[Click e-Stock] "KT Faces Increased Short-Term Uncertainty Amid Unauthorized Payment Incident and Hacking Allegations"

On September 10, Samsung Securities analyzed KT, stating, "There is a possibility that short-term uncertainty may increase due to the unauthorized micropayment incident amid hacking allegations." The firm maintained its "Buy" investment rating and a target price of 69,000 won.

On this day, Choi Minha, a researcher at Samsung Securities, said, "The exact route of the damage and the method of the crime have not been identified, and concerns are growing as the affected areas are spreading. It is expected that a short-term decline in investor sentiment will be unavoidable," explaining the outlook.

Since the end of last month, a series of unauthorized micropayment damages have occurred among KT customers, particularly in certain regions. On September 8, KT reported the cyber breach incident to the Korea Internet & Security Agency.

The initial damages were confirmed in several areas, including Gwangmyeong in Gyeonggi Province, Geumcheon in Seoul, and Bucheon in Gyeonggi Province. Since the first case was reported on August 27, a total of 79 reports have been filed to date. The damages are estimated at 38 million won in Gwangmyeong (61 cases), 7.8 million won in Geumcheon (13 cases), and 4.11 million won in Bucheon (5 cases).

The main type of incident was "mobile phone micropayment damage," where mobile gift certificates and similar items were purchased without the users' knowledge, primarily during early morning hours. KT implemented customer protection measures such as reducing micropayment limits and strengthening the detection of abnormal micropayment patterns.

No commonalities have been found regarding device models, store of activation, user age, or usage patterns.

Researcher Choi stated, "Unlike the SK Telecom case, actual financial damages have occurred, so it is necessary to closely monitor the situation going forward. The results of the investigation and any additional responses will be key variables in restoring user trust and managing cost burdens."