Youngpoong Precision shares up 7% as Korea Zinc battle continues

Shares in Youngpoong Precision rose sharply on Monday morning as the ongoing management dispute between Korea Zinc and MBK Partners intensified. The company’s stock was up 6.91 percent by 9:24 a.m., trading at 34,050 won ($25.29) on the Kosdaq and even surging over 9 percent at one point during the morning session.

Youngpoong Precision, which holds a 1.85 percent stake in Korea Zinc, is seen as a crucial player in the battle to control the company. According to media reports, Jerico Partners, a special purpose company established by Korea Zinc Chairman Choi Yoon-beom, Youngpoong Precision Chairman Choi Chang-gyu, and Korea Zinc Honorary Chairman Choi Chang-young, held a board meeting on Monday to discuss raising the tender offer price for Youngpoong Precision.

The stock price surge reflects market speculation that the tender offer will be increased, as Youngpoong Precision’s share price topped previous offers., MBK Partners initially offered 20,000 won per share for Youngpoong Precision in September 2024 before raising the offer to 25,000 won on September 26th. In response, the Choi family countered with a competing offer of 30,000 won per share, prompting MBK to match the Choi family’s bid.

Meanwhile, Samsung Electronics saw its stock slip again into the “50,000 won range” in early trading. Samsung Electronics was down 0.66 percent as of 9:12 a.m. to trade at 60,200 won. The stock hit a 52-week low of 59,500 won earlier in the session, down 1.82 percent. This marks the second time in two trading days that Samsung Electronics has fallen below the 60,000-won threshold.

In contrast, SK hynix was trading 2.7 percent higher at 178,800 won while Samsung Electronics has continued to struggle despite gains in tech stocks like Nvidia, which rose 1.7 percent on Wall Street on Friday.

Shares of defense companies also surged as geopolitical tensions in the Middle East continue. Hanwha Aerospace shares were up 6.37 percent as of 9:29 a.m., trading at 359,000 won after hitting a new 52-week high of 361,500 won during the session. This marks the third consecutive trading day of gains for Hanwha Aerospace.

Hyundai Rotem also hit a 52-week high, rising 4.91 percent to 60,000 won. Other defense stocks followed suit, with LIG Nex1 up 6.05 percent, Hanwha Systems gaining 4.59 percent, and SNT Dynamics rising 2.89 percent, all of which saw new highs during the session.