KT Takes Measures Against the Telecommunications Business Act, Transitions to Co-CEO System

Appointment of Park Jong-wook as Chief Safety Officer
Strengthening Preparedness for Occupational Accidents and Responsible Management

From the left, CEO Koo Hyun-mo, CEO Park Jong-wook

[Asia Economy Reporter Cha Min-young] KT, which has been exposed to the most industrial accidents in the telecommunications industry over the past five years, has appointed a Chief Safety Officer (CSO) to respond to the Serious Accidents Punishment Act.

On the 28th, KT appointed Park Jong-wook, President of the Management Planning Division, as the Chief Safety Officer (CSO) overseeing safety and health operations. KT will shift from a sole CEO system under Koo Hyun-mo to a dual CEO system with Koo Hyun-mo and Park Jong-wook as co-CEOs.

President Park, born in 1962, graduated from Chonnam National University and has served as Head of IT Strategy at KT’s IT Division, Director of Strategic Planning in the Management Planning Division, and Head of the Management Planning Division. His term as CEO begins immediately and lasts until this year’s regular shareholders’ meeting. The transition to a dual CEO system is interpreted as a measure to prepare for potential workplace accidents following the enforcement of the Serious Accidents Punishment Act on the 27th and to strengthen responsible management. The Act stipulates that management officials can face imprisonment of one year or more if a serious accident such as a fatality occurs. According to the Ministry of Employment and Labor’s investigation, among the three major telecommunications companies from 2016 to 2020, KT had the highest number of deaths due to industrial accidents. Of the 26 total fatalities, 20 (76.9%) occurred during work commissioned or performed by KT.

A KT official explained, "We appointed the new CEO Park to establish an independent and specialized management system in the field of safety and health."

Earlier this year, KT established a Safety Enhancement Council and strengthened its safety management system based on 32 priority safety tasks. Lim Joo-hwan, Honorary President of the Korea Communications Society, said, "With the enforcement of the Serious Accidents Punishment Act, the responsibility of the primary contractor increases when accidents occur, and this seems to be an effort to show that the company is fulfilling its responsibilities."