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Telecommunications & Media

KT union files police complaint against outside director Lee Seung-hoon over misconduct allegations

KT\'s labour union said on March 17 it filed a complaint with investigators against outside director Lee Seung-hoon over alleged misconduct, citing the need to restore board transparency and normalise corporate governance. The union said it submitted the complaint to Seoul Jongno Police Station on March 16 on suspicion of obstruction of business and breach of trust, or attempted breach of trust. It also cited allegations of undue influence over personnel matters and pressure to invest in Germany-based satellite firm Rivada.

Telecommunications & Media

KT begins board overhaul, scale of outside director reshuffle in focus

KT has begun discussions on appointing new outside directors ahead of a regular shareholders meeting by the end of March to approve Park Yun-young (박윤영) as CEO and vote on director appointments. Three outside directors’ terms expire in March, and one seat is vacant, leaving four to fill. Attention is focused on the scale of changes and the stance of the National Pension Service, which recently shifted its investment purpose in KT to general investment.