KT Corp. Reforms Board Structure Amid Shareholder Pressure

Seoul, South Korea - KT Corp. (NYSE: KT) announced boardroom appointments and governance reforms on Monday, following institutional friction with its largest shareholders and internal stakeholders.

The director nomination committee, chaired by Kim Yong-heon, nominated three candidates for independent director positions.

The nominees are Yoon Jong-soo, an environmental advisor at Kim & Chang; Kim Young-han, a professor of electronic engineering at Soongsil University; and Kwon Myung-sook, a former chief executive of Intel Korea.

These appointments address vacancies in ESG, future technology, and management. The accounting-focused seat remains vacant, with selection deferred until 2027.

The nominations coincide with KT’s ongoing overhaul of its internal power structure.

The committee confirmed a transition from the previous concentrated board replacement model, in which four directors were replaced simultaneously, to a staggered or distributed approach.

The shift is intended to ensure institutional continuity and prevent the abrupt loss of organizational memory during transitions.

The board also made concessions to the National Pension Service (NPS), the largest shareholder, as well as to internal labor unions.

The board said it would seek to amend its articles of incorporation and internal regulations to address NPS concerns that its current bylaws may conflict with its charter regarding the appointment of key executives.

The company is also reshaping its oversight mechanisms.

KT plans to implement a formal evaluation system for independent directors, a demand long sought by its labor union to increase transparency.

The announcement also addressed compliance issues.

The board confirmed plans to hire an independent third-party agency to investigate an unspecified independent director, following recommendations from the internal compliance committee.

The proposed changes and nominees require approval at the company’s annual general meeting next month.