Korea Zinc loses court battle over curbs on Young Poong's voting rights
SEOUL, Nov. 12 (Yonhap) -- A court ruled Thursday that a resolution passed at Ko...
A Seoul court has ruled that Korea Zinc must overturn a decision limiting voting rights for Young Poong Corp. and private equity firm MBK Partners Ltd. The formation of an alliance between Young Poong and MBK in September 2024, aiming to gain control over Korea Zinc, led to joint voting rights. This prompted Korea Zinc's Chairman, Choi Yun-beom, to fight a lengthy battle to prevent their takeover.
The Seoul Central District Court ordered the revocation of the March 2025 shareholder resolution adopted by Korea Zinc, stating they cannot limit voting rights of existing shareholders using cross-shareholding rules to defend management control.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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