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The grandson of Korea Zinc founder Choi Ki-ho, who was promoted to chairman this week, is expected to accelerate his efforts for the general non-ferrous metal smelter's independence from its largest shareholder, Young Poong, which is under the control of the family members of another of Korea Zinc's founders, Chang Byung-hee, according to industry officials, Wednesday. The smelting company said Tuesday that its board members appointed Choi Yun-beom as the chairman to replace his uncle, Choi Chang-keun, who became the honorary chairman.

Carmakers, shipbuilders and construction firms are feared to face setbacks in securing steel products, as unionized workers at Hyundai Steel are poised to strike in the midst of POSCO's ongoing efforts to restore its Pohang steel mill in North Gyeongsang Province following flood damage, according to industry officials, Wednesday. Earlier this week, Hyundai Steel's four unions, which are all affiliated with the Korean Metal Workers' Union, warned that they would strike unless management agrees to hold wage negotiations on Thursday.