Former KT CEO (president) Koo Hyun-mo has officially said he will not take part in KT's open recruitment for the next CEO, which runs through the 16th.
In a statement on the 14th, Koo said, "It is not the right path to undergo another screening under the current distorted governance structure," voicing deep concern about the current board system. Looking back on leading KT from 2020 to 2023, he said he aimed to build "corporations that contribute to national development and change customers' lives."
He noted that KT at the time was evaluated as "the most dramatically changed corporations," and that its share price outperformed the KOSPI by more than 10%, but said, "In the end, I had to leave the company against my will." He recently testified at a National Assembly audit that there was outside pressure in the KT CEO selection process during the Yoon Suk-yeol administration, saying, "The senior presidential secretary for policy planning asked me to resign through an acquaintance."
Koo strongly criticized the governance turmoil that unfolded at KT over the past three years. He stressed that the management vacuum caused by the CEO candidate resigning at the board's behest and even outside directors stepping down—leaving both the CEO and the board absent for six months—was "something that should never happen at corporations responsible for the national backbone telecom network."
He also pointed to problems with the current board, which continues to operate without explanation despite controversy over how it was formed. He said "bewildering decisions continued," such as directors whose terms were set to expire recommending one another for reappointment and creating personnel rules that do not conform to the articles of incorporation, adding, "It makes no sense to be screened again by those who created that very distorted structure."
Making official his decision not to join the open call, Koo dismissed the possibility of his return, saying, "It is not desirable for a predecessor to step forward again just because the company has fallen into a complicated and difficult situation." Instead, he expressed strong trust in internal talent. He said, "There are sufficiently capable candidates inside KT," and emphasized, "KT's governance becomes solid only when internal talent is chosen." He also urged restraint from "seat-keeping" applications by outsiders who do not understand KT's history and culture and the responsibilities of a backbone telecom operator, asking them to "refrain from participating." Regarding recent industry attention on the possibility of appointing an AI expert, he drew a line, saying, "AI is important, but an AI expert cannot be KT's CEO. Before being AI corporations, KT is corporations responsible for the national backbone telecom network."
He also pointed to wounds within the organization. Under the banner of expense structure innovation, thousands left the company; about 2,000 were assigned to jobs unrelated to their previous duties; and hundreds of externally recruited executives received higher pay than existing employees. He stressed that the conflict among "Total TF" members, in particular, must be resolved. Koo concluded, "No matter how smart, a CEO who cannot draw out employees' passion cannot succeed," adding, "I hope a leader will be appointed who respects KT members, trusts the capabilities of internal talent, and leads the organization in a healthy way."