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.
