KT's director nomination committee said it reviewed outside director candidates across four areas and on Feb. 9 finalised three outside director candidates to recommend to the annual shareholders' meeting.
The committee decided to recommend Yoon Jong-su (윤종수), chair of KT's ESG committee and an environment adviser at Kim & Chang, for ESG. It recommended Kim Young-han (김영한), a professor in the School of Electronic Engineering at Soongsil University, for future technology, and former Intel Korea chief Kwon Myung-sook (권명숙) for management. It will leave the accounting position vacant and decide it at next year's annual shareholders' meeting.
The committee will revamp how it appoints outside director candidates. It decided to move away from the existing concentrated structure of replacing 4 at a time and shift to a stable, staggered replacement structure.
The board also presented measures to address recent concerns raised by the National Pension Service and the labour union, among others. It will push to revise the board regulations and the articles of incorporation after accepting the National Pension Service's concern that board regulations related to key executive appointments could conflict with the articles of incorporation.
It also plans to introduce an evaluation system for outside directors and establish measures to strengthen board transparency, reflecting the labour union's views. On concerns about a management vacuum during a change of chief executive, it said it hopes for smooth discussions between current management and the next chief executive candidate and expressed its intent to actively cooperate with the outcome of those discussions.
On recommendations by the compliance committee regarding a specific outside director, it plans to commission a third independent body to conduct a fair and objective investigation at the board level.