KT Labor Union "Support for CEO Koo Hyun-mo's Reappointment"

KT CEO Koo Hyun-mo is attending and presenting at the 'KT AI Strategy Press Conference' held on the 16th at the Sofitel Ambassador Seoul Grand Ballroom in Songpa-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Oh Soo-yeon] The KT Labor Union has expressed its support for CEO Koo Hyun-mo's reappointment.

Choi Jang-bok, chairman of the KT Labor Union, posted a message titled "A Letter to Union Members Regarding the CEO's Reappointment" on the union bulletin board on the 6th, stating, "The KT Labor Union supports CEO Koo Hyun-mo's reappointment, reflecting on the achievements of the past three years and aiming for even greater leaps forward."

Chairman Choi said, "CEO Koo, as the first internal CEO in over a decade, has delivered remarkable management performance during his three-year tenure despite various internal and external challenges. Sales and operating profits have shown meaningful growth, and the stock price, which had been declining, has significantly risen for the first time in a long while, increasing the company's market value. Thanks to the company's growth, the working conditions of union members have also improved."

He added, "What is most noteworthy is that these achievements were not attained by threatening employment stability through workforce restructuring or asset sales, as past parachute CEOs pursued for short-term results, but through fundamental improvements in the business structure. Since CEO Koo's declaration of KT's transformation into a Digico (digital platform company), KT has been moving away from its stagnant wired and wireless telecommunications business structure and continuing new innovations through its transition into a digital platform company," he emphasized.

Chairman Choi stated, "I am confident that CEO Koo's stable leadership will allow KT's future vision, which is now getting on track, to bear successful fruit, and I welcome his reappointment."

According to the telecommunications industry, KT is currently conducting a priority review of CEO Koo's reappointment through the CEO candidate screening committee. If the committee evaluates him as suitable for reappointment, the board of directors will recommend CEO Koo as the sole candidate for the next CEO, and his reappointment will be finalized at the regular shareholders' meeting in March next year. This process is expected to be completed by next week.