Korea Zinc has rebutted concerns raised by MBK Partners and Youngpoong regarding potential losses related to the company's fund investments, stating on September 3 that it is considering legal action against what it claims are false assertions.
The company argued that MBK and Youngpoong's claims of 'uncertainty in recovery' and 'risk of loss' regarding specific funds it has invested in are unfounded, as there have been no recorded evaluation losses compared to the acquisition cost.
Korea Zinc also noted that the investment examples provided by MBK and Youngpoong for comparison are not directly comparable due to differences in acquisition timing and costs. The assertion that a specific individual's investment faced a loss and led to a withdrawal of funds was also denied.
The company explained that it invests a portion of its surplus funds in financial products such as funds for financial investment purposes, following relevant laws and internal procedures for investment decisions. It added that it has realized profits from some investments.
Furthermore, Korea Zinc clarified that it is a limited partner (LP) in the fund, and the selection of specific investment targets and fund execution is led by the general partner (GP). It emphasized that viewing its investments as direct selections of individual companies differs from the fund management structure.
Korea Zinc plans to provide information regarding its investment status to shareholders and the market. It will also consider legal measures if it determines that false claims have harmed the reputation of the company and its management or its corporate value.
Meanwhile, a shareholders' meeting is scheduled to take place on September 9 at 10 a.m. at the Mondrian Hotel in Yongsan, Seoul.
* This article has been translated by AI.
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