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SEOUL, South Korea--( BUSINESS WIRE )-- Korea Zinc (KRX:010130), the world's leading non-ferrous smelting company, successfully hosted its first investor relations event, the "2023 Investor Day," and presented its future vision and growth strategy for the next ten years to stakeholders.

The event was held at the Conrad Hotel in Yeouido, Seoul from 2 p.m. on the 7th, with presentations devoted to three topics such as smelting business, Troika Drive, and sustainable management. The event was held amidst great interest from investors, as analysts projected that Korea Zinc will benefit most directly from the recent announcement of the US government's guidance on Foreign Entities of Concern (FEOC) and was followed by a heated Q&A session. Korea Zinc has moved past its perception as a dividend stock with stable performance, to a growth stock with great potential.

Through the Investor Day, Korea Zinc announced its ambition to expand into new businesses, taking a step further from its past growth strategy based on innovation in the smelting business and leveraging its leading smelting technologies and capabilities accumulated over the past half-century in the field of non-ferrous metal smelting. Korea Zinc unveiled a ‘quantum jump’ strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033. To this end, the company will bring sales from the Troika Drive businesses to KRW 12.2 trillion by 2033, contributing almost half of the total revenue of 2033. Korea Zinc expressed the confidence to achieve an average annual growth rate of 10% over the next 10 years.

Founded as a non-ferrous metal smelter in 1974, Korea Zinc posted record-high earnings in 2022 with positive operating results for the 95th consecutive quarter. Looking to the next 10 years, Korea Zinc plans to maximize profitability by expanding the sales of high-purity electrolytic copper and semiconductor sulfuric acid in the smelting business and secure future growth drivers such as renewable energy, secondary batteries, and resource recycling, building on its competitiveness in the smelting business. At the same time, the company intends to fulfill its role as a global leader through ESG management. By doing so, Korea Zinc aims to achieve its revenue target of KRW 25.3 trillion in 2033 and continue its journey to carbon neutrality in 2050.

Smelting Business

For the smelting business, which displayed positive operating results for the 95th consecutive quarter since 2000, Korea Zinc pledged to focus more on profitability and competitiveness and defend its dominant position in the global non-ferrous metal smelting market. Korea Zinc is the world’s largest smelter, singlehandedly commanding 8.4% and 9.3% of the global zinc and lead markets, respectively, in the fourth quarter of 2022, according to Wood Mackenzie, a global research firm. Korea Zinc plans to increase production efficiency by rationalizing its production processes to address variables such as declines in treatment charges (TC) and increases in electricity prices. Korean Zinc will deploy an integrated process designed to maximize the recovery of four major non-ferrous metals, i.e., zinc, lead, copper, and nickel with the scheduled completion of an all-in-one nickel refinery in 2026. Korea Zinc also presented electrolytic copper and semiconductor sulfuric acid as future growth drivers for the smelting business. With these measures in place, Korea Zinc targets to expand smelting revenue to KRW 13 trillion by 2033.

Troika Drive

For the Troika Drive businesses, Korea Zinc will proactively seek new business opportunities, taking advantage of its competitive smelting technology. To drive a paradigm shift to ‘Green Metal’, Korea Zinc is committed to actively promoting three businesses—renewable energy/green hydrogen, secondary battery materials, and resource recycling. In addition, the company will take full advantage of the positive impact of the US government’s recent guidance on Foreign Entities of Concern (FEOC), to expand its business. In doing so, Troika Drive businesses target to achieve a revenue of KRW 12.2 trillion by 2033, with a steady investment of KRW 11.9 trillion over the next 10 years.

Sustainable Management

The 2050 Carbon Neutrality Roadmap was the highlight of Korea Zinc’s ESG management strategy designed to ensure sustainable management and establish a green production system. As part of the roadmap, Korea Zinc plans to reduce carbon emissions by 40% from 2020 to 2040 and an additional 60% by 2050. For safety management, Korean Zinc expanded its safety-related budget by 2.5-fold year-on-year to KRW 100 billion and increased the number of safety-related personnel 5-fold from 26 in 2022 to 131 persons in 2023. Meanwhile, led by the Safety Innovation Committee, Korea Zinc is set to chart out a roadmap in 2024 to enhance workplace safety and health with full implementation scheduled for 2027. Korea Zinc will also align its supply chain with global ESG standards on environment, human rights, and safety and further expand responsible minerals sourcing.

Financing & shareholder Return

Korea Zinc also unveiled its shareholder return policy as well as plans to secure financing for existing and new businesses in the mid- to long-term. For the next 10 years, Korea Zinc will implement various shareholder return policies valued at around KRW 4 trillion, including dividend payout, share buyback, and cancellation.

The two-hour IR event was well-received by attendees. Korea Zinc presented various customized response strategies amidst various external threats such as the global economic downturn, which was enough to gain the market’s trust in the company’s future growth. In particular, Korea Zinc presented growth targets for the next 10 years that exceeded expectations and expanded attention beyond its smelting business, toward its various businesses such as secondary batteries and resource recycling.

In addition, the company broke existing stereotypes that it had a conservative culture regarding disclosures, only providing minimal information, and differentiated from other companies by providing detailed data and figures.

“Looking to the next 10 years, Korea Zinc is committed to concentrating its resources and capabilities on the Troika Drive businesses on top of the existing smelting business. Korea Zinc will maximize shareholders’ value and ensure sustainable management, while continuously engaging shareholders, investors, and other stakeholders,” said Korea Zinc’s spokesperson upon the successful hosting of its first Investor Day.

