[Featured Stock] Korea Zinc Down 4.48%... Starts Trading at 937,000 Won

Korea Zinc started trading on the 14th at 937,000 won, down 44,000 won (4.48%) from the previous trading day.

Korea Zinc withdrew its plan for a 2.5 trillion won rights offering the day before. The market is speculating that MBK and Youngpoong have a higher possibility of taking control of Korea Zinc's board of directors.

Choi Yoon-beom, chairman of Korea Zinc, held a press conference and said, "I will step down as chairman of the board as soon as possible and have an outside director take the chair," adding, "We will strengthen the independence of the board."

He also said, "We are considering introducing a minority shareholder majority voting system to recommend directors reflecting the opinions of small shareholders," and "We will amend the articles of incorporation to reflect these matters." He announced that foreign outside directors with expertise in new business areas such as robotics and batteries will also be newly appointed.