The proposed deal comes as tensions over management control of Korea Zinc have grown in recent years. Since Choi Ki-ho and Chang Byung-hee co-founded Young Poong more than 70 years ago, the families have built it into a massive conglomerate, holding key shareholdings in businesses such as Korea Zinc. When Korea Zinc was founded in 1974, the two families held equal shares in Young Poong. But Chang's two sons ended up with a bigger share over time as they maintained most of their stake within the family. But Choi family's stake was divided among his five sons and got diluted over time. When Choi took over as the chairman of Korea Zinc in 2022, his big and expensive push into battery metals and renewable energy became the flashpoint between the families. Choi has said his new growth strategy was made to ensure sustainability of Korea Zinc, which depends heavily on carbon-intensive smelting business.