Hong Hyesil +82-2-519-3691

korea zinc presentation

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Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033

Korea Zinc (KRX:010130), the world's leading non-ferrous smelting company, successfully hosted its first investor relations event, the "2023 Investor Day," and presented its future vision and growth strategy for the next ten years to stakeholders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231207479210/en/

Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033 (Photo: Korea Zinc)

Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033 (Photo: Korea Zinc)

The event was held at the Conrad Hotel in Yeouido, Seoul from 2 p.m. on the 7th, with presentations devoted to three topics such as smelting business, Troika Drive, and sustainable management. The event was held amidst great interest from investors, as analysts projected that Korea Zinc will benefit most directly from the recent announcement of the US government's guidance on Foreign Entities of Concern (FEOC) and was followed by a heated Q&A session. Korea Zinc has moved past its perception as a dividend stock with stable performance, to a growth stock with great potential.

Through the Investor Day, Korea Zinc announced its ambition to expand into new businesses, taking a step further from its past growth strategy based on innovation in the smelting business and leveraging its leading smelting technologies and capabilities accumulated over the past half-century in the field of non-ferrous metal smelting. Korea Zinc unveiled a ‘quantum jump’ strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033. To this end, the company will bring sales from the Troika Drive businesses to KRW 12.2 trillion by 2033, contributing almost half of the total revenue of 2033. Korea Zinc expressed the confidence to achieve an average annual growth rate of 10% over the next 10 years.

Founded as a non-ferrous metal smelter in 1974, Korea Zinc posted record-high earnings in 2022 with positive operating results for the 95th consecutive quarter. Looking to the next 10 years, Korea Zinc plans to maximize profitability by expanding the sales of high-purity electrolytic copper and semiconductor sulfuric acid in the smelting business and secure future growth drivers such as renewable energy, secondary batteries, and resource recycling, building on its competitiveness in the smelting business. At the same time, the company intends to fulfill its role as a global leader through ESG management. By doing so, Korea Zinc aims to achieve its revenue target of KRW 25.3 trillion in 2033 and continue its journey to carbon neutrality in 2050.

Smelting Business

For the smelting business, which displayed positive operating results for the 95th consecutive quarter since 2000, Korea Zinc pledged to focus more on profitability and competitiveness and defend its dominant position in the global non-ferrous metal smelting market. Korea Zinc is the world’s largest smelter, singlehandedly commanding 8.4% and 9.3% of the global zinc and lead markets, respectively, in the fourth quarter of 2022, according to Wood Mackenzie, a global research firm. Korea Zinc plans to increase production efficiency by rationalizing its production processes to address variables such as declines in treatment charges (TC) and increases in electricity prices. Korean Zinc will deploy an integrated process designed to maximize the recovery of four major non-ferrous metals, i.e., zinc, lead, copper, and nickel with the scheduled completion of an all-in-one nickel refinery in 2026. Korea Zinc also presented electrolytic copper and semiconductor sulfuric acid as future growth drivers for the smelting business. With these measures in place, Korea Zinc targets to expand smelting revenue to KRW 13 trillion by 2033.

Troika Drive

For the Troika Drive businesses, Korea Zinc will proactively seek new business opportunities, taking advantage of its competitive smelting technology. To drive a paradigm shift to ‘Green Metal’, Korea Zinc is committed to actively promoting three businesses—renewable energy/green hydrogen, secondary battery materials, and resource recycling. In addition, the company will take full advantage of the positive impact of the US government’s recent guidance on Foreign Entities of Concern (FEOC), to expand its business. In doing so, Troika Drive businesses target to achieve a revenue of KRW 12.2 trillion by 2033, with a steady investment of KRW 11.9 trillion over the next 10 years.

Sustainable Management

The 2050 Carbon Neutrality Roadmap was the highlight of Korea Zinc’s ESG management strategy designed to ensure sustainable management and establish a green production system. As part of the roadmap, Korea Zinc plans to reduce carbon emissions by 40% from 2020 to 2040 and an additional 60% by 2050. For safety management, Korean Zinc expanded its safety-related budget by 2.5-fold year-on-year to KRW 100 billion and increased the number of safety-related personnel 5-fold from 26 in 2022 to 131 persons in 2023. Meanwhile, led by the Safety Innovation Committee, Korea Zinc is set to chart out a roadmap in 2024 to enhance workplace safety and health with full implementation scheduled for 2027. Korea Zinc will also align its supply chain with global ESG standards on environment, human rights, and safety and further expand responsible minerals sourcing.

Financing & shareholder Return

Korea Zinc also unveiled its shareholder return policy as well as plans to secure financing for existing and new businesses in the mid- to long-term. For the next 10 years, Korea Zinc will implement various shareholder return policies valued at around KRW 4 trillion, including dividend payout, share buyback, and cancellation.

The two-hour IR event was well-received by attendees. Korea Zinc presented various customized response strategies amidst various external threats such as the global economic downturn, which was enough to gain the market’s trust in the company’s future growth. In particular, Korea Zinc presented growth targets for the next 10 years that exceeded expectations and expanded attention beyond its smelting business, toward its various businesses such as secondary batteries and resource recycling.

In addition, the company broke existing stereotypes that it had a conservative culture regarding disclosures, only providing minimal information, and differentiated from other companies by providing detailed data and figures.

“Looking to the next 10 years, Korea Zinc is committed to concentrating its resources and capabilities on the Troika Drive businesses on top of the existing smelting business. Korea Zinc will maximize shareholders’ value and ensure sustainable management, while continuously engaging shareholders, investors, and other stakeholders,” said Korea Zinc’s spokesperson upon the successful hosting of its first Investor Day.

korea zinc presentation

View source version on businesswire.com: https://www.businesswire.com/news/home/20231207479210/en/

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Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033

Korea Zinc (KRX:010130), the world’s leading non-ferrous smelting company, successfully hosted its first investor relations event, the “2023 Investor Day,” and presented its future vision and growth strategy for the next ten years to stakeholders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231207479210/en/

Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033 (Photo: Korea Zinc)

Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033 (Photo: Korea Zinc)

The event was held at the Conrad Hotel in Yeouido, Seoul from 2 p.m. on the 7th, with presentations devoted to three topics such as smelting business, Troika Drive, and sustainable management. The event was held amidst great interest from investors, as analysts projected that Korea Zinc will benefit most directly from the recent announcement of the US government’s guidance on Foreign Entities of Concern (FEOC) and was followed by a heated Q&A session. Korea Zinc has moved past its perception as a dividend stock with stable performance, to a growth stock with great potential.

