Hyundai Motor Group Becomes Largest Shareholder of KT

The National Pension Service sold part of its shares in KT, making Hyundai Motor Group the largest shareholder of KT.

Office sketch related to KT's super-large AI 'Mideum' launch plan. Photo by Yongjun Cho jun21@

According to KT's disclosure on the 2nd, the National Pension Service's stake changed from 8.08% to 7.51%. As the National Pension Service reduced its shares, Hyundai Motor Group, previously the second-largest shareholder, became the largest shareholder. Hyundai Motor Group holds 7.89% of KT shares, with Hyundai Motor owning 4.75% and Hyundai Mobis holding 3.14%.

Since KT is a fixed-line telecommunications operator regulated under the Telecommunications Business Act, Hyundai Motor Group must undergo a public interest review by the Ministry of Science and ICT and obtain approval from the Minister of Science and ICT to become the largest shareholder. However, the industry views this case as a change in position due to the National Pension Service's share disposal, and it is likely that Hyundai Motor Group will adjust its shareholding ratio.

KT closed at 42,200 KRW on the 19th of last month, marking the highest closing price in 13 years since January 2011.