Outside director Yun Jong-su, who serves as chair of KT's ESG committee, gave up seeking another term ahead of the regular shareholders meeting at the end of this month.
According to the industry on the 16th, Yun recently conveyed to KT's board that he would decline to seek another term. At the shareholders meeting at the end of this month, Yun was to be included in the agenda item for appointing outside directors along with the proposal to appoint CEO candidate Park Yun-young and the appointments of Kim Young-han, a professor in the School of Electronic and Information Engineering at Soongsil University, Kwon Myung-sook, head of Intel Korea, and Seo Jin-seok, former head of EY Han Young.
Among the candidates announced last month to replace the four outside directors whose terms expire, Yun was the only one being considered for another term. Inside and outside the industry, some interpret his move as stepping down voluntarily amid an inevitable reshuffle of the board as the new management team takes office.
KT's board has faced questions over corporate governance and alleged interference with the CEO appointment authority. With Yun deciding not to seek another term, KT is expected to begin procedures to appoint a new outside director to oversee ESG. However, if a successor is not finalized before the shareholders meeting, the post could remain vacant for the time being.