It is not unusual to see labor unions stationed in front of the venue on the day a company holds its general meeting. Typically, union voices are directed at management, demanding higher wages or improved working conditions.
However, the union's actions at Korea Zinc's four general meetings held from January last year through the 9th (two extraordinary and two regular meetings) were markedly different. Every time, members traveled by bus from the Ulsan smelter early in the morning to Seoul, wearing red headbands to show their determination to protect the current management. Even on the 9th, ahead of the extraordinary general meeting at Mondrian Hotel in Yongsan-gu, Seoul, union members chanted slogans such as "Korea Zinc is protected by us."
In response, Lee Eun-sun, a Korea Zinc Noh Jo-wi (Director), stated, "The union's judgment is based on who can safeguard the future of both Korea Zinc and its workers." She emphasized, "It is not enough to simply maintain current jobs; the company must continue to invest and grow in order to protect employment and pass on better workplaces to younger colleagues."
Indeed, within Korea Zinc, there is widespread criticism that if the major shareholder, Yeongpoong·MBK (private equity fund), secures control of the company, its competitiveness could be undermined. This concern stems from years of employees' hard work in building Korea Zinc into a key player within the global mineral supply chain, with fears that these efforts could come to nothing. In particular, employees who witnessed the series of incidents surrounding Homeplus after MBK's acquisition reportedly worry that "Korea Zinc could face a similar fate."
Regarding this, voices are being raised calling for Yeongpoong·MBK to go beyond attacking Choi (Chairman) and instead adopt an approach that considers the pride of Korea Zinc's general employees. One Korea Zinc employee remarked, "The company defamation by MBK is so severe it feels threatening," adding, "To reassure employees, such actions should be refrained from."
Lee (Chairman) stressed, "The technical expertise and on-site know-how accumulated over more than 50 years, along with the pride of our colleagues, cannot be bought overnight with money." It further stated, "Ensuring that Korea Zinc remains the world's leading smelting company even 50 years from now, and allowing younger employees to work here with pride, is the value that current employees most wish to protect." The statement concluded with, "We have worked our entire lives to build a world-class company. We question whether Yeongpoong·MBK truly understands and respects this pride."
in INDUSTRY
