MBK Partners and Young Poong, the largest shareholders of Korea Zinc, have slammed Korea Zinc's criminal complaint against them over the alleged unauthorized use of a US project name. The complaint was filed on Wednesday, according to sources familiar with the matter.
The dispute centers on the name of a US subsidiary project, which Korea Zinc claims was used without permission. MBK and Young Poong dismissed the complaint as a baseless distraction, arguing that it is an attempt to divert attention from governance issues.
This legal clash is the latest in an ongoing feud between Korea Zinc's management and its major shareholders, who have been at odds over board control and strategic direction. The conflict has drawn attention from investors and regulators in South Korea.
Neither Korea Zinc nor MBK Partners has provided further details on the specific project name in question. The case is expected to proceed through the South Korean legal system.
