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KT CEO calls for unity of affiliates

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Published : 2014-04-17 21:04
Updated : 2014-04-17 21:31

KT CEO Hwang Chang-gyu held a meeting with the top executives of KT’s affiliates for the first time since taking the helm of Korea’s second-largest mobile carrier last December.

Hwang emphasized the importance of unity and management that puts customers first at the meeting held at the mobile carrier’s office in Bundang, Gyeonggi Province.

“Let us make KT the global top company based on the firm’s information communication and technology,” Hwang said at the meeting of some 30 CEOs and presidents of the KT affiliates.

KT CEO Hwang Chang-gyu speaks during a meeting with CEOs and presidents of the mobile carrier`s affiliates on Thursday. KT
His remarks indicate his willingness to reform and unite the mobile carrier and its affiliates after a series of fraud and information leak cases.

Hwang also put an emphasis on managing firms while abiding by the laws and rules and fulfilling responsibilities and duties as the members of the firms and of society.

An employee of KT ENS, a network integration services provider, was caught in February for allegedly fabricating sales documents and aiding KT ENS’ subcontractors to borrow 1.8 trillion won ($1.7 billion) from Korean banks.

Right after KT was hit by the fraud case, a KT official was booked by the police without detention due to loose management of customers’ private information.

For a year since February 2013, private information of about 1 million KT subscribers was leaked, prompting Hwang to make a public apology.

Hwang recently decided to proceed with a retirement plan for the sake of efficiency.

According to KT, around 23,000 senior employees who have worked for KT over the past 15 years are subject to the restructuring plan. 

Hwang, the former CEO of Samsung Electronics’ semiconductor business unit from 2004 to 2008, is well known for a theory dubbed “Hwang’s law,” which claims that the density of memory chips doubles every year.

The appointment of Hwang as KT chairman raised hopes that he would be able to prove the hypothesis once again, this time in the telecommunications industry, and revitalize the firm that was reeling from the aftermath of the alleged wrongdoings that took place under the chairmanship of his predecessor Lee Suk-chae.

Lee has been indicted for causing financial damage to the telecom firm by allegedly making investments in private companies at above-market prices and creating slush funds.

By Kim Young-won (wone0102@heraldcorp.com)

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