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Korea Zinc Chairman Tightens Grip After Winning Three of Five Board Seats

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Korea Zinc (KRX:010130) Chairman Yun B. Choi strengthened his control after winning three of five board seats at Wednesday's shareholder vote, giving him and allies 12 of the refiner's 19 board seats, Bloomberg News reported.

Choi's group controls just under 38% of voting shares, while rival Young Poong (KRX:000670) and MBK Partners hold seven seats despite support from investors representing 41% of shares, the report said.

Shares of Korea Zinc fell nearly 1% in recent trade, while those of Young Poong declined about 2%.

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