Things got heated at Korea Zinc’s latest shareholder meeting, marking another chapter in the long-running feud between the two families behind the company. What was supposed to be a decisive moment in their battle for control ended up setting the stage for a likely legal showdown.

The dispute pits the Choi family, which currently manages the metals producer, against the Chang family, which controls Young Poong, Korea Zinc’s largest shareholder. Both families trace their involvement back to the company’s founding 50 years ago.

The drama reached new heights when Korea Zinc’s chairman, Yun B. Choi, made a surprise move just before the meeting. By taking steps to invalidate votes held by Young Poong, he thwarted their attempt to remove him from leadership. This bold maneuver has only deepened the rift between the two sides.

This feud isn’t just a family spat—it’s a high-stakes test for South Korea’s corporate landscape. The country’s family-run conglomerates, known as chaebols, are being challenged to adapt to more modern, Western-style governance. Adding to the mix is Seoul-based private equity firm MBK Partners, which is eyeing opportunities to shake up the status quo.

Korea Zinc’s significance goes beyond its boardroom battles. As a key supplier of metals critical to global supply chains—and one of the few not tied to China—the company plays a vital role in geopolitics.

With tensions still running high, this story is far from over. Stay tuned for the next twist in this corporate saga.