[Exclusive] U.S. Political Circles Express Concerns Over MBK’s “Hostile M&A” of Korea Zinc

Representative Mariannette Miller-Meeks Also Sends Letter to the Department of Commerce
“If Acquired by MBK, China’s Control Over Key Minerals Could Strengthen”
“Firm Action Needed to Build Independent U.S. Supply Chain”, ‘[Reporter Jina Ha from E-Daily] Concerns over Korea Zinc, which is embroiled in a management dispute with the Youngpoong-MBK Partners consortium, are being raised in U.S. political circles. U.S. Congresswoman Mariannette Miller-Meeks sent a letter to the U.S. Department of Commerce expressing concerns about MBK Partners’ attempted hostile takeover (M&A) of Korea Zinc.’,
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, ‘On the 5th (local time), Representative Miller-Meeks announced via her social media platform X (formerly Twitter) that she had sent this letter to the Department of Commerce’s Deputy Secretary Diane Farrell.’,
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, ‘According to her, Representative Miller-Meeks stated, “Recent reports indicate that companies linked to China are attempting to gain control of Korea Zinc, the world’s largest non-ferrous metal company, through a hostile M&A led by MBK Partners. The non-ferrous metal smelting industry is an area with significant Chinese influence, and independent companies like Korea Zinc play a crucial role in the supply of key minerals currently under export control by China.”’,
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, ‘Representative Miller-Meeks, a Republican from Iowa and a former military officer, currently serves on the U.S. House Committee on Energy and Commerce in the Energy Subcommittee.’,
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, ‘She continued, “External analysis conducted by the security think tank SAFE (Securing America’s Future Energy) raises concerns that if MBK Partners’ hostile M&A succeeds, China’s control in the key minerals sector could further strengthen. The U.S. must take firm action to ensure that our supply chains, which support our economy and defense, are not dominated by hostile foreign forces.”’,
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, ‘Furthermore, she said, “To achieve this, we must focus on strengthening domestic mineral extraction and refining capabilities, expanding investment and supply chain cooperation with allies, and reducing dependence on hostile nations.” She added, “The Minerals Security Partnership (MSP), chaired by South Korea, presents an important opportunity to enhance cooperation with nations that share our values.”’,
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, ‘Previously, Representatives Eric Swalwell and Zach Nunn also highlighted the necessity of building a supply chain for key minerals, which are monopolized by China, emphasizing the importance of Korea Zinc. Recently, China has implemented export control measures on four essential minerals — antimony, indium, bismuth, and tellurium — which are critical to U.S. manufacturing and defense technology.’,
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, ‘In response, MBK has reiterated that only 5% of its fund investors are Chinese and assured that, even if it acquires Korea Zinc, it will not sell to China.’,
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