KT CEO nominee Park Yoon-young (KT Corp.)
KT CEO nominee Park Yoon-young (KT Corp.)

KT Corp.'s board of directors has confirmed Park Yoon-young, former executive vice president of the enterprise business group, as the chosen candidate to be its next chief executive officer.

The decision was made during the board's meeting on Tuesday, following an in-depth interview process involving three candidates: Park, former presidential economic adviser Joo Hyung-chul and Hong Won-pyo, a former chief of SK Shieldus.

The board explained that the candidates were evaluated based on their ability to enhance corporate value, establish internal and external trust, foster a collaborative management environment, present a clear management vision for change and innovation and build a foundation for sustainable growth.

The board highlighted Park as a leader with substantial experience in KT's operations and technological expertise. Park has been recognized for his success in the digital transformation and business-to-business sectors, leveraging KT's key business strengths.

Park emphasized the importance of maintaining commitments to shareholders and the market, offering practical solutions to pressing issues. The board concluded that Park possesses the leadership qualities necessary to strengthen KT's future competitiveness.

KT board Chair Kim Yong-hun said, "We believe Park Yoon-young is the right person to establish a sustainable growth foundation under a new management vision, lead change and innovation, restore trust both internally and externally and build collaborative relationships with stakeholders."

Park will officially assume the role of CEO if he secures approval from at least 60 percent of participating shareholders at the upcoming general meeting scheduled for March.

He is expected to first address recent issues involving unauthorized small payments and personal information leaks at KT, then focus on advancing the artificial intelligence business, which is considered a key growth area for the future.


yeeun@heraldcorp.com