[Alpha Biz=(Chicago) Reporter Kim Jisun] Choi Yoon-beom, chairman of Korea Zinc, and related parties are speeding up their purchase of stakes in Korea Zinc this month.

While securing Hyundai Motor Group, which will have a 5% stake in Korea Zinc with a third-party paid-in capital increase next month, the move is interpreted as a move to widen the gap with Chairman Jang Hyung-jin of Youngpoong's side through the purchase of additional shares.

Analysts say that Chairman Choi's plan to break up the partnership with the Jang family, which has continued for more than 70 years, is being embodied in order to realize the idea of converting Korea Zinc into a secondary battery material and hydrogen business company.

According to the Financial Supervisory Service's electronic disclosure system on the 13th, Chairman Choi and related parties purchased 15,286 shares (0.08%) of Korea Zinc this month. Chairman Choi as well as 15 family members helped by buying stakes.

As a result, the share of Choi and related parties rose slightly to 16.03%, and if Hanwha Group (8.08%), LG Chem (1.97%), and Hankook Tire (0.78%) are combined, Choi's share reached 28.62%.

The share of Chairman Jang, who is at odds with Chairman Choi, is 33.22%, adding 5.12%, who has a special relationship with Chairman Chang, 26.11% of Youngpoong Co., Ltd., and △HC.

Chairman Jang has spent about 100 billion won from March to recently to collect about 200,000 shares of Korea Zinc. The competition to buy the stake has developed into a competition between the Choi and Chang families, with Chairman Chang's nephew Jang Se-wook, vice chairman of Classics, also buying shares of Korea Zinc with his own money.

Amid such fierce competition between the two sides to buy shares, Chairman Jang is 4.6 percentage points ahead of Chairman Choi. However, when Hyundai Motor Group's new shares are listed on the 6th of next month, Chairman Choi's stake will slightly surpass Chairman Jang's.

Hyundai Motor Group announced earlier on the 30th of last month that HMG Global, an overseas corporation established by Hyundai Motor, Kia and Hyundai Mobis, will secure a 5% (1,045,430 shares) stake in Korea Zinc through a third-party paid-in capital increase.

HMG Global is a US subsidiary established by Hyundai Motor Group last year with the aim of investing in new business and future strategies. The total paid-in capital increase is 527.2 billion won.

 

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