Young Poong and MBK Partners, the largest shareholder alliance in Korea Zinc, rejected claims Sunday that they have changed their stance ahead of the zinc smelter’s upcoming shareholders’ meeting. The alliance said its stance has remained unchanged, pushing back against criticism from Korea Zinc Chairman Choi Yun-beom’s camp that it is trying to revive proposals it previously opposed and even challenged in courts. The alliance has been locked in a management control battle with Choi since launching a tender offer on Sept. 13, 2024. “The extraordinary shareholders’ meeting held in January 2025 was not conducted under normal circumstances, as Korea Zinc created an unlawful cross-shareholding structure shortly before the meeting, effectively stripping Young Poong, the largest shareholder, of its voting rights and disrupting the proceedings,” the alliance argued. It said courts later ruled that the restriction on voting rights was illegal and ordered the suspension of several resolutions adopted at the meeting. Both the district and appellate courts recognized the illegality of t