A power struggle has emerged at Korea Zinc Co., with Chairman Yun B. Choi facing off against Young Poong Corp., the largest shareholder controlled by the Chang family. This conflict highlights a deep rift between two of South Korea"s wealthiest families over control of the world"s largest zinc smelter.
Korea Zinc Co.’s chairman, Yun B. Choi, is working to rebuild shareholder trust after a $1.8 billion share sale was scrapped, which he called his “one real mistake” in a proxy battle with the company’s top shareholder. Choi plans to step down as chairman and is engaging with investors while the company strengthens its board by adding a foreign director and a new independent chairman.
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