MBK "Goryeo Ayun's Unfounded Claims, Never Used Past Data"

Regarding the complaint filed with the Financial Supervisory Service by Korea Zinc, alleging that MBK Partners violated a confidentiality agreement and used materials originally provided for a new investment in the company to attempt a takeover, MBK responded on the 15th, calling it "baseless claims and malicious slander that clings to trivial details."

MBK stated, "Despite having publicly explained multiple times that the MBK Partners 'Buyout' division involved in the Korea Zinc tender offer has nothing to do with the 'Special Situations' division's investment review of Korea Zinc two years ago, today Korea Zinc is making baseless claims and malicious slander by nitpicking, so we would like to reiterate our position."

MBK asserted, "The MBK Partners 'Buyout' division participating in the Korea Zinc tender offer has never seen or read the 'Troika Drive consulting materials' claimed by Korea Zinc, and was unaware of the existence of such materials until Korea Zinc made these baseless allegations. Naturally, we have never used those materials in the Korea Zinc tender offer."

They also emphasized, "The MBK Partners 'Buyout' division was unaware of the content and existence of the confidentiality agreement (NDA) signed between the 'Special Situations' division and Korea Zinc two years ago."

Furthermore, MBK explained, "The 'Buyout' division, which acquires corporate control, and the 'Special Situations' division, which engages in minority equity investments, private loans, and convertible bond (CB) investments, are effectively separated and strictly divided by a 'Chinese Wall,' preventing any internal information exchange. Investment activities are reviewed and conducted independently. The investment review committees, which are the final decision-making bodies for investments, also operate separately."

MBK added, "The investment activities in Japan's Accordia Next Golf and China's car rental company Car Inc, which Korea Zinc mentioned as if newly discovered, have already been transparently disclosed. The 'Buyout' division invested in controlling shares of these companies, while the 'Special Situations' division, together with other investors, executed private loan-related investments in these companies."

They further noted, "The investment proposal received by the 'Special Situations' division two years ago from a person known to have a personal friendship with Chairman Choi Yoon-beom was shelved by the working group without any detailed discussion on investment terms."

On the 13th, when the board meeting to decide whether to withdraw the paid-in capital increase of Korea Zinc is held, people are entering the Korea Zinc headquarters building in Jongno-gu, Seoul.

MBK explained that the Korea Zinc tender offer and related investment matters are being conducted solely by the MBK Partners 'Buyout' division.

MBK stated, "It is logically incomprehensible how a completely different investment division could have used consulting materials received two years ago in the tender offer. Before continuing with such irresponsible claims, Korea Zinc should first clarify what investment was planned in 2022 and how that investment relates specifically to the current investment by MBK Partners 'Buyout' division acting as a white knight for Youngpoong."

MBK warned, "As we recently cautioned, Chairman Choi of Korea Zinc, acting as a management proxy, must immediately stop mobilizing the company's human and material resources to slander the largest shareholder. Instead, Chairman Choi should address numerous shareholder concerns before the extraordinary general meeting, including the damaged shareholder value, erroneous investments such as One Asia Partners and Ignio Holdings, legal risks related to market manipulation involvement in SM Entertainment, failure to execute treasury stock cancellation, and the timing of the planned capital increase."