Korea Zinc (010130) Chairman Choi Yoon-birm and the MBK Partners-Young Poong (000670) camp each secured two independent directors at the company's extraordinary shareholders meeting.
Korea Zinc approved a proposal to elect four independent directors at its 53rd extraordinary general meeting, held on the 9th at the Montrian Hotel Itaewon in Seoul's Yongsan district.
Four candidates were elected: Lee Hyung-kyu, professor emeritus at Hanyang University School of Law, and Suh Eun-sook, professor of economics and finance at Sangmyung University, both nominated by Korea Zinc; and attorney Shim Hye-seop and Lee Joon-bong, professor at Sungkyunkwan University Law School, both backed by Young Poong and MBK Partners.
The vote was conducted under cumulative voting, a system that grants each share as many votes as the number of directors to be elected when a company appoints two or more directors. Shares represented at the meeting totaled 18,649,800, giving a total of 74,599,200 exercisable votes, or four times the shares present.
Shim finished first with 18,830,581 votes, followed by Lee Joon-bong with 18,830,848 votes in second place, Lee Hyung-kyu with 18,378,096 votes in third and Suh with 1,805,829 votes in fourth.