Through the Investor Day, Korea Zinc announced its ambition to expand into new businesses, taking a step further from its past growth strategy based on innovation in the smelting business and leveraging its leading smelting technologies and capabilities accumulated over the past half-century in the field of non-ferrous metal smelting. Korea Zinc unveiled a ‘quantum jump’ strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033. To this end, the company will bring sales from the Troika Drive businesses to KRW 12.2 trillion by 2033, contributing almost half of the total revenue of 2033. Korea Zinc expressed the confidence to achieve an average annual growth rate of 10% over the next 10 years.

Founded as a non-ferrous metal smelter in 1974, Korea Zinc posted record-high earnings in 2022 with positive operating results for the 95th consecutive quarter. Looking to the next 10 years, Korea Zinc plans to maximize profitability by expanding the sales of high-purity electrolytic copper and semiconductor sulfuric acid in the smelting business and secure future growth drivers such as renewable energy, secondary batteries, and resource recycling, building on its competitiveness in the smelting business. At the same time, the company intends to fulfill its role as a global leader through ESG management. By doing so, Korea Zinc aims to achieve its revenue target of KRW 25.3 trillion in 2033 and continue its journey to carbon neutrality in 2050.

Smelting Business

For the smelting business, which displayed positive operating results for the 95th consecutive quarter since 2000, Korea Zinc pledged to focus more on profitability and competitiveness and defend its dominant position in the global non-ferrous metal smelting market. Korea Zinc is the world’s largest smelter, singlehandedly commanding 8.4% and 9.3% of the global zinc and lead markets, respectively, in the fourth quarter of 2022, according to Wood Mackenzie, a global research firm. Korea Zinc plans to increase production efficiency by rationalizing its production processes to address variables such as declines in treatment charges (TC) and increases in electricity prices. Korean Zinc will deploy an integrated process designed to maximize the recovery of four major non-ferrous metals, i.e., zinc, lead, copper, and nickel with the scheduled completion of an all-in-one nickel refinery in 2026. Korea Zinc also presented electrolytic copper and semiconductor sulfuric acid as future growth drivers for the smelting business. With these measures in place, Korea Zinc targets to expand smelting revenue to KRW 13 trillion by 2033.

Troika Drive

For the Troika Drive businesses, Korea Zinc will proactively seek new business opportunities, taking advantage of its competitive smelting technology. To drive a paradigm shift to ‘Green Metal’, Korea Zinc is committed to actively promoting three businesses—renewable energy/green hydrogen, secondary battery materials, and resource recycling. In addition, the company will take full advantage of the positive impact of the US government’s recent guidance on Foreign Entities of Concern (FEOC), to expand its business. In doing so, Troika Drive businesses target to achieve a revenue of KRW 12.2 trillion by 2033, with a steady investment of KRW 11.9 trillion over the next 10 years.

Sustainable Management

The 2050 Carbon Neutrality Roadmap was the highlight of Korea Zinc’s ESG management strategy designed to ensure sustainable management and establish a green production system. As part of the roadmap, Korea Zinc plans to reduce carbon emissions by 40% from 2020 to 2040 and an additional 60% by 2050. For safety management, Korean Zinc expanded its safety-related budget by 2.5-fold year-on-year to KRW 100 billion and increased the number of safety-related personnel 5-fold from 26 in 2022 to 131 persons in 2023. Meanwhile, led by the Safety Innovation Committee, Korea Zinc is set to chart out a roadmap in 2024 to enhance workplace safety and health with full implementation scheduled for 2027. Korea Zinc will also align its supply chain with global ESG standards on environment, human rights, and safety and further expand responsible minerals sourcing.

Financing & shareholder Return

Korea Zinc also unveiled its shareholder return policy as well as plans to secure financing for existing and new businesses in the mid- to long-term. For the next 10 years, Korea Zinc will implement various shareholder return policies valued at around KRW 4 trillion, including dividend payout, share buyback, and cancellation.

The two-hour IR event was well-received by attendees. Korea Zinc presented various customized response strategies amidst various external threats such as the global economic downturn, which was enough to gain the market’s trust in the company’s future growth. In particular, Korea Zinc presented growth targets for the next 10 years that exceeded expectations and expanded attention beyond its smelting business, toward its various businesses such as secondary batteries and resource recycling.

In addition, the company broke existing stereotypes that it had a conservative culture regarding disclosures, only providing minimal information, and differentiated from other companies by providing detailed data and figures.

“Looking to the next 10 years, Korea Zinc is committed to concentrating its resources and capabilities on the Troika Drive businesses on top of the existing smelting business. Korea Zinc will maximize shareholders’ value and ensure sustainable management, while continuously engaging shareholders, investors, and other stakeholders,” said Korea Zinc’s spokesperson upon the successful hosting of its first Investor Day.

korea zinc presentation

View source version on businesswire.com: https://www.businesswire.com/news/home/20231207479210/en/

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Korea Zinc signs KRW185 billion (USD140 million) investment agreement with Trafigura to build an all-in-one nickel refinery

Also enters a long-term contract to procure nickel from Trafigura, with the supply volume ranging from 20,000 to 40,000 tonnes per annum

Seoul, 17 November 2023

  • Investment by Trafigura, a market leader in the global commodities industry, provides a reliable source of nickel, a key material for secondary batteries*
  • Yun B. Choi, Chairman of Korea Zinc, stated “Through the new all-in-one nickel refinery, driven by the world’s leading refining technologies, Korea Zinc will further strengthen its position in the global nickel market”

Highlights of the investment/supply agreements 

Trafigura, a market leader in the global commodities industry, has agreed to invest in an all-in-one nickel refinery that Korea Zinc is set to establish through its nickel sulfate subsidiary, Korea Energy Materials (KEMCO). In a ceremony held on 16 November at the head office of Korea Zinc, the two companies signed an agreement to jointly invest KRW 184.9 billion (USD140 m) to establish an all-in-one nickel refinery, capable of processing a range of feedstocks including nickel matte and mixed hydroxide precipitate (MHP) with its integrated pyro-hydro process.

