Korea Joongang Daily
Korea JoongAng Daily

Korea Zinc retains upper hand over MBK-Young Poong side in contentious board elections

Korea Zinc retained the upper hand on Tuesday in its ongoing boardroom battle with its largest shareholder alliance of MBK Partners and Young Poong, filling more than half of the newly elected board seats with nominees aligned with the company.

2026-03-24

North American pension funds back Korea Zinc’s recommended board candidates

North American pension funds have voiced support for Korea Zinc’s recommended board candidates, including Chairman Choi Yun-birm, ahead of the smelter’s annual general meeting scheduled for Tuesday.

2026-03-23

Korea Zinc labor union blasts NPS for withholding vote to reappoint corporate chair to board

Korea Zinc’s labor union criticized the state-run pension fund’s decision to withhold its vote on the corporate chairman’s reappointment as an internal board member, calling it a failure to safeguard a national strategic industry.

2026-03-22

MBK chief Michael ByungJu Kim avoids arrest, but legal proceedings remain

The chairman of private equity firm MBK Partners, Michael ByungJu Kim, and several executives were arrested on Tuesday on charges of fraud and violation of the Capital Markets Act in relation to Homeplus.

2026-01-14

Homeplus fraud pegged at $79M as MBK Chairman Kim faces warrant review

Prosecutors estimate that 116.4 billion won ($86 million) in alleged fraud was committed in relation to Homeplus as they move against the executives of MBK Partners, the owner of the beleaguered retail chain.

2026-01-12

Chairman of MBK Partners faces arrest warrant hearing this week

The chairman of private equity firm MBK Partners, Kim Byung-ju, and three other senior executives, were set to face a hearing this week on whether to issue arrest warrants for them over questionable sales of short-term bond of retailer Homeplus.

2026-01-11

Prosecutors request arrest warrant for chairman of MBK Partners over Homeplus

Prosecutors have sought a warrant for the chairman of private equity firm MBK Partners, Kim Byung-ju, to question him over the management of troubled retailer Homeplus, according to sources familiar with the matter Thursday.

2026-01-08

Seoul court dismisses injunction, paving way for Korea Zinc’s U.S. smelter investment

A Seoul court on Wednesday dismissed an injunction sought by MBK Partners-Young Poong alliance against Korea Zinc, clearing the way for the company’s plan to issue third-party shares for its $7.4 billion investment project in the United States.

2025-12-24

FSS proposes heavy sanctions against MBK Partners over investor fund violations in Homeplus case

The Financial Supervisory Service (FSS) has issued a preliminary notice of heavy disciplinary action against MBK Partners in relation to its acquisition of retailer Homeplus.

2025-11-23

MBK Partners Chairman apologizes for Homeplus scandal

Homeplus CEO Kim Kwang-il, left, and MBK Partners Chairman Michael ByungJu Kim listen to lawmakers’ questions during the annual parliamentary audit. During the session, Chairman Kim issued a public apology over the Homeplus scandal.

2025-10-14