Young Poong and MBK Raise Korea Zinc Fund Loss Estimate to 39 Billion Won
Young Poong and MBK Partners alleged ahead of an extraordinary shareholders meeting that Korea Zinc-backed private equity funds invested more than previously disclosed into businesses tied to Chairman Choi Yoon-birm’s family. They said a One Asia Partners fund, largely financed by Korea Zinc, put 10 billion won into Focus ENG, raising the reported loss at risk to 39 billion won from 29 billion won. They also cited trial records linking related investments.