The investment will be used to build the nickel refinery located in Ulsan, South Korea and finance its initial working capital. Alongside the investment agreement, the two parties also entered a long-term agreement to secure a reliable supply of feedstock to the all-in-one nickel refinery. Under the contract, the amount of nickel to be supplied by Trafigura will range from 20,000 to about 40,000 tonnes per annum and Trafigura will also have the off-take right in relation to the feedstock contract.

Significance of Trafigura’s investment 

Trafigura is one of the world’s largest suppliers of commodities, active in metals and minerals, oil and gas and power with revenue of KRW 400 trillion in 2022. Through its subsidiary KEMCO, Korea Zinc, known for its world-class non-ferrous metal refining technology, is teaming up with Trafigura, which is well-positioned to provide a reliable and diversified supply of nickel, a key mineral for secondary batteries. The agreement is designed to build an all-in-one nickel refinery to address global regulations such as the US Inflation Reduction Act (IRA) and fulfill customer needs by producing a wide range of products in one location.

KEMCO overview 

KEMCO produces and sells nickel sulfate, one of the key raw materials used for the production of precursor. Currently, KEMCO produces up to 100,000 tonnes of nickel sulfate annually at its production facility near Korea Zinc's Onsan Smelter. Following the establishment of ‘Korea Precursor Company’, a joint venture with LG Chemical in June 2022, KEMCO plans to complete the construction of a precursor plant with an annual production capacity of 20,000 tonnes within the year and begin a test-run in 2024.

Changes in Korea Zinc’s stakes in KEMCO

Through this agreement, Korea Zinc’s stake in KEMCO increases, consolidating KEMCO’s earnings into Korea Zinc’s financial statements, and Trafigura will secure a 12.9 percent stake in KEMCO. The investment is a follow-up to the business partnership announced in November. Korea Zinc has seen an increasing number of global companies such as Hanwha, LG Chem, Hyundai Motor Group, and Trafigura joining its future growth strategy, Troika Drive.

Strengths as a nickel refiner

Korea Zinc, a global leader in non-ferrous metal production, produces 21 kinds of valuable metals and chemical products by processing various feedstock such as zinc and lead concentrates, low-grade ore and scrap metals. Korea Zinc plans to apply its technologies to the new facility to treat and process an entire range of nickel-containing materials from nickel matte to mixed hydroxide precipitation (MHP) derived from nickel laterite ore, using an integrated pyro-hydro process. Through the all-in-one nickel smelting facility equipped with cutting-edge technologies, Korea Zinc plans to treat EOL nickel-containing batteries and produce a variety of customized products, such as liquid and crystallized nickel sulfate, cobalt sulfate and precursors.

“With the energy transition in progress, Korea Zinc is committed to solidifying its position as the world’s leading non-ferrous metal refiner in the field of nickel, a key battery material,” said Yun B. Choi, Chairman of Korea Zinc. “Through the new all-in-one nickel refinery, driven by the world’s leading refining technologies, Korea Zinc will play a meaningful role in the global nickel market.”

“We’re delighted to be working with Korea Zinc on this strategically important project, which underscores the importance of metals in the energy transition,” said Gonzalo De Olazaval, Trafigura’s Global Head of Metals and Minerals. “Through our global reach and scale, Trafigura’s metals business is well placed to support the development of new refining capacity.”

korea zinc presentation

Signing ceremony attended by Ki Deok Park, President of Korea Zinc, and Choi James Soung, President/CEO of KEMCO, and Gonzalo De Olazaval, Global Head of Metals and Minerals for Trafigura, and Daniel Von Arx, Global Head of Battery Metals for Trafigura.

*Second battery: A rechargeable battery, storage battery, or secondary cell (formally a type of energy accumulator), is a type of electrical battery which can be charged, discharged into a load, and recharged many times, as opposed to a disposable or primary battery, which is supplied fully charged and discarded after use. It is composed of one or more electrochemical cells.

For further information please contact:

Korea Zinc’s Press Office: Lee Minwoo, Communications, Tel: +82-2-519-3989 – koreazinc.co.kr

Trafigura’s Press Office: +41 (0) 22 592 4528 or [email protected]

About Trafigura

Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world – responsibly and efficiently. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through joint ventures H2Energy Europe and Nala Renewables.

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries .

Visit:  www.trafigura.com

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Korea zinc says it will prioritise domestic sales if production at rival drops.

By Joyce Lee

SEOUL, April 3 (Reuters) - Korea Zinc, the world's biggest producer of zinc, will prioritise domestic sales over exports in the event of any steep drop in South Korean smelting production, a senior executive told Reuters.

The question of just how much zinc South Korea will be able to export has become a focal interest for zinc traders after the country's No. 2 producer Young Poong said last month it had cut production at its 400,000 metric ton-per-year Seokpo zinc smelter by a fifth.

Sources at zinc raw material suppliers have since said they expect further production cuts from Young Poong, which has long been loss-making and is grappling with low prices and increases in electricity costs.

Young Poong said on Wednesday that it has no such plans. It has not said how long it expects production to remain at current levels.

