2024-09-25
SEOUL, Sept. 25 (Yonhap) —Korea Zinc Inc., the world’s largest zinc smelter, has applied to the government for the designation of its technology as a national core technology, in an apparent move to fend off a potential takeover by Young Poong Corp. and MBK Partners, industry sources said Wednesday.
According to the sources, Korea Zinc has recently submitted an application to the Ministry of Trade, Industry and Energy to designate its technology as a national core technology, a status funded by the state to protect vital industries.
Under the Act on Prevention of Divulgence and Protection of Industrial Technology, companies with this designation require government approval for any foreign acquisition, safeguarding them for economic and security reasons.
If approved, the government could intervene in future foreign mergers and acquisitions, potentially altering the control dynamics at Korea Zinc.
※ Full Article: Korea Zinc seeks national core tech status to thwart tender offer by MBK, Young Poong (Yonhap, Sept. 25)
