Lawsuit Seeking to Prevent Unfair Trade Practices Still Ongoing
The injunction filed by Youngpoong, which is in a management dispute with Korea Zinc, claiming that Korea Zinc's refusal to handle sulfuric acid on its behalf was unfair, has been dismissed by the court.
On August 8, Korea Zinc announced that the Seoul Central District Court had dismissed Youngpoong's injunction request.
Youngpoong filed a lawsuit against Korea Zinc in June and July last year, seeking to prevent unfair trade practices regarding the refusal to renew the sulfuric acid handling contract. In addition, on August 2, Youngpoong filed for an injunction to prohibit refusal of transaction.
Since 2000, Youngpoong has been using, for a fee, the sulfuric acid tanks and pipelines at Korea Zinc's Onsan Smelter to transport sulfuric acid produced at its Seokpo Smelter in Bonghwa, North Gyeongsang Province, to Onsan Port in Ulsan. When Korea Zinc terminated this contract in April last year, Youngpoong initiated legal action.
The court stated, "Korea Zinc merely notified the termination of the contract in accordance with its terms, and this cannot be regarded as conduct equivalent to coercive purchase, forced provision of benefits, or imposition of sales targets."
A Korea Zinc representative commented, "This court decision is significant in that it puts a stop to Youngpoong's irresponsible behavior of shifting the burden of handling hazardous materials and safety risks onto Korea Zinc, without securing sufficient sulfuric acid processing capacity."
Separately from the injunction, the second hearing for the lawsuit seeking to prevent unfair trade practices is scheduled for August 14.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