South Korean demand for zinc - mostly used to treat steel - is around 470,000 tons per year - of which Korea Zinc and Young Poong supply around 400,000 tons.

Korea Zinc can easily satisfy South Korean demand, D.W. Kang, executive vice president at the firm's raw materials division told Reuters.

"The priority for us is to sell in South Korea. The rest, we export. Among exports, we prioritise higher premiums and we also sell some zinc in the spot market," he said.

Korea Zinc plans to produce 650,000 tons in 2024, similar to last year.

Last year, South Korea exported 609,145 tons of zinc ingots according to trade data, accounting for about 4.4% of the global zinc market. Of that, Korea Zinc exported 454,388 tons, the company said.

Amid weak demand due to a slowdown in global construction activity, zinc prices have lost about 20% from a year ago to trade around $2,479 a ton, resulting in the suspension of multiple zinc mines and smelters over the past year.

"If there's a problem with production at one place, the market will be short. That might drive up the LME price and premiums, but won't pose difficulties for our sales," Kang said.

Underscoring the weakness in zinc prices, sources said Canadian miner Teck Resources agreed to pay Korea Zinc $165 per metric ton, a three-year low, to turn its zinc concentrate into refined metal.

The thinning of margins is not helping with the perception that "when it comes to zinc, growth has almost reached its limit," Kang said.

But he said Korea Zinc was better equipped to weather a downturn in the market than rivals as it handles a wide variety of metals.

"What Korea Zinc has are polymetallic smelters that produce various metals like zinc, nickel and copper at the same site; we also have the flexibility to handle a wide variety of raw material qualities and mixes," he added.

Korea Zinc is also building up its metal recycling business and said on Monday it has acquired U.S.-based scrap metal trader Kataman Metals.

Korea Zinc and Young Poong, once sister companies founded by business partners, have been at loggerheads over legal and shareholder issues.

Korea Zinc currently bulk buys zinc concentrate for both its own smelters and Young Poong's Seokpo facility, and a company called Sorin Corp exports both companies' products. But the two companies are likely to separate their sales and raw material procurement in the future, Kang said.

Young Poong said nothing has been decided.

(Reporting by Joyce Lee; Additional reporting by Julian Luk in London; Editing by Edwina Gibbs)

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-Sets out detailed strategies for its smelting business, Troika Drive businesses, and sustainable management -Leveraging its technologies and capabilities accumulated over the past 50 years, targeting to achieve a 2.5-fold increase in revenue by 2033 -The Troika Drive businesses are expected to take hold beginning in 2025, becoming as big a revenue contributor as the smelting business in 2033

Korea Zinc (KRX:010130), the world's leading non-ferrous smelting company, successfully hosted its first investor relations event, the "2023 Investor Day," and presented its future vision and growth strategy for the next ten years to stakeholders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231207479210/en/

Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033 (Photo: Korea Zinc)

The event was held at the Conrad Hotel in Yeouido, Seoul from 2 p.m. on the 7th, with presentations devoted to three topics such as smelting business, Troika Drive, and sustainable management. The event was held amidst great interest from investors, as analysts projected that Korea Zinc will benefit most directly from the recent announcement of the US government's guidance on Foreign Entities of Concern (FEOC) and was followed by a heated Q&A session. Korea Zinc has moved past its perception as a dividend stock with stable performance, to a growth stock with great potential.

Through the Investor Day, Korea Zinc announced its ambition to expand into new businesses, taking a step further from its past growth strategy based on innovation in the smelting business and leveraging its leading smelting technologies and capabilities accumulated over the past half-century in the field of non-ferrous metal smelting. Korea Zinc unveiled a ‘quantum jump’ strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033. To this end, the company will bring sales from the Troika Drive businesses to KRW 12.2 trillion by 2033, contributing almost half of the total revenue of 2033. Korea Zinc expressed the confidence to achieve an average annual growth rate of 10% over the next 10 years.

Founded as a non-ferrous metal smelter in 1974, Korea Zinc posted record-high earnings in 2022 with positive operating results for the 95th consecutive quarter. Looking to the next 10 years, Korea Zinc plans to maximize profitability by expanding the sales of high-purity electrolytic copper and semiconductor sulfuric acid in the smelting business and secure future growth drivers such as renewable energy, secondary batteries, and resource recycling, building on its competitiveness in the smelting business. At the same time, the company intends to fulfill its role as a global leader through ESG management. By doing so, Korea Zinc aims to achieve its revenue target of KRW 25.3 trillion in 2033 and continue its journey to carbon neutrality in 2050.

Smelting Business

For the smelting business, which displayed positive operating results for the 95th consecutive quarter since 2000, Korea Zinc pledged to focus more on profitability and competitiveness and defend its dominant position in the global non-ferrous metal smelting market. Korea Zinc is the world’s largest smelter, singlehandedly commanding 8.4% and 9.3% of the global zinc and lead markets, respectively, in the fourth quarter of 2022, according to Wood Mackenzie, a global research firm. Korea Zinc plans to increase production efficiency by rationalizing its production processes to address variables such as declines in treatment charges (TC) and increases in electricity prices. Korean Zinc will deploy an integrated process designed to maximize the recovery of four major non-ferrous metals, i.e., zinc, lead, copper, and nickel with the scheduled completion of an all-in-one nickel refinery in 2026. Korea Zinc also presented electrolytic copper and semiconductor sulfuric acid as future growth drivers for the smelting business. With these measures in place, Korea Zinc targets to expand smelting revenue to KRW 13 trillion by 2033.

Troika Drive

For the Troika Drive businesses, Korea Zinc will proactively seek new business opportunities, taking advantage of its competitive smelting technology. To drive a paradigm shift to ‘Green Metal’, Korea Zinc is committed to actively promoting three businesses—renewable energy/green hydrogen, secondary battery materials, and resource recycling. In addition, the company will take full advantage of the positive impact of the US government’s recent guidance on Foreign Entities of Concern (FEOC), to expand its business. In doing so, Troika Drive businesses target to achieve a revenue of KRW 12.2 trillion by 2033, with a steady investment of KRW 11.9 trillion over the next 10 years.

