{"id":2206727,"date":"2024-10-09T08:00:10","date_gmt":"2024-10-08T23:00:10","guid":{"rendered":"https:\/\/koreapro.org\/?p=2206727"},"modified":"2024-10-08T15:59:46","modified_gmt":"2024-10-08T06:59:46","slug":"korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/","title":{"rendered":"Korea Zinc takeover battle triggers probe into stock manipulation concerns"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea\u2019s financial watchdog, the Financial Supervisory Service (FSS), <\/span><a href=\"https:\/\/www.fss.or.kr\/fss\/bbs\/B0000188\/view.do?nttId=187506&amp;menuNo=200218&amp;pageIndex=1\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> on Tuesday that it will investigate the fierce <\/span><a href=\"https:\/\/koreapro.org\/2024\/09\/takeover-battle-intensifies-as-investors-increase-bid-for-korea-zinc\/\"><span style=\"font-weight: 400;\">battle for control of Korea Zinc<\/span><\/a><span style=\"font-weight: 400;\">, the world\u2019s largest zinc smelter. The investigation will focus on possible illegal actions taken by Korea Zinc\u2019s management and its challengers, the private equity firm MBK Partners and Korea Zinc\u2019s largest shareholder, Young Poong Corp.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The FSS stated it will focus on attempts to manipulate Korea Zinc\u2019s stock prices. FSS chief Lee Bok-hyun ordered an immediate review, including scrutiny of rumors about Korea Zinc\u2019s plans to repurchase its own shares and cancel them at a higher price. Lee emphasized that any wrongdoing would result in strict penalties.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The investigation follows a series of escalating bids between MBK Partners, Young Poong and Korea Zinc, with the challengers raising their offer to about $615 (830,000 won) per share to match a counteroffer by Korea Zinc\u2019s management as both sides vie for control.<\/span><\/p>\n<p><b>WHY IT MATTERS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The FSS launched its investigation due to concerns that the sharp rise in Korea Zinc\u2019s stock price during the takeover battle could lead to significant losses for shareholders once the market corrects. By stepping in, the regulator seeks to maintain market integrity and protect shareholder value from volatility caused by the takeover efforts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the FSS finds that MBK Partners and Young Poong engaged in unfair trading practices, it could send a strong message against private equity-led takeovers focusing on short-term gains. This could discourage future private equity takeovers in South Korea. While this would protect companies from aggressive buyouts, it could also reduce investment activity, as private equity firms may hesitate to engage in deals if they fear excessive regulatory scrutiny.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The FSS\u2019s investigation could have a negative impact on other industries that depend on stable supplies of zinc and other materials. Any disruption to Korea Zinc\u2019s operations, whether from management instability or regulatory intervention, could drive up production costs and affect supply chains. This could impact South Korea\u2019s efforts to remain competitive in high-tech manufacturing.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s financial watchdog, the Financial Supervisory Service (FSS), announced on Tuesday that it will investigate the fierce battle for control of Korea Zinc, the world\u2019s largest zinc smelter. The investigation will focus on possible illegal actions taken by Korea Zinc\u2019s management and its challengers, the private equity firm MBK Partners and Korea Zinc\u2019s largest [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2206728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24],"class_list":["post-2206727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Korea Zinc takeover battle triggers probe into stock manipulation concerns - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Korea Zinc takeover battle triggers probe into stock manipulation concerns - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s financial watchdog, the Financial Supervisory Service (FSS), announced on Tuesday that it will investigate the fierce battle for control of Korea Zinc, the world\u2019s largest zinc smelter. The investigation will focus on possible illegal actions taken by Korea Zinc\u2019s management and its challengers, the private equity firm MBK Partners and Korea Zinc\u2019s largest [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-08T23:00:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-08T06:59:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/10\/eb-5.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"Korea Zinc takeover battle triggers probe into stock manipulation concerns\",\"datePublished\":\"2024-10-08T23:00:10+00:00\",\"dateModified\":\"2024-10-08T06:59:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/\"},\"wordCount\":353,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2024\/10\/korea-zinc-takeover-battle-triggers-probe-into-stock-manipulation-concerns\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/10\/eb-5.png\",\"keywords\":[\"Business &amp; 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