In the midst of the escalating dispute surrounding the management of Korea Zinc, the largest zinc smelter globally, a Young Poong executive emphasized on Friday that the company found itself in a dire situation after its long-standing partnership with Korea Zinc came to an end. Young Poong President Kang Seong-doo revealed at a press conference that the company had to relinquish its position as the largest shareholder of Korea Zinc to MBK Partners as a last resort to salvage both Korea Zinc and Young Poong. The alliance with MBK was described as a desperate measure to ensure the survival and prosperity of both companies. Following MBK's decision to increase the tender offer price for Korea Zinc to 750,000 won per share, up from the previous 660,000 won, speculations arose regarding the future of Korea Zinc's management under Chairman Choi Yun-beom. Reports indicated that Choi's team was exploring options to secure control over the company, including reaching out to global private equity funds like Kohlberg Kravis Roberts and Bain Capital. Despite concerns raised by the US think tank SAFE about a potential "hostile takeover attempt" by MBK and Young Poong, Kang dismissed rumors of selling Korea Zinc to Chinese capital, affirming that under his and MBK Partners Vice Chairman Kim Kwang-il's supervision, such a scenario would not materialize. Additionally, Korea Zinc's application to have its technology designated as a national core technology aimed to thwart any foreign acquisition, although Kang stressed that discussions about selling the company were premature as control had not yet been secured.