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KT Corp Announces Workforce Restructuring, Plans Two Network Infrastructure Subsidiaries
Philip Lee, Pickool

KT Corp Announces Workforce Restructuring, Plans Two Network Infrastructure Subsidiaries

Philip Lee profile image
by Philip Lee

Seoul, South Korea—KT Corp (030200. KS) announced on Thursday that it has agreed with labor unions to implement a special voluntary retirement program and establish two network infrastructure subsidiaries, marking its most significant restructuring initiative in recent years.

The telecommunications giant plans to establish two specialized network infrastructure subsidiaries focusing on network infrastructure construction and maintenance. 

The new companies will handle line installation, power systems, and maintenance operations.

The restructuring allows affected employees to transfer to the new subsidiaries or group affiliates, apply for voluntary retirement, or transition to sales roles within KT. 

Employees transferring to new subsidiaries can continue working in their current locations and receive guaranteed contract employment for three years post-retirement age.

The voluntary retirement program is available to employees with over 15 years of service and at least six months before retirement age. 

The company will provide "reasonable compensation," including special retirement benefits.

KT will maintain its current level of network infrastructure investment despite the reorganization. 

The new subsidiaries are expected to begin operations in early 2025.

Employees can apply for transfers to the new subsidiaries from October 21 to 24 and October 25 to 28. 

The voluntary retirement application period runs from October 22 to November 4.

The company stated the restructuring aims to transform KT into an "AICT" (AI and ICT) company by improving operational efficiency through specialized field operations.

Philip Lee profile image
by Philip Lee

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