koreatimes.co.kr

Korea Zinc Chairman Camp Wins Audit Seat to Strengthen Board Control

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Korea Zinc Chairman Choi Yun-beom’s camp beat the MBK Partners-Young Poong alliance for a new audit committee seat, strengthening its board majority. The vote follows a revised Commercial Act requiring firms with assets of at least 2 trillion won to elect two audit committee members separately from the rest of the board. Choi’s side backed Baek In-kyoo, while new voting rules reduced the effect of major shareholders’ stakes during the ongoing control battle since 2024.

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