Three Figures in 'Korea Zinc Management Dispute' Notified of Absence from National Assembly Audit

Yeongpung, MBK, and Koryo Ahn Chairmen Notify Absence
Due to Overseas Business Trips and Other Reasons

Kim Byung-joo, Chairman of MBK Partners, Jang Hyung-jin, Chairman of Yeongpung Group, and Choi Yoon-beom, Chairman of Korea Zinc, who were selected as witnesses for the National Assembly’s Industry, Trade, Energy, Small and Medium Enterprises Committee’s audit due to a management rights dispute, have notified their intention to be absent from the audit scheduled for the 7th.

[Image source=Yonhap News]

According to the National Assembly on the 6th, Chairman Kim explained his reason for absence as having to be abroad for business trips scheduled on the 8th, making it necessary for him to be away from the country for the time being. Chairman Kim was also selected as a witness for the Land, Infrastructure and Transport Committee audit on the 11th, and it seems highly likely he will not attend for the same reason.

Chairman Jang expressed his intention to be absent due to reasons such as a business trip to Japan. Chairman Choi explained that he would be absent because an urgent decision might be made at the board meeting on the 7th, making it difficult for him to be present.

Korea Zinc has conveyed to the National Assembly that President Park Ki-duk will attend in place of Chairman Choi and respond to inquiries.

Earlier, the Industry Committee had selected related parties as witnesses, stating that it was necessary to closely examine the process after Yeongpung Group joined hands with the private equity fund (PEF) operator MBK Partners to attempt to acquire management rights of Korea Zinc.