Sustainable Management

The 2050 Carbon Neutrality Roadmap was the highlight of Korea Zinc’s ESG management strategy designed to ensure sustainable management and establish a green production system. As part of the roadmap, Korea Zinc plans to reduce carbon emissions by 40% from 2020 to 2040 and an additional 60% by 2050. For safety management, Korean Zinc expanded its safety-related budget by 2.5-fold year-on-year to KRW 100 billion and increased the number of safety-related personnel 5-fold from 26 in 2022 to 131 persons in 2023. Meanwhile, led by the Safety Innovation Committee, Korea Zinc is set to chart out a roadmap in 2024 to enhance workplace safety and health with full implementation scheduled for 2027. Korea Zinc will also align its supply chain with global ESG standards on environment, human rights, and safety and further expand responsible minerals sourcing.

Financing & shareholder Return

Korea Zinc also unveiled its shareholder return policy as well as plans to secure financing for existing and new businesses in the mid- to long-term. For the next 10 years, Korea Zinc will implement various shareholder return policies valued at around KRW 4 trillion, including dividend payout, share buyback, and cancellation.

The two-hour IR event was well-received by attendees. Korea Zinc presented various customized response strategies amidst various external threats such as the global economic downturn, which was enough to gain the market’s trust in the company’s future growth. In particular, Korea Zinc presented growth targets for the next 10 years that exceeded expectations and expanded attention beyond its smelting business, toward its various businesses such as secondary batteries and resource recycling.

In addition, the company broke existing stereotypes that it had a conservative culture regarding disclosures, only providing minimal information, and differentiated from other companies by providing detailed data and figures.

“Looking to the next 10 years, Korea Zinc is committed to concentrating its resources and capabilities on the Troika Drive businesses on top of the existing smelting business. Korea Zinc will maximize shareholders’ value and ensure sustainable management, while continuously engaging shareholders, investors, and other stakeholders,” said Korea Zinc’s spokesperson upon the successful hosting of its first Investor Day.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231207479210/en/

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Company information.

Korea Zinc Inc is a Korea-based company principally engaged in the manufacture and distribution of non-ferrous metal products. The Company’s non-ferrous metal products consist of precious metal products, including gold and silver products, and zinc products, including zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots and zinc die-casting ingots. Through its subsidiaries the Company also engages in the distribution of non-ferrous metals, supply of electricity, gas and steam, provision of storage and transportation services, collection and transport of waste, and operation of other businesses. The Company distributes its products in domestic and overseas markets.

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https://www.koreazinc.co.kr/

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Trucks ferry excavated gold, copper and zinc ore from the main mining pit at the Bisha Mining Share Company northwest of Eritrea's capital Asmara

Three major South Korean groups said on Wednesday they hope to build a green energy export hub in Australia's Queensland state, aiming to produce a million tonnes of green ammonia annually for export by 2032.

A member of the Cargo Truckers Solidarity union stands next to a truck during a strike in Yeosu

Korea Zinc has agreed to invest $50 million in energy storage developer Energy Vault and use its technology to help decarbonise operations at its zinc refinery in Australia, the two companies said.

An arm of Korea Zinc said on Thursday it will buy out an Australian wind and solar energy developer with a big pipeline of projects to help decarbonise its zinc metal processes and to power green hydrogen production.

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Essential IR Insights Newsletter Fall - 2023

  • 4 Jul, 2022
  • Author Karl Decena
  • Theme Metals

A South Korean zinc deal emerged as the highest-valued transaction in the metals and mining space during the week ended July 1, according to a screener on S&P Capital IQ Pro.

Zinc Oxide Corp. agreed to acquire GSDK Co. Ltd., a producer of high-quality zinc concentrates, in a deal valued at $87.8 million. Zinc Oxide is a subsidiary of ZincOx Resources PLC.

Meanwhile, ArcelorMittal SA closed its acquisition of an 80% interest in Voestalpine AG's hot briquetted iron plant in Texas. The transaction valued the operation at $1 billion. The deal allows ArcelorMittal to produce high-quality input materials needed for low-carbon steelmaking.

BlueScope Steel Ltd. also recently completed a deal, acquiring Cornerstone Building Brands Inc.'s coil coatings business for $500 million.

Sibanye Stillwater Ltd. agreed to acquire a 20% stake in Keliber Oy for $49.1 million from Nordic Mining ASA. Keliber's namesake project in Finland is being developed to produce battery-grade lithium hydroxide using its own ore.

Sibanye will hold a majority interest in Keliber with the completion of the Nordic Mining deal, after acquiring a 30.3% interest earlier in the year. The company said it also plans to make a voluntary cash offer to minority shareholders of Keliber to increase its stake to 80%, targeting a deal completion in February 2023.

Investment banking firm Cormark Securities Inc. reached an agreement to acquire a 7.81% stake in Toronto-based explorer Victoria Gold Corp. from Coeur Mining Inc. for $42.3 million. Victoria Gold's main assets include the Eagle mine in northern Canada's Yukon Territory.

Great Panther Mining Ltd. agreed to sell its Mexico-based Minera Mexicana El Rosario SA de CV subsidiary to Guanajuato Silver Co. Ltd. for up to $16.7 million. Great Panther said the sale of its silver operations in Mexico would allow it to focus on its Tucano gold mine in Brazil.

Rounding out the top five transactions of the week, Godawari Power & Ispat Ltd. completed its purchase of a 78.96% interest in India-based Alok Ferro Alloys Ltd. for $16.2 million. Alok Ferro Alloys' operations are based in Raipur, Chhattisgarh.

