Kang Seong-du, left, president of Young Poong, speaks during a press conference in Seoul on Sept. 27, 2024. Newsis

Young Poong, which joined forces with private equity firm MBK Partners to secure control of the world's largest zinc smelter, Korea Zinc, finalized the agenda for its regular shareholders' meeting scheduled for March 27, including a stock split, stock and cash dividends and the appointment of internal and outside directors, the company said Thursday.

Additionally, proposals submitted by general shareholder Young Poong Precision, such as amendments to the articles of incorporation to introduce cumulative voting, will also be discussed at the meeting.

The agenda was finalized at the board meeting on Wednesday.

Young Poong Precision, an affiliate of Korea Zinc controlled by Chairman Choi Yun-beom and his family, holds approximately 3.6 percent of Young Poong's total outstanding shares.

It is reportedly seeking to introduce cumulative voting as a strategy to enable minority shareholders to nominate board candidates, thereby increasing oversight of Young Poong's management.

Young Poong, meanwhile, is pursuing a stock split as part of its efforts to enhance shareholder value.

If approved at the upcoming meeting, the par value of each share will be split at a 10:1 ratio from 5,000 won ($3.4) to 500 won.

In addition, the company has also decided to distribute both stock and cash dividends.

On Dec. 20 last year, its board decided on a stock dividend of 0.0350 shares per share. And at the latest board meeting, an additional cash dividend of 50 won per share was approved.

This would bring the total dividend per share to 17,200 won — approximately a 72 percent increase from the previous year.

“Through this regular shareholders' meeting, we plan to actively pursue shareholder-friendly policies aimed at enhancing shareholder value and strengthening management transparency,” a Young Poong official said.