Korea Zinc sinks 13% as largest shareholder group challenges U.S.-backed plans for Tennessee smelter

Korea Zinc's stock plunged over 13% after its largest shareholder, Young풍 (Youngpoong), publicly opposed the company's plans to build a $500 million recycling battery smelter in Tennessee with U.S. partner, Igneo. Youngpoong, which holds a 33% stake in Korea Zinc and is controlled by a relative of the founding family, expressed concerns about the project's financial viability, potential for excessive capital expenditure, and its commitment to existing zinc refining operations, escalating a long-standing governance dispute between the two factions of the founding family.