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Industry-specific and extensively researched technical data (partially from exclusive partnerships). A paid subscription is required for full access.

Korea Zinc operating profit 2019-2022

Korea zinc company, ltd.'s operating profit from 2019 to 2022 (in billion south korean won).

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South Korea

2019 to 2022

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1,000 South Korean won equals 0.74 U.S. dollars or 0.70 euro as of November 2023. Figures have been rounded.

Other statistics on the topic Mining industry in South Korea

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Statistics on " Mining industry in South Korea "

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  • Import volume of nickel metal South Korea 2011-2021
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Other statistics that may interest you Mining industry in South Korea

  • Premium Statistic Leading mining countries worldwide 2023, based on brand value
  • Premium Statistic GDP from the mining and quarrying sector South Korea 2011-2023
  • Premium Statistic PPI of mining products in South Korea 2011-2022
  • Premium Statistic Proportion of global mining production South Korea 2022, by mineral type
  • Premium Statistic Number of operating mines South Korea 2021, by region
  • Premium Statistic Metal mining production South Korea 2022, by mine type
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Non-metallic minerals

  • Premium Statistic Non-metallic mineral production volume in South Korea 2022, by type
  • Premium Statistic Operational man-hours in non-metallic mineral mining South Korea 2022, by type
  • Premium Statistic Employee numbers in non-metallic mineral mining South Korea 2011-2021
  • Premium Statistic Average monthly wage in non-metallic mineral mining South Korea 2012-2021
  • Premium Statistic Anthracite production volume in South Korea 2014-2022
  • Premium Statistic Operational man-hours in coal mining South Korea 2014-2022
  • Premium Statistic Employees in coal mining South Korea 2014-2021
  • Premium Statistic Average monthly wage in coal mining South Korea 2014-2021

Critical minerals

  • Premium Statistic Production volume of refined copper South Korea 2011-2021
  • Premium Statistic Import volume of nickel metal South Korea 2011-2021
  • Premium Statistic Cobalt metal import volume South Korea 2019-2022
  • Premium Statistic Rare earth metal import volume South Korea 2019-2022
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Korea Zinc Company, Ltd. history, profile and corporate video

 Korea Zinc Company, Ltd. is a Korea-based company engaged in the provision of non-ferrous metals. The Company produces zinc product, including special high grade (SHG) zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots, zinc die casting ingots; lead products, including lead ingots and lead alloy ingots, and copper products. It also provides precious metal products, including gold ingots and silver ingots, and rare materials, including indiums, bismuths and others, as well as sulfuric acids, electronic grade sulfuric acids and fuming sulfuric acids.”

“About Korea Zinc

Korea Zinc Co., Ltd. Established in August 1974 has grown to a world class general non-ferrous metal smelting company that produces about 1 million tons of total 18 types of non-ferrous metals from zinc to lead, gold, silver, and copper as well as rare metals such as indium and gallium within 30 years after establishment through ceaseless technology development and facility investment since it completed construction of a zinc smelting plant of 50,000 ton annual capacity in 1978.

Korea Zinc is fully playing its role as an industrial foundation of Korea for basic materials including zinc used to prevent corrosion of steel products such as various steel plates or steel pipes of which the world market share of Korea Zinc is 8% when those of the sister company Young Poong and a subsidary company like SMC in Australia are included, lead which is used as a raw material for industrial and vehicular batteries and electric wire coating material, copper which, after being processed into diverse forms such as bronze or copper pipe, is essential for the national key industries, gold and silver of which the utilization value for the industries like semiconductor and photovoltaic power generation is increasing, and indium and gallium which are used as key materials for high technology devices such as solar cells and LED.”

*Information from Forbes.com and Koreazinc.co.kr

**Video published on YouTube by “ Bongkyun Seo “

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North Korea + WMDs: SP24 Practicum Presentations Series

April 25, 2024 · 1:00 – 1:30 PM

Open to the Public

april 25 flyer

Join us as we hear from Leo Eckel, working with the Istituto Affari Internazionali (IAI) and the European Union Nonproliferation and Disarmament Consortium (EUNDPC), as he shares his practicum project. 

Link: go.miis.edu/pss24

Passcode: 2024

Contact Organizer

MIIS - Experiential Learning Office [email protected]

IMAGES

  1. Korea Zinc expands from smelter to hydrogen, battery materials maker

    korea zinc presentation

  2. Korea Zinc

    korea zinc presentation

  3. Koreazinc

    korea zinc presentation

  4. Koreazinc

    korea zinc presentation

  5. Korea Zinc emerges winner despite sharp decline in treatment fees

    korea zinc presentation

  6. Koreazinc

    korea zinc presentation

VIDEO

  1. 2023 고려아연 Investor Day

  2. VMZINC short corporate video

  3. (Image) Korea zinc PR video

  4. 고려아연의 그린수소 Supply Chain 3D 그래픽 영상

  5. Zinc Presentation

  6. [KZ Clover] Korea Zinc's Carbon-Neutral Forest, "Eumui" in Uljin-gun

COMMENTS

  1. PDF Korea Zinc IR Presentation

    Korea Zinc IR Presentation February 2022. 1 Disclaimer This presentation contains forward looking information and statements with respect to market conditions, financial conditions, results of operations and business, and plans of the management. Please note they may

  2. Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of

    Korea Zinc is the world's largest smelter, singlehandedly commanding 8.4% and 9.3% of the global zinc and lead markets, respectively, in the fourth quarter of 2022, according to Wood Mackenzie ...

  3. Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of

    SEOUL, South Korea, December 07, 2023--Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033 ... Seoul from 2 p.m. on the 7th, with presentations ...

  4. Korea Zinc expands nickel production to meet US battery demand

    Korea Zinc is building an advanced nickel refining plant for Won500bn ($370mn) in Ulsan, on the country's east coast, with production due to start in 2026. The plant will increase the company ...

