[Edaily Marketin Reporter Hur Jieun ] Ahead of the extraordinary general meeting of shareholders scheduled for September 9, MBK Partners pointed out that the explanatory materials on the agenda distributed by KoreaZinc(010130)“contain false information and present distorted claims.” MBK announced that it would take legal action, including filing a criminal complaint against Yoon Choi, Chairman of KoreaZinc, for spreading false information and defamation.

On the 20th, MBK announced that it had sent official letters to Chairman Choi and Park Ki-deok, CEO of KoreaZinc, demanding the removal of content inconsistent with the facts in the explanatory materials and measures to prevent recurrence, while also initiating full-scale legal action.

Previously, on the 14th, KoreaZinc distributed explanatory materials for an extraordinary shareholders’ meeting. In the seven-page document, KoreaZinc detailed concerns regarding the limitations of MBK and Youngpoong’s management capabilities and the potential undermining of corporate governance. MBK Partners explained that, in this process, objective facts regarding the investment firms’ normal business operations were selectively presented in a biased manner, and content inconsistent with the facts was distorted.

An MBK Partners official pointed out, “This constitutes the intentional inclusion of false information or the deliberate omission of important facts in a document that significantly influences shareholders’ rational exercise of voting rights,” adding, “It is a clear illegal act that seriously damages the reputation and credibility of others.”

The spokesperson further emphasized, “Instead of explaining to shareholders the fundamental issues they face—such as various allegations of illegal and irregular activities and sanctions from financial authorities—Chairman Choi and the current management of KoreaZinc are indiscriminately dragging in external companies unrelated to the agenda of the shareholders’ meeting to distort the facts and defame our reputation.”

He continued, “Spreading false information—even to the point of committing illegal acts—to skew voting intentions ahead of the extraordinary general meeting is an act that undermines the fair order of the capital market and the rights and interests of shareholders,” adding, “If KoreaZinc fails to immediately remove the false materials and continues its inappropriate solicitation of voting rights, we will take all possible legal measures to protect shareholders’ rights and interests and maintain market confidence.”