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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, May 27 — A Seoul court has ordered Korea Zinc to submit documents related to its advisory relationship with a shareholder activism platform operator, as part of an ongoing legal dispute over shareholder meeting resolutions.
According to legal sources, the court requested materials including advisory contracts with Conduit, as well as emails, proposals, and payment records detailing the scope of services provided. The case stems from a lawsuit filed by Young Poong and MBK Partners seeking to invalidate resolutions from Korea Zinc’s 2025 annual general meeting.
The plaintiffs allege that Korea Zinc’s management engaged external advisors to devise strategies to restrict voting rights of its largest shareholder, while also restructuring shareholdings through affiliated entities.
Korea Zinc, however, dismissed the claims, stating that the court’s order is a routine evidentiary procedure and that all advisory activities were conducted lawfully. The company also cited a recent Supreme Court decision that upheld the legitimacy of limiting certain voting rights at the shareholders’ meeting.
The case highlights ongoing tensions over corporate governance and shareholder rights in one of Korea’s most closely watched ownership disputes.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
