Reported 4 days ago
Korea Zinc CEO Yun B. Choi successfully maintained his position and control over the board after a contentious shareholder meeting, where he outmaneuvered the company’s largest investor, Young Poong Corp., which sought more representation. Despite Young Poong achieving significant support, Korea Zinc utilized a strategic share purchase to prevent them from voting a substantial stake, leading to a ruling against Young Poong’s attempt to regain full voting power. This meeting highlighted ongoing tensions in South Korea's corporate governance and saw mixed reactions to governance strategies from proxy advisory firms.
Source: YAHOO