korea Zinc, has been asked to raise shareholder value by overseas hedge funds, following a domestic asset management company.

Metrica Partners, a Singapore hedge fund manager with a 1.5% stake in Youngpoong, urged Youngpoong to improve its shareholder return policy and governance structure.

Youngpoong then said he was stingy in sharing the fruits from the growth of Korea Zinc, which seemed unwilling to address the undervaluation of stock prices.

It also added that further clarification is needed as there are many undisclosed matters in the management cooperation contract with private equity firm MBK Partners.

Must Asset Management, which has a 2% stake in Youngpoong, also demanded the retirement of its shares, saying Youngpoong, which pointed out the problem of Korea Zinc's governance structure, neglected its shareholder value.