Private equity firm MBK Partners has confirmed that it has no intention of selling Korea Zinc Inc. to China following its recent acquisition of a 15 percent stake in the world's largest zinc smelter. The firm announced its plans to acquire shares in Korea Zinc through a tender offer worth 2 trillion won ($1.5 billion) in collaboration with Young Poong, the company's largest shareholder holding a 33 percent stake. MBK Partners stressed that the purpose of the share purchase is to enhance governance at Korea Zinc and work together with Young Poong amidst a management dispute that arose in 2022. Despite concerns raised by the public over the possibility of a foreign sale due to perceived Chinese influence on MBK Partners, the firm's Vice President Kim Kwang-il emphasized that Korea Zinc, a crucial national industrial entity, will not be sold to China. The ongoing conflict between the founding families of Korea Zinc and Young Poong, intensified by the recent leadership changes within the company, has further complicated the situation and resulted in a hostile takeover bid being opposed by Korea Zinc.