South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
Asian Stock Markets Start New Year Higher as Tech and AI Shares Drive Gains 
Oil Prices Stabilize at Start of 2026 as OPEC+ Policy and Geopolitical Risks Shape Market Outlook 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
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.
