Seoul, South Korea - KT (NYSE: KT) announced the inauguration of its new CEO, Kim Young-Shub, at a town hall meeting attended by key employees, including Choi Jang-bok, Labor Union Chairman, and Seo Chang-Seok, Senior Executive Vice President and Head of Network Division.
The meeting follows Kim's formal appointment at an Extraordinary General Meeting and serves as a platform for the company's future course.
Why it matters
Since KT was privatized from government ownership in 2001, news of prosecutorial investigations and other issues have appeared more frequently in the social sessions than in the technical and business sessions as South Korea's presidency or regime has changed hands.
With the arrival of a new CEO after the previous one declined to run for re-election, the world is watching closely to see where the company is headed.
KT is the largest telecommunications provider in South Korea when wireline and wireless are combined.
The Key Points
Kim highlighted four key areas that will require a higher level of focus for KT's development:
- Customers: Kim advised focusing on differentiated customer value. The mandate addresses customer needs and pain points and strengthens the core telecom business while improving ICT competitiveness.
- Competence: He emphasized the need for expertise, especially in stable network operations. Special attention will be given to key personnel with outstanding skills, regardless of age or position.
- Substance: Sustainable growth, Kim said, will be achieved by strengthening the fundamentals of the telecom and ICT businesses and striving for tangible results rather than "making moderate compromises to make numbers.
- Unity: Kim called for a culture of mutual respect and unified thinking. He urged leaders not to be swayed by short-term metrics and emphasized the role of management in fostering this culture.
The Big Picture
The town hall was broadcast live to all KT Group companies and included a question-and-answer session.
Employees asked questions on various topics, including the company's vision and future business direction, which Kim addressed.
In his closing remarks, Mr. Kim said, "Growth will be achieved by leveraging our ICT expertise and realizing the potential of the KT Group.
This strategic framework marks an attempt by KT to move beyond its previous management challenges and solidify its position in the ICT sector.
Observers will watch closely to see how these principles translate into measurable success.
On the other hand, it's worth noting that Kim is a financial expert who has restructured companies several times in his previous career and experience at LG Group.
As a point of reference, KT laid off thousands of employees after someone with an external KT background was appointed CEO.