Young Poong and Korea Corporate Investment Seek Court Order to Block Voting Rights at Korea Zinc EGM

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Young Poong (KRX:000670) and Korea Corporate Investment have filed a preliminary injunction with the Seoul Central District Court seeking to prohibit 14 individuals and P23 Partners from exercising voting rights at Korea Zinc's (KRX:010130) upcoming EGM on Sept. 9.

The plaintiffs are invoking provisions under the Financial Investment Services and Capital Markets Act and the Korean Commercial Act to restrict voting on all agenda items.

The injunction targets specific shareholders for the shares listed in the accompanying schedule, with the value of the subject matter set at 100 million won, according to a bourse filing on Wednesday.

Korea Zinc confirmed receipt of the application on Aug. 26 and stated its intention to respond through proper legal channels.

Young Poong is the largest shareholder of Korea Zinc, holding about 25.4% of its shares.

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