2024-12-16
MBK falsely alleged that Korea Zinc has spent at least KRW 1.2 trillion under Chairman Yun B. Choi’s tenure without proper board oversight, while also claiming that these investments caused a corporate value loss of KRW 3.4 trillion.
To support these claims, MBK arbitrarily applied unfamiliar terms such as “Lost EBITDA Opportunity,” “Lost Enterprise Value Opportunity” and “Lost Shareholder Value Opportunity,” which are neither standard in accounting practices nor widely recognized in financial analysis. By using speculative assumptions and unverified data, MBK has attempted to mislead shareholders, the market, and the media, significantly damaging Korea Zinc’s reputation.
MBK has claimed that if Korea Zinc had allocated KRW 582 billion used to invest in new businesses including the resource recycling business, KRW 569 billion used to invest in funds unrelated to core businesses, and KRW 900 billion used for a share buyback into other projects, it could have generated KRW 3.4 trillion in value.
However, this assertion clearly demonstrates MBK’s lack of long-term vision and understanding of the new businesses Korea Zinc is pursuing. This also highlights MBK’s inability to manage the company in an effective way. MBK’s interpretation of Korea Zinc’s financial investment activities and business investments reflect a misunderstanding and appears to rely on selective data presentation.
※ Please refer to [Korea Zinc Refutes Misinformation, Reinforces Commitment to Shareholders and Long-term Strategy | AP News(click)] to read full article.
