Korea Zinc Sets Ambitious Growth Goals for 50th Anniversary, Targets $51 Billion Market Cap by 2033
Korea Zinc, the world’s leading non-ferrous metal smelting company, is celebrating its 50th anniversary with ambitious plans for future growth. The company aims to reach a market capitalization of 70 trillion won ($51 billion) by 2033, supported by a cumulative revenue target of 217 trillion won ($158 billion) from 2023 to 2033. This goal was announced during a celebration attended by over 150 employees, including CEO Choi Yoon-beom.
In 2023, Korea Zinc reported sales revenue of 9.7 trillion won ($7.1 billion), contributing to a cumulative total of 123 trillion won ($89.8 billion) over the past five decades since its founding in 1974. CEO Choi outlined the company’s five core values: honesty, immersion, flexibility, communication, and teamwork. He emphasized the ambition to transform Korea Zinc into a global energy and materials enterprise.
Korea Zinc is advancing new ventures under its “Troika Drive (TD)” strategy, focusing on renewable energy and green hydrogen, resource recycling, and secondary battery materials. The company plans to leverage its expertise in raw material extraction and processing to broaden its business scope. The secondary battery materials initiative will establish a complete value chain from nickel smelting to nickel sulfate and precursors. Korea Zinc has also expanded into the copper foil industry.
By 2026, Korea Zinc expects to begin commercial operations of an “all-in-one” nickel refinery. By 2033, the company anticipates an annual production capacity of 90,000 tons of nickel sulfate, 80,000 tons of precursors, and 60,000 tons of copper foil. The high-purity nickel produced is expected to comply with the U.S. Inflation Reduction Act (IRA) standards, enhancing price competitiveness and economic security.
In the resource recycling sector, Korea Zinc is building a value chain through the acquisition of Igneo Holdings, a specialist in e-scrap recycling with operations in the U.S. and Europe, and Kataman Metals, a global scrap trading firm. In renewable energy and green hydrogen, the company is developing infrastructure for green hydrogen and ammonia production in Australia, along with other eco-friendly energy projects. Strategic partnerships with South Korean conglomerates such as LG Chem Ltd. and Hanwha Group, as well as global commodity trader Trafigura Group Pte, are facilitating these initiatives.
Founded in 1974 by Choi Ki-ho, Korea Zinc has grown to produce over 1.2 million tons of zinc, lead, gold, silver, copper, and more than 10 other non-ferrous metals annually. Leadership has transitioned to Choi Yoon-beom, the third generation of the founding family. Recently, the company moved its headquarters back to Jongno, Seoul, where it was originally established.
