Korea Zinc posts record half-year revenue of ₩12.445 trillion

  • Korea Zinc reported record first-half revenue and operating profit.
  • ₩12.445 trillion in revenue and ₩1.333 trillion in operating profit were recorded.
  • Korea Zinc will hold an extraordinary shareholders' meeting on the 9th.

Korea Zinc reported its largest-ever half-year results, with revenue of approximately ₩12.445 trillion ($9.3 billion) and operating profit of approximately ₩1.333 trillion ($991.3 million). The figures follow record annual revenue of ₩16.5879 trillion ($12.3 billion) and operating profit of ₩1.2319 trillion ($916.1 million) last year, while extending the company's annual operating-profit streak to 44 consecutive years. Chairman Choi Yun-beom's strategy has focused on diversifying beyond base metals through investments in precious and rare metals, copper recycling, semiconductor sulfuric acid and a Tennessee smelter. Korea Zinc's growth plan, including Troika Drive, has also begun generating revenue from copper foil supplied to global battery makers. Separately, Korea Zinc and the Young Poong–MBK Partners camp are contesting four independent-director seats and one audit committee seat at an extraordinary shareholders' meeting on the 9th. Cumulative voting (a system that lets shareholders concentrate votes) is expected to split the four independent-director seats evenly, making the audit committee seat decisive. The 3% rule (a voting cap for major shareholders and related parties) means institutional and retail investors may determine the result. The dispute is expected to continue into next March, when the terms of eight directors and one audit committee member expire.

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Korea Zinc posts record half-year revenue of ₩12.445 trillion - CoinPost Terminal