Korea Zinc has announced its ambition to become a global core mineral platform company, focusing on the construction of a U.S. smelter and the expansion of its core mineral business as it celebrates its 52nd anniversary.
According to Korea Zinc, Chairman Choi Yoon-bum stated in his founding speech on July 31, "We will establish a new growth foundation based on the world-class smelting technology and the capabilities of our employees accumulated over the past half-century."
Chairman Choi introduced the key theme of this year's founding speech as 'Crucible.' The name 'Project Crucible,' associated with the construction of the integrated U.S. smelter, symbolizes a crucible that melts silver and refines it, representing a space that withstands intense heat to create new value.
He expressed, "As Project Crucible is completed, and our heart beats in Tennessee, our hearts will also be further tempered and grow in this hot crucible. If the Onsan smelter led Korea's industrialization, Crucible Metals in Tennessee will become a hub supplying core minerals to the global advanced industry."
Choi emphasized that Korea Zinc's competitiveness lies not in its equipment but in its people. He stated, "What makes Korea Zinc the world's best comprehensive core mineral smelter is not machines and equipment, but our refined spirit. This competitiveness cannot be taken away by anyone and cannot be bought with money."
Regarding the recent two years of hostile takeover attempts, he noted, "There were many concerns and struggles at the time, but I have come to believe that promoting Project Crucible has become a new starting point for growth."
Alongside the U.S. Project Crucible, Korea Zinc is also actively pursuing its 'Troika Drive' strategy, which focuses on resource recycling, renewable energy, green hydrogen, and secondary battery materials. The company plans to expand its production base for core minerals such as gallium and germanium to respond to the reorganization of global supply chains.
In conclusion, Choi remarked, "If we look at problems honestly, immerse ourselves fully, and move as one team, we can overcome any difficulties. Let us all enter the hot crucible and forge greater value together."
Meanwhile, the management dispute at Korea Zinc has entered its third year. The conflict between Chairman Choi's side and the MBK-Youngpoong alliance continues through various legal and commercial battles, including competition for share acquisition, board leadership disputes, injunctions against capital increases, and allegations of technology leaks.
* This article has been translated by AI.
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