On November 13, 2024, Korea Zinc announced that Yun B. Choi, Chairman held a press conference and stated strategic initiatives to enhance the Company?s corporate governance, transparency and shareholder engagement. Yun B. Choi added that he is committed to fortifying board independence, enhancing corporate governance and increasing protection and engagement for minority shareholders, making Korea Zinc a company that listens more closely to its stakeholders and as part of these measures, the Company will advance plans to have an independent director serve as Chair of the Board. Yun B. Choi stated that i) expanding diversity and global communication at board level, ii) shareholder-friendly policies and enhanced dividend return, iii) strengthening minority shareholder protections, iv) commitment to stakeholders.

Additioinally, Yun B. Choi stated that Challenges Facing Young Poong and MBK Partners? M&A Bid as: MBK and Young Poong have faced significant setbacks, including regulatory suspensions for Young Poong's Seokpo smelter and MBK's failure to secure public fund mandates, damaging their credibility. Korea Zinc believes that defending against their hostile takeover attempts is crucial for maintaining its value and strategic importance in Korea's economy.

The Company previously initiated a public offering for capital increase but withdrew it due to unforeseen market conditions following its share buyback. Despite expectations of stock price stabilization, volatility increased, leading to a reconsideration of its strategy. The board decided to issue shares to enhance liquidity and diversify ownership but faced concerns from investors and regulators.

In response to this feedback, Korea Zinc acknowledges the confusion caused and apologizes to shareholders for the disruption.