The company said it has pursued its own governance reforms and shareholder-value measures, contrary to KZ Precision’s claims. It cited last year’s cancellation of 1,030,500 treasury shares, a 10-for-1 stock split aimed at lowering the entry barrier for small investors, and cash and stock dividends totaling 33.6 billion won. Young Poong also said it has reflected shareholder views in management, including appointing Jeon Young-jun as an outside director who serves on the audit committee after accepting a proposal from ordinary shareholders.
Young Poong said it will maintain its shareholder-return stance this year. It plans to cancel all remaining 203,500 treasury shares in the first half, further reducing shares outstanding. The company said the move is intended to enhance shareholder value and reinforce its commitment to responsible management. It also said it will draw up a midterm roadmap for its dividend policy to improve predictability for shareholders and further refine its corporate value-up program.
Young Poong said it will also accelerate governance-improvement efforts aimed at raising the corporate value of its key asset, Korea Zinc. The company said it believes Korea Zinc under Choi’s leadership continues to face concerns about potential damage to shareholder value, and it will do its utmost to normalize corporate value through sound governance and protect shareholder interests.
Young Poong said it is working to strengthen competitiveness by restoring sales and improving profitability in its core smelting business, while continuing environmental investment to build an eco-friendly smelter. It said it will continue to focus on enhancing shareholder value based on responsible management and transparent decision-making.
Separately, Young Poong said it filed a damages lawsuit on March 4 against KZ Precision and its Chairman Choi Chang-gyu and CEO Lee Han-seong, alleging they created the appearance of cross-shareholdings during a management control dispute at Korea Zinc and caused significant losses to Young Poong.
* This article has been translated by AI.
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