[Asia Economy Reporter Kang Nahum] Amid strong political pressure over the reappointment of KT CEO Koo Hyun-mo, it has been confirmed that the KT board of directors has begun discussing a plan to completely halt the CEO appointment process.
On the 9th, a KT official stated, "The board meeting started at 11 a.m. today, and the agenda was related to the suspension of the CEO appointment process."
Recently, the largest shareholder, the National Pension Service, along with political circles, has continuously raised issues regarding the CEO appointment procedure. The opaque process concerning which candidates and how many applied during the competitive evaluation for CEO Koo's reappointment became controversial. After much deliberation, the board reportedly decided on this agenda.
The key issue is CEO Koo's response if the board decides to suspend the CEO appointment. With the 'Cop Day' scheduled at 3 p.m. today to disclose the company's performance and future vision, the industry believes that if CEO Koo does not attend this event, it would be tantamount to expressing his intention to 'rechallenge.'
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