Korea Zinc has brought IT solutions provider MDSi into its U.S. operations through subsidiary PedalPoint Holdings, marking the company’s third American acquisition in three years as it builds out capabilities beyond traditional metals smelting.
The Alpharetta, Georgia-based company joins Korea Zinc’s portfolio through PedalPoint, the smelter’s circular economy platform that has been acquiring businesses across the resource recovery value chain. MDSi, founded in 1990, provides IT asset management, network design and equipment resale services primarily to telecommunications and enterprise clients.
The acquisition represents Korea Zinc’s continued push into the U.S. market following controversial purchases of electronic waste processor Igneo Holdings for $332 million in 2022 and scrap metal trader Kataman Metals for $55 million in 2024. The Igneo deal faced scrutiny after sellers reportedly earned profits exceeding 100 times their initial investment.
The diversification reflects Korea Zinc’s “Troika Drive” strategy, which targets revenue from three new business areas: renewable energy and green hydrogen, secondary battery materials, and resource recycling. The company aims to generate 12.2 trillion won ($9.1 billion) from these businesses by 2033, contributing nearly half of projected total revenue of 25.3 trillion won.
For Korea Zinc, which produces over 1.2 million tons of 18 different metals annually, the IT services addition appears tangential to core recycling operations. The company said the partnership would provide MDSi with expanded warehouse capacity and integrated resale services, though specific financial terms weren’t disclosed.
MDSi co-founder Lisa McDonald described the move as providing access to “proven force in e-waste processing and circular infrastructure” while bringing telecommunications expertise to Korea Zinc’s portfolio. The 35-year-old company serves major network service providers and enterprises with technology sourcing and supply chain solutions.
Korea Zinc shares have declined 2.6% to 775,000 won as the company faces pressure from private equity firm MBK Partners, which along with Young Poong controls the largest stake and has criticized recent acquisition strategies.
