KT embroiled in lawsuit with shareholders

By Kim Young-won
  • Published : Jun 17, 2016 - 11:17
  • Updated : Jun 17, 2016 - 12:05
[THE INVESTOR] A group of KT’s shareholders on June 16 filed a lawsuit against the telecommunications company for allegedly infringing on their right to speak at the shareholders meeting in March.

The minority shareholders claimed in their complaint that the firm intentionally blocked them from entering the venue of the meeting for three hours in order to fill the front row seats with employee shareholders who sided with the firm.

“KT deliberately gave only those employee stockholders in the front row seats a chance to speak at the meeting, violating the stakeholders’ equality principle,” the group consisting of eight shareholders said.

KT CEO Hwang Chang-gyu.

They argued that janitors and guards only allowed those shareholders who held a red pass to enter the meeting room while keeping others without the pass from taking part in the meeting for three hours.

KT chief executive Hwang Chang-gyu also refused to give them a chance to speak during the meeting, they said.

By Kim Young-won (