Youngpoong and MBK pointed out, "Consistent with the position of introducing Korea Zinc's par value division and executive officer system."

*This content was translated by AI.

The consortium of Youngpoong and MBK Partners, the largest shareholder of Korea Zinc, recently pointed out that "it is a shameless attitude that Chairman Choi Yoon-beom has interfered with the normal progress of the extraordinary general shareholders' meeting in January 2025 with illegal acts subject to criminal punishment."

Youngpoong and MBK Partners recently said, "The general meeting was crippled by depriving Youngpoong, the largest shareholder, of voting rights by making the mutual stock structure illegal just before the extraordinary shareholders' meeting in January 2025." The issue was found to be illegal in both the first and second trials, and the resolution at the general shareholders' meeting was suspended, and the Supreme Court is currently awaiting judgment. At that time, the unscrupulous and illegal damage to shareholder value, which no one expected at a large listed company with a market capitalization of 15 trillion, occurred under the leadership of Chairman Choi Yoon-beom.

Youngpoong and MBK Partners were forced to oppose most of the agendas at the extraordinary shareholders' meeting at a time when the extraordinary shareholders' meeting was disrupted due to Chairman Choi Yoon-beom's illegal activities. This is because there was a concern that favoring the par value division and executive officer system at the extraordinary shareholders' meeting could be used as acknowledging the effectiveness of illegal voting rights deprivation.

Youngpoong and MBK Partners said, "The re-proposal of the agenda to the same effect at the 2026 regular shareholders' meeting is intended to re-question shareholders' intentions under legal and fair procedures," adding, "Interpreting this as a change of position is only an argument that intentionally blurs the issue." Rather, Chairman Choi Yoon-beom and Korea Zinc should apologize to all shareholders for crippling the extraordinary shareholders' meeting in January 2025.

In particular, he stressed that "the position on the agenda itself has been consistent in that it is an institutional measure to enhance corporate value and normalize the functions of the board of directors."

In addition, in response to the Korea Zinc management's claim that "the agenda for the face-to-face division is limited in implementation even if it is re-decided due to the suspension of the effectiveness of the provisional shareholders' meeting," he said. "The decision to change the articles of incorporation to set the ceiling on the number of directors, appoint the chairman of the board of directors, and change the dividend base date among the temporary shareholders' meetings suspended due to the provisional disposition was re-appointed and approved at the regular shareholders' meeting held in March 2025 shortly after that," he said. "The absence of the face-to-face division agenda.

Youngpoong and MBK Partners said, "This general shareholders' meeting is not just a vote on the agenda, but a place to redefine the responsibility structure of the board of directors and current management."

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*This content was translated by AI.