Korea Zinc Co. is scheduled to convene a board meeting on Wednesday to decide the outcome of its controversial $1.8 billion share sale plan, which has already resulted in a significant decline in stock prices and an investigation by the country's financial regulator.

The decision comes amidst ongoing tensions between the company's major shareholders regarding its strategic direction. The conflict escalated in September when private equity firm MBK Partners Ltd. teamed up with Young Poong Corp., Korea Zinc's largest shareholder, to launch an unsolicited bid. This dispute has garnered significant attention as it underscores the challenges faced by the world's largest zinc smelter in managing shareholder interests and corporate governance.