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Yoonbeom Choi, Chairman of Korea Zinc. (photo= Korea Zinc) |
[Alpha Biz= Reporter Kim Sangjin] Hankook & Company, Husteel, and over 80 clients of Korea Zinc, including the Korea Gold Exchange, have expressed serious concerns regarding the hostile takeover bid by MBK Partners and Youngpoong. They fear potential overseas technology leaks and a decline in quality related to essential materials produced by Korea Zinc, such as zinc, lead, and semiconductor materials.
In a statement titled "Request for Maintenance of Korea Zinc Quality," the clients expressed their deep apprehension about the possible disruption of the highest level of product quality continuity.
Korea Zinc's key products are vital materials across various sectors of the national infrastructure industry. The company produces 650,000 tons of zinc annually, which is used for coating materials in automotive steel plates, pipes, and structural steel. Additionally, it produces 450,000 tons of lead, widely utilized in automotive batteries and wire cable industries.
Korea Zinc also produces 2,000 tons of silver per year, serving the electrical, electronic, and precious metal industries, including the solar energy sector. Furthermore, its production of semiconductor-grade sulfuric acid, amounting to 250,000 tons annually, is essential for global semiconductor companies.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
