Park Yun-young, former KT head of the corporations business (president) who was named as the next chief executive officer candidate for KT, is said to have held a first meeting with Kim Yong-heon, chair of the KT board, on the 29th. The two met for a breakfast meeting that also served as an introductory session at the Andaz Hotel in Gangnam-gu, Seoul, on Tuesday morning and discussed the company's management status and pending issues in wide-ranging terms.
At the meeting, Park and Kim shared a deep sense of the seriousness and importance of information security issues, including the recent unauthorized small-sum payment incident at KT and the leak of personal information caused by a server hacking. Both sides agreed to actively cooperate on follow-up measures to restore customer trust. They especially pledged a swift response to minimize public inconvenience and anxiety.
After the meeting, Kim said he conveyed feedback from conversations with shareholders, the labor union, and capital market stakeholders to Park and would help Park quickly grasp business matters and ensure a smooth handover. He also proposed direct communication to strengthen a partnership based on trust between the board and top management going forward.
Park Yun-young was selected as the final candidate for the next chief executive officer after an interview by KT's director nomination committee on the 16th. Park will take office officially if 60% or more of the voting shares approve at KT's regular shareholders meeting in Mar. next year.
In the wake of the recent hacking incident, stabilizing the organization and restoring trust in security have emerged as key tasks for KT. Park is expected to address these tasks and realign the organization. Park's specific personnel moves and organizational reshuffle are scheduled to take place after the joint public-private investigative team announces its findings and related customer damage remediation is completed.