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KT CEO meets venture capitalists amid COVID-19

KT CEO Koo Hyun-mo (at podium) speaks during a seminar held at Genie Music’s headquarters in Gangnam, Seoul, Wednesday. (KT)
KT CEO Koo Hyun-mo (at podium) speaks during a seminar held at Genie Music’s headquarters in Gangnam, Seoul, Wednesday. (KT)

KT CEO Koo Hyun-mo on Wednesday met with representatives of venture capital firms, urging them to look into new opportunities to prepare for the post-coronavirus era, the firm said Thursday.

Speaking during a seminar hosted by the telecommunications firm, Koo discussed some new business areas -- online education solutions, telecommuting platforms, telemedicine and others -- where the new coronavirus had strengthened demand.

Some 40 executives from up-and-coming venture capital companies were invited to the seminar, where Koo also listened to the opinions of the young leaders. Participants included Company K Partners CIO Lee Kang-soo, HB Investment CIO Park Ha-jin and Mirae Holdings CEO Kim Pan-gun.

“We need to prepare for emergency situations we didn’t need to be too worried about before, in regards to supply chains, employee safety and potential workplace shutdowns,” Koo said.

“We need to become self-sufficient in procuring necessary parts in case of a suspension of supply networks for various goods and services.”

He also pointed to Korea’s diagnostic capabilities and its ICT infrastructure, which the pandemic had highlighted, adding that supporting IT-based medical services could be a new path to advance overseas.

Participants asked KT about the company’s projects, including its research on epidemic preparedness, which recently received a 12 billion won ($9.7 million) pledge from the Bill & Melinda Gates Foundation.

Koo assumed the top position at the telecommunications firm on March 30.

By Shim Woo-hyun (ws@heraldcorp.com)
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