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KRX:010130

8 stories mentioning KRX:010130Updated just now

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Asia

Seoul Court Dismisses Young Poong, Korea Corporate Investment Holdings' Voting Rights Injunction in Korea Zinc

The Seoul Central District Court on Monday dismissed applications by Young Poong Corp. (KRX:000670) and Korea Corporate Investment Holdings seeking a preliminary injunction to prohibit the exercise of voting rights in Korea Zinc (KRX:010130).The ruling was issued on Friday, Sept. 4, and confirmed on Sept. 7, according to a Monday filing with the Korea Exchange.The court said it was difficult to conclude that the alleged reporting issues had sufficient grounds for the injunction, including whether information on a lender was material or whether false or intentionally omitted disclosures had been made.Shares of Young Poong Corporation rose nearly 1% in recent trade.

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Asia

Supreme Court Rules in Favor for Korea Zinc, Dismisses Creditor Injunctions

The Supreme Court partially ruled in favor of Korea Zinc (KRX:010130) by overturning a lower court decision that had suspended one of its shareholder resolutions.The court also dismissed injunction applications from some creditors, citing them as legally invalid, according to a bourse filing on Monday.The creditor, Korea Corporate Investment, withdrew its own injunction request back in April and since the main party dropped its case, there was nothing left for MJ Partners and YPC to join or support.Agenda Item 1-8 became legally moot and effectively dead because the company subsequently passed a new resolution on the same matter at its annual general meeting, rendering the original extraordinary general meeting resolution no longer in effect.

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Asia

Young Poong and Korea Corporate Investment Seek Court Order to Block Voting Rights at Korea Zinc EGM

Young Poong (KRX:000670) and Korea Corporate Investment have filed a preliminary injunction with the Seoul Central District Court seeking to prohibit 14 individuals and P23 Partners from exercising voting rights at Korea Zinc's (KRX:010130) upcoming EGM on Sept. 9.The plaintiffs are invoking provisions under the Financial Investment Services and Capital Markets Act and the Korean Commercial Act to restrict voting on all agenda items.The injunction targets specific shareholders for the shares listed in the accompanying schedule, with the value of the subject matter set at 100 million won, according to a bourse filing on Wednesday.Korea Zinc confirmed receipt of the application on Aug. 26 and stated its intention to respond through proper legal channels.Young Poong is the largest shareholder of Korea Zinc, holding about 25.4% of its shares.

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Asia

Korea Zinc Says Seoul Court Appoints Inspector to Examine Legality of EGM Procedures

Korea Zinc (KRX:010130) said the Seoul Central District Court appointed Attorney Jeong as an inspector to examine the legality of the procedures for convening its extraordinary general meeting and the methods for adopting resolutions on Sept. 9.The company said the appointment follows the applications filed by Young Poong Corp., Korea Corporate Investment Holdings, and YPC, which collectively hold about 1% in the company.The court ruled that the applicants must deposit the inspector's remuneration by Aug. 31, set at 6.6 million won, which will ultimately be borne by the company.

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Asia

MBK Partners Threatens Legal Action Against Korea Zinc Ahead of EGM

MBK Partners has threatened to sue Korea Zinc's (KRX:010130) management over allegedly false claims about its portfolio companies, the Korea Times reported Thursday, citing a company official.MBK objected to explanatory materials posted by management, alleging selective and distorted performance data of portfolio executives, the news daily said.Korea Zinc will hold an extraordinary general meeting on Sept. 9 to vote on five outside directors, including two nominated by MBK Partners and Young Poon Alliance, according to an investor presentation.An independent audit committee director will also be elected, with one MBK candidate in the running, the report said.

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Asia

Korea Zinc's Profit Climbs 30% in Q2

Korea Zinc (KRX:010130) recorded a net income of 427.4 billion won in the second quarter of 2026, up 30% from 328.1 billion won a year prior.Sales increased 64% year over year to 4.046 trillion won from 2.461 trillion won, according to a Wednesday South Korea bourse filing.The company recorded a dividend of 5,000 won per share, payable Sept. 4 to shareholders of record on Aug. 20.Korea Zinc shares closed nearly 5% higher Wednesday.

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Asia

Korea Zinc Says No Further Developments on Young Poong's Criminal Complaint Against Board Members

Korea Zinc (KRX:010130) said there have been no confirmed developments in the criminal complaint filed against Chairman Choi Yun-beom and two others since its clarification disclosure on Oct. 2, 2024, according to a company filing on Tuesday with the Korea Exchange.This filing is Korea Zinc's final update to its Oct. 2, 2024, clarification regarding a Business Herald report that Young Poong Group (KRX:000670) had filed a criminal complaint against Korea Zinc board members.

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Asia

Seoul Court Orders Korea Zinc CEO to Pay 100 Million Won to Shareholder

The Seoul Central District Court has ordered Korea Zinc's (KRX:010130) CEO Park Ki-deok to pay 100 million won in damages to YoungPoong, the company's largest shareholder.The court found Park had unlawfully restricted YoungPoong's voting rights at an extraordinary general meeting.The court ruled that Park acted despite being aware of the potential illegality of interpreting Sun Metals Corporation as a subsidiary under the Korean Commercial Act, thereby depriving YoungPoong of its voting rights and undermining shareholder equality.A separate claim by Korea Enterprise Investment, a specially related party that had partnered with YoungPoong, was dismissed as the court found no direct infringement of its legal interests, according to a bourse filing on Monday.The decision, which includes 12% annual interest from March 27, 2025, was confirmed on Monday, following the July 10 court ruling.

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