  5. Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of

    The event was held at the Conrad Hotel in Yeouido, Seoul from 2 p.m. on the 7th, with presentations devoted to three topics such as smelting business, Troika Drive, and sustainable management. The event was held amidst great interest from investors, as analysts projected that Korea Zinc will benefit most directly from the recent announcement of ...

  6. Korea Zinc eyes green zinc by 2025 amid longer-term hydrogen export

    Sun Metals produced 228,000 tonnes of zinc in 2020, and the refinery is undergoing a A$455 million expansion to lift production to 300,000 t/y, according to an Oct. 5 presentation by Ark Energy CEO Daniel Kim on the online Australia-Korea New Energy Forum. This will place it in the top 10 of global zinc producers, from 17th currently.

  7. Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of

    Korea Zinc (KRX:010130), the world's leading non-ferrous smelting company, successfully hosted its first investor relations event, the "2023 Investor Day," and presented its future vision ...

  8. Korea Zinc Inc (010130) Stock Price & News

    Get the latest Korea Zinc Inc (010130) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

  9. Korea Zinc Inc. (010130.KS)

    Find the latest Korea Zinc Inc. (010130.KS) stock quote, history, news and other vital information to help you with your stock trading and investing.

  10. Korea Zinc and Trafigura sign USD140 million investment agreement to

    Korea Zinc signs KRW185 billion (USD140 million) investment agreement with Trafigura to build an all-in-one nickel refinery. Also enters a long-term contract to procure nickel from Trafigura, with the supply volume ranging from 20,000 to 40,000 tonnes per annum. Published on 17 Nov 2023.

  11. Korea Zinc plans to invest $6.6B in renewable energy

    Korea Zinc Co. Ltd. plans to invest $6.6 billion over the next eight years for the development of solar and wind power generation and green hydrogen production, Bloomberg News reported May 12, quoting the company's vice chairman, Yun Choi.. The investment will form part of Korea Zinc's efforts to cut reliance on traditional energy sources and meet the RE100 goal to only use electricity from ...

  12. Smelting Giant Korea Zinc to Invest $6.6 Billion in Green Power

    Choi's ambitious plans are backed by a profitable, cash-rich business. Korea Zinc posted a record 1.1 trillion won ($855 million) operating profit in 2021 on revenue of 9.9 trillion won. The ...

  13. Korea Zinc says it will prioritise domestic sales if production at

    Korea Zinc, the world's biggest producer of zinc, will prioritise domestic sales over exports in the event of any steep drop in South Korean smelting production, a senior executive told Reuters.

  14. World's largest zinc smelter sees opportunity in US energy bill

    Korea Zinc Co., a Seoul-based company that processes many of the Earth's major metals, is seeking to diversify into electric vehicle batteries and renewable energy sources, in addition to ...

  15. Korea Zinc

    Korea Zinc Company, Ltd. (Korean: 고려아연 주식회사; Hanja: 高麗亞鉛 株式會社; RR: Goryeo Ayeon Jusik Hoesa) is a non-ferrous metal smelter headquartered in Seoul, South Korea.It is one of the leading refined zinc-producing companies alongside Nyrstar, Hindustan Zinc, and Boliden. Korea Zinc produces 18 types of valuable metals and chemical products by processing various raw ...

  16. 010130.KR

    Korea Zinc Co. Ltd. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. View 010130.KR financial statements in full.

  17. Korea Zinc Holds its First Investor Day, Announcing a Revenue ...

    Korea Zinc unveiled a 'quantum jump' strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033. To this end, the company will bring sales from the Troika Drive businesses to KRW ...

  18. 010130.KS

    Markets category Korea Zinc agrees 40% fee cut to turn Teck's mined zinc into metal, sources say April 2, 2024 Markets category Indonesia's American EV dreams shunted into the slow lane November ...

  19. Korea Zinc Co. Ltd. Annual Income Statement

    Created with Highstock 2.1.8. Korea Zinc Co. Ltd. Annual stock financials by MarketWatch. View the latest 010130 financial statements, income statements and financial ratios.

  20. South Korean zinc deal leads metals, mining M&A for week ended July 1

    A South Korean zinc deal emerged as the highest-valued transaction in the metals and mining space during the week ended July 1, according to a screener on S&P Capital IQ Pro. Zinc Oxide Corp. agreed to acquire GSDK Co. Ltd., a producer of high-quality zinc concentrates, in a deal valued at $87.8 million.

  21. Korea Zinc: operating profit 2022

    The operating profit of Korea Zinc in 2022 stood at approximately 919 billion South Korean won. Korea Zinc is a metal smelting company that manufactures and sells zinc, lead, gold, silver, copper ...

  22. Korea Zinc

    Korea Zinc Co., Ltd. Established in August 1974 has grown to a world class general non-ferrous metal smelting company that produces about 1 million tons of total 18 types of non-ferrous metals from zinc to lead, gold, silver, and copper as well as rare metals such as indium and gallium within 30 years after establishment through ceaseless ...

  23. PDF Independent Reasonable Assurance Report to Korea Zinc Company, Ltd

    Review of the presentation of the Report to ensure consistency with our findings Review of internal control of purchasing process ... on Korea Zinc Company, Ltd. website, www.koreazinc.co.kr. Independence and competency statement ; In conducting our engagement, we have complied with the applicable requirements of the Code of Ethics for ...

  24. Korea Zinc announces non-renewal of sulfuric acid consignment contract

    On April 9, Korea Zinc announced that it has decided to terminate joint sourcing and marketing with Young Poong to improve its earnings performance and reduce costs. SEOUL, South Korea, April 16 ...

  25. North Korea + WMDs: SP24 Practicum Presentations Series

    North Korea + WMDs: SP24 Practicum Presentations Series. April 25, 2024 · 1:00 ...