Korea Zinc Completes Headquarters Relocation from Youngpoong Building to Jongno

"Korea Zinc Sales Team and Seorin Corporation Overseas Sales Team Placed on the Same Floor for Synergy"

Korea Zinc announced on the 29th that it has expanded and relocated its headquarters to the Gran Seoul Building in Jongno-gu, Seoul.

Marking its 50th anniversary, Korea Zinc has moved out of its previous office in the Youngpoong Building in Gangnam-gu, Seoul, and started operations at the Gran Seoul Building in Jongno-gu from this day. About 400 employees from Korea Zinc headquarters and its affiliates, including Kemco and Korea Electric Glass Co., Ltd., will occupy 4.5 floors from the 15th to the 19th floor of the Gran Seoul Building. Korea Zinc explained, "In the case of Seorin Corporation, the Korea Zinc sales team and Seorin Corporation's overseas sales team are placed on the same floor to maximize synergy."

Jongno is the area where Korea Zinc first established its roots when it was founded in 1974. Korea Zinc started its business at 33 Seorin-dong, Jongno-gu, with seven promoters including the late Chairman Choi Ki-ho and Honorary Chairman Choi Chang-geol. After laying the foundation for growth in Jongno for about six years, Korea Zinc relocated to the Youngpoong Building in 1980.

Office view of Korea Zinc in the Grand Seoul Building, Jongno-gu, Seoul
[Photo provided by Korea Zinc]

Industry insiders speculate that Korea Zinc recently separated its workspace due to intensified management conflicts with Youngpoong. The Youngpoong Building is owned by Youngpoong, the largest shareholder of Korea Zinc.

Korea Zinc, a core affiliate of the Youngpoong Group, was founded by the late founders Jang Byung-hee and Choi Ki-ho. Currently, the Choi family manages Korea Zinc, while the Jang family manages the Youngpoong Group and its electronics affiliates. Since the inauguration of Chairman Choi Yoon-beom of Korea Zinc in 2022, both sides have been engaged in a battle over Korea Zinc’s shares, including a shareholder meeting vote in March and recent litigation, continuing their management conflicts.

Korea Zinc stated, "The Nonhyeon-dong office lacked space, leading to inefficiencies such as using nearby annexes as offices beyond the main building. Considering the symbolic value of Jongno, where our first headquarters was located, and employee work satisfaction, among other factors, we decided to relocate."

Meanwhile, Korea Zinc will hold an internal commemorative ceremony for its 50th anniversary on the 31st of this month in Ulsan, where the Onsan Smelter is located, one day before its founding anniversary on August 1st.