China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
U.S. Stocks Slip as Gold Rebounds Ahead of Year-End, Markets Eye 2026 Outlook 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers 
U.S. Dollar Starts 2026 Weak as Yen, Euro and Sterling Hold Firm Amid Rate Cut Expectations 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine 
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
Korea Zinc Faces Dramatic Stock Drop
Shares in Korea Zinc plunged by 29.9% on Wednesday, hitting the daily lower limit, following the announcement of a new stock issuance worth 2.5 trillion won ($1.81 billion). This development comes as the world’s largest zinc refiner grapples with an internal struggle for control of its $18 billion zinc empire against the Chang family of Young Poong.
New Stock Issuance Details
In a regulatory filing, Korea Zinc disclosed that its board approved the issuance of approximately 3.73 million shares priced at 670,000 won each—57% lower than the previous day's closing price of 1,543,000 won. Notably, 20% of these shares will be allocated to an employee ownership association, potentially strengthening the management's influence over the company.
Strategic Moves to Stabilize the Company
This announcement follows a $1.5 billion share buyback where Korea Zinc repurchased 9.85% of its shares at 890,000 won each, aiming to prevent significant stakeholders from selling their stakes to Young Poong and private equity firm MBK. The new share issuance aims to diversify the company's shareholder base and mitigate the risks associated with potential delisting from the stock market.
Out of the anticipated 2.5 trillion won raised, 2.3 trillion won will be allocated towards debt repayment. The new shares are expected to be listed on December 18.
