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Telecommunications & Media

KT revises board ethics code, introduces semiannual checks for outside directors

KT has revised its board ethics code and updated mandate contracts for outside directors to curb excessive influence. The board added a clause stating outside directors must not exercise influence that undermines fairness or independence in matters such as personnel, business and investment. The revised contract requires compliance with laws and internal rules and allows measures including warnings and recommendations to forgo voting rights or resign. Outside directors will also complete a semiannual self-checklist.

People

Korea Exchange appoints Han Gu as executive director

Korea Exchange held an extraordinary general meeting of shareholders and appointed new executive and outside directors. It appointed former Financial Supervisory Service deputy governor assistant Han Gu as an executive director. Public interest outside directors include Shin Yong-sang of the Korea Institute of Finance and former Smart Media Rep CEO Seok Won-hyeok. Yonsei University professor Shin Hyun-han was named a public interest outside director who will serve on the audit committee.

Telecommunications & Media

KT boosts CEO authority, allows reorganisation without board approval

KT\'s board has revised its rules to increase the chief executive\'s autonomy over personnel and organisational reshuffles. The board removed a provision requiring prior board approval when the CEO appoints or dismisses division head-level executives or pursues reorganisations. It also changed board procedures so matters related to reorganisations shift from prior reporting to reporting. Separately, the board recommended restricting suspected outside directors from attending or participating until judicial outcomes are confirmed.