Korea Zinc, established 50 years ago under a unique power-sharing agreement between the Choi and Chang families, has become the world's largest zinc producer. However, a breakdown in their partnership has led to a vicious feud over control of the company, which holds significant importance as a key supplier of metals critical to global supply chains without Chinese ties. The Choi family is fighting to maintain management rights against a takeover bid by the Chang-controlled Young Poong, raising questions about the viability of traditional family-run conglomerates in South Korea amidst the push for Western-style corporate governance.
The longstanding partnership between the Choi and Chang families has spiraled into a fierce dispute over control of Korea Zinc, with implications for South Korea's chaebols.
Korea Zinc's significance has grown in a global context as it stands as one of the few major metals suppliers not connected to China, amplifying the stakes.
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