The labor union at Korea Zinc's Onsan Smelter said it would cooperate with the company's push to build and operate the U.S. Smelter. The union also demanded that Young Poong and MBK Partners step away from company management.

Korea Zinc union members stage a rally in front of the T Tower in Gwanghwamun, Seoul, where the MBK Partners office is located, in September last year. /Courtesy of Chosun DB

According to Korea Zinc on the 19th, the union stated accordingly on the 17th through a statement titled "We support and will cooperate with the construction of the Korea Zinc U.S. Smelter."

The union said, "We firmly believe that building the U.S. Smelter will be a decisive investment to secure the mid- to long-term growth base of Korea Zinc, the world's No. 1 nonferrous metals company with top-tier technology," adding, "We will cooperate to the fullest extent."

The union said, "If we establish a production base in the United States, where the U.S. government is investing and providing guarantees, we can in effect turn global risks such as export controls and logistics disruptions into opportunities, and there is no disagreement that this secures both business stability and growth potential."

At the same time, it said, "The mission of improving the rights and interests of Korea Zinc workers, creating jobs, and revitalizing the local economy must never be neglected," adding, "If workers' interests are infringed and job insecurity is caused, building a North American market base will be hard to win support."

Regarding the company's released large-scale investments—such as building germanium and gallium production facilities, establishing a next-generation strategic minerals research and development center, and constructing a hydrogen co-firing liquefied natural gas (LNG) power plant—the union said, "We hope these will definitely be carried out."

The union went on to say, "We warn the Young Poong–MBK Partners alliance," adding, "Do not hold the company back by filing a barrage of lawsuits with the sophistry that you do not oppose the construction of the U.S. Smelter while opposing it legally."

The union said, "Is Homeplus Co., where hundreds of thousands are on the verge of being driven into the streets, not enough? After countless suppliers and Homeplus Co. workers, will you also wage legal battles against the U.S. government?" adding, "MBK Partners, blinded solely by a grab for management control, should step away from Korea Zinc."

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