MBK Partners: Over USD 50M of Korea Zinc Funds Poured into Same Entertainment Firms Backed by Director Yun Birm Choi
Young Poong and MBK Partners (hereinafter "the Consortium"), the largest shareholder of Korea Zinc, stated on the 28th that funds managed by OneAsia Partners (hereinafter “OneAsia”)—predominantly capitalized by Korea Zinc—injected over USD 50 million (KRW 69 billion) into four unlisted entertainment and content companies unrelated to Korea Zinc’s core business, the exact same firms in which Korea Zinc Executive Director Yun Birm Choi and his family had personally invested.
MBK Partners and Young Poong on the Verge of Victory in the Battle for Control of Korea Zinc
A South Korean court has halted key resolutions from Korea Zinc’s recent extraordinary general meeting(EGM), paving the way for MBK Partners and Young Poong to secure a majority on the company’s board.
MBK Partners: Welcoming the Court’s Decision to Prohibit Cumulative Voting for Director Appointments
MBK Partners and Young Poong, the largest shareholders of Korea Zinc, issue the following statement regarding today’s decision by the Seoul Central District Court’s Civil Division 50 to grant an injunction prohibiting the use of cumulative voting for director appointments at Korea Zinc:
MBK Partners Claims Chairman Choi’s Proposal to Introduce Cumulative Voting Into Korea Zinc Criticized as ‘Hypocritical’
Global proxy advisory firm Institutional Shareholder Services (ISS) has issued a recommendation to oppose the adoption of a cumulative voting system at Korea Zinc’s upcoming extraordinary general meeting (EGM) on January 23. The proposed measure, backed by Chairman Choi Yoon-beom, has drawn significant criticism as it turns out that he excluded cumulative voting at Sorin Corporation’s EGM in August 2024 to secure control over the company’s board.
Korea Zinc's Acquisition of Igneo Holdings Sparks Controversy Over 100x Seller Profits
The largest shareholder alliance of Korea Zinc - MBK Partners and Young Poong - has called on Chairman Choi Yoon-beom to clarify his connections with the sellers of Igneo Holdings, who reportedly gained profits exceeding 100 times their initial investment during the 2022 acquisition.
MBK Partners and Young Poong Expand Stake in Korea Zinc to 46.7% of Voting Shares
MBK Partners, through its special-purpose company, Korea Corporate Investment Holdings Co., Ltd., has acquired an additional 1.13% stake in Korea Zinc.
MBK Partners and Young Poong to Restore Korea Zinc's Shareholder Value through Governance Reform
Korea Zinc's largest shareholders, MBK Partners and Young Poong (herein, the Consortium), have announced plans (Korea Zinc Value Up) to fundamentally reform the company’s governance structure to recover the long-overlooked shareholder value.
MBK Partners Dismisses Allegations on Non-Disclosure Agreement by Korea Zinc
MBK Partners categorically dismisses the baseless allegations made by Korea Zinc regarding an alleged breach of a Non-Disclosure Agreement (NDA).
MBK Partners and Young Poong Refute Korea Zinc's Baseless Claims
MBK Partners has clarified its position on a matter involving Korea Zinc, stating that the company is making claims that are far from reality. The matter dates back to May 2022, when a person known to be close to Chairman Choi Yoon-beom of Korea Zinc approached MBK Partners' Special Situations team, one of its investment management divisions, seeking investment.
