Seoul: The government has officially designated Korea Zinc Co.'s high-nickel precursor manufacturing technology as a national core technology, intensifying the ongoing struggle for control of the world's largest refined zinc producer. According to Yonhap News Agency, Korea Zinc has been embroiled in a prolonged battle to resist a takeover attempt by its largest shareholder, Young Poong Corp., along with private equity fund MBK Partners Ltd. This conflict began on September 13 when Young Poong initiated a tender offer to acquire a larger stake in Korea Zinc. In response, Korea Zinc urged the government to classify its high-nickel precursor technology as a key national and strategic technology. Such a designation would grant the government the authority to approve any foreign acquisition attempts due to the critical nature of these technologies. The industry ministry's decision to designate the technology as a national core asset came shortly after Korea Zinc abandoned its 2.5 trillion-won (US$1.8 billion) s hare sale plan. This plan had faced objections from the Financial Supervisory Service, which expressed concerns over the lack of transparency in the decision-making process, potentially harming existing shareholders' interests. The proposed rights issue was perceived as Korea Zinc's strategy to acquire more treasury stocks with voting rights to strengthen its position against the takeover bid by the Young Poong faction. Currently, Young Poong and MBK collectively hold a 39.83 percent stake in Korea Zinc, whereas Korea Zinc Chairman Choi Yun-beom and related parties possess a 35.4 percent stake in the company. With the backing of Bain Capital, Korea Zinc intends to convene a shareholders meeting by the year's end to resolve the conflict. The company aims to rally support from key shareholders, including the National Pension Service, Hyundai Motor Group, and Hanwha Group. High-nickel precursors play a vital role in the production of battery cathodes, which are essential components for electric vehicles and e nergy storage systems.