Anduk Geun, Minister of Industry, "Actively Considering Designation of Korea Zinc as a National Core Technology"

Revealed at the Ministry of Industry's National Assembly Audit on the 7th

Anduk Geun, Minister of Trade, Industry and Energy, stated on the 7th, "We will actively review whether the precursor manufacturing technology owned by Korea Zinc qualifies as a national core technology in accordance with the law."

Minister Ahn made this remark during the National Assembly's Trade, Industry, Energy, Small and Medium Venture Business Committee's audit of the Ministry of Trade, Industry and Energy, in response to questions regarding the ongoing management rights dispute between the MBK Partners-Youngpoong alliance and Korea Zinc.

Earlier, on the 4th, the government held a meeting of the Industrial Technology Protection Expert Committee to review the agenda concerning Korea Zinc's application for designation of its technology as a 'National Advanced Strategic Technology and National Core Technology.' The results of the review have not yet been announced.

Minister Andeok Geun of the Ministry of Trade, Industry and Energy is responding to a lawmaker's question at the National Assembly's Trade, Industry, Energy, Small and Medium Business Committee audit held on the 7th.
[Photo by Yonhap News]

Park Sung-min, a member of the People Power Party, mentioned during the audit that the private equity fund MBK includes Chinese shareholders, stating, "The state must not respond complacently to technology leakage or national wealth outflow," and added, "Korea Zinc is a global company poised for significant expansion, but suddenly a private equity fund has come in and is shaking things up."

He further stated, "If MBK takes over the technology owned by Korea Zinc, given that China already controls 90% of the precursor market, the non-ferrous metals and secondary battery materials industries will inevitably be completely handed over to China."

In response, Minister Ahn said, "Korea Zinc is a national key industry, and the smelting technology it possesses is very important, so the Ministry of Trade, Industry and Energy is watching this matter with great interest," adding, "We will actively review the designation of national core technology in consultation with the company going forward."