Encouraging Employees Working Silently Amid Management Dispute
Emphasizing Overcoming the Situation Through Labor-Management Cooperation
Expressing Gratitude to Ulsan Mayor Kim Doo-gyeom
Chairman Choi: "We Will Normalize the Situation Quickly"
Choi Yoon-beom, Chairman of Korea Zinc, encouraged the employees of the Onsan Smelter and met with Ulsan Mayor Kim Doo-gyeom to express his gratitude.
Korea Zinc announced that Chairman Choi visited Ulsan over two days on the 28th and 29th to encourage the smelter employees who have been diligently focusing on their respective duties despite the management rights dispute with MBK Partners and Youngpoong. He also met with Ulsan Mayor Kim Doo-gyeom and Lee Yoon-cheol, Chairman of the Ulsan Chamber of Commerce and Industry, to thank them for the trust and support given to the hometown company Korea Zinc, and conveyed appreciation to Ulsan citizens, various sectors, and institutions.
Choi Yoon-beom, Chairman of Korea Zinc (center), is visiting the Onsan Smelter to tour the product manufacturing site. Photo by Korea Zinc
On the 28th, Chairman Choi presided over the Onsan Smelter executives and team leaders meeting, reviewing current issues at the smelter and expressing gratitude to the smelter executives and employees who have steadfastly maintained the site despite difficult circumstances. He also emphasized that while production targets are important, all employees should produce products in the safest and most environmentally friendly way possible and ensure thorough quality maintenance.
He explained that Korea Zinc’s core precursor technology was recently designated as a national core technology, and that procedures are underway to have the Onsan Smelter’s world-leading proprietary smelting technology also designated as a national core technology.
Afterwards, he visited the smelter site to thank the on-site employees for their hard work and met with key union officials, including Chairman Moon Byung-guk, to discuss various current issues. Chairman Choi stressed that labor and management should unite to wisely overcome the difficult situation, and Chairman Moon strongly criticized the hostile merger and acquisition (M&A) and expressed support for the current management.
Choi Yoon-beom, Chairman of Korea Zinc (left), is visiting Ulsan City Hall and taking a commemorative photo after a meeting with Kim Doo-gyeom, Mayor of Ulsan Metropolitan City (right). Photo by Korea Zinc
On the 29th, he met with Ulsan Mayor Kim Doo-gyeom and expressed deep gratitude for the active support and encouragement given to Korea Zinc for over 70 days.
During the Chuseok holiday period when this incident occurred, Mayor Kim Doo-gyeom took the lead in protecting Korea Zinc, a hometown company of Ulsan, by issuing a statement and voluntarily holding a press conference. Mayor Kim’s position is that Korea Zinc, a national key industry, must not be handed over to private equity funds like MBK. Subsequently, major institutions and organizations in Ulsan joined this movement, leading to a large-scale campaign including the Korea Zinc 1 Share per Person movement.
Chairman Choi said, "I am grateful for the interest many Ulsan citizens have shown in the Korea Zinc 1 Share per Person movement," and promised, "To end the side effects of this incident early, the management, employees, and labor will unite to quickly normalize the company and make a great leap forward as a proud hometown company of Ulsan."
Meanwhile, Chairman Choi Yoon-beom of Korea Zinc has emphasized on-site management by strengthening rapport with employees and showing special affection for the smelter, having worked at the Onsan Smelter after joining Korea Zinc. With nearly 20 years of field experience, including working at Australia’s SMC (Sun Metal Smelter), he has enhanced his understanding of the smelting business and has led new business plans and directions such as the Troika Drive based on this experience.
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