[Special Stock] KT Synergy with Major Shareholder Hyundai Motor... KTcs and KTis Stock Prices Rise

On the 30th, shares of KT affiliates such as KTcs and KTis surged sharply during the trading session. This was driven by expectations of significant business synergy effects with Hyundai Motor Group, which has become the largest shareholder.

As of 9:59 AM, KTcs shares were trading at 3,445 KRW, up 16.81% from last week's closing price. KTis also rose 7.18% to 2,835 KRW. Both companies' stocks initially surged more than 20% and 15%, respectively, before giving up some of their gains.

The sharp rise in the stock prices of KT-affiliated listed companies is due to expectations that business synergies with Hyundai Motor Group, KT's largest shareholder, will expand. There is anticipation of strong synergy between KT's telecommunications and satellite infrastructure and Hyundai Motor's connected car and Urban Air Mobility (UAM) businesses.

Recently, Hyundai Motor Group switched its telematics (vehicle wireless communication equipment) line supply provider for new cars from LG Uplus to KT. KT will supply lines to Hyundai Motor Group's new cars starting next year. Cooperation between KT and Hyundai Motor Group is also expected to strengthen in new businesses such as UAM.