Korea Zinc, one of the world’s largest producers of refined zinc and nonferrous metals, outlined a strategy to become a global critical minerals platform as it marked its 52nd anniversary, with Chairman Choi Yun-beom highlighting U.S. expansion, new growth businesses and long-term investment despite an ongoing battle for corporate control.
The company said on August 2 that Choi presented the vision in a commemorative address delivered on July 31, calling on employees to build on Korea Zinc’s legacy as a world-class smelting company.
“Just as we built one of the world’s leading smelters over the past half-century, let’s write another success story together in the global market,” Choi said.
A centerpiece of that strategy is Project Crucible, Korea Zinc’s planned integrated smelting complex in Tennessee, which the company views as a key investment in strengthening its position within the U.S. critical minerals supply chain.
Choi said the name “Crucible” reflects both its literal meaning as a vessel used to melt and refine metals and its symbolic significance as a place where intense heat creates new value, making it an apt representation of Korea Zinc’s identity and long-term vision.
He said the company would continue building momentum until the Tennessee project is completed and becomes another core production base.
Choi also highlighted Korea Zinc’s Troika Drive strategy, which focuses on renewable energy, green hydrogen, battery materials and resource recycling, saying the company’s diversification efforts are beginning to generate tangible results beyond its core smelting operations.
The chairman also addressed the management dispute with major shareholder Young Poong Corp. and private equity firm MBK Partners, which has entered its second year.
Choi acknowledged that the battle for corporate control had brought “deep reflection, conflict and difficult moments,” but said it ultimately reinforced the company’s determination to pursue its long-term strategy
“Now that Project Crucible is underway and we are fully committed to achieving our vision together, I am convinced that what once seemed painful and difficult to understand may have marked the beginning of a tremendous opportunity,” he said.
