KT Approves Original Proposal at Regular General Meeting... Dividend Up 23% to 1,350 Won Per Share

Approval of Original Proposals at the 39th Regular General Meeting
CEO Koo Hyun-mo: "Full-Scale Digital Transformation"
Diversifying Business Portfolio
Entering New Digital Logistics and Bio Businesses

KT held the 39th regular general meeting of shareholders at 9 a.m. on the 29th at the KT Research and Development Center on Taebong-ro, Seocho-gu, Seoul, and approved all five proposed agenda items as originally planned.

[Asia Economy Reporter Cha Min-young] KT's regular general meeting of shareholders, which announced this year that it would accelerate its full-scale transition to a digital platform company (Digico), ended without any surprises. KT emphasized "enhancing shareholder value" by setting the dividend at 1,350 KRW per share, a 23% increase compared to the previous year.

On the 29th at 9 a.m., KT held the 39th regular general meeting of shareholders at the KT Research and Development Center on Taebong-ro, Seocho-gu, Seoul, and approved all five agenda items as originally proposed. The agenda items included ▲approval of the 39th financial statements ▲partial amendment of the articles of incorporation ▲appointment of directors ▲appointment of outside directors as audit committee members ▲approval of the director remuneration limit.

The dividend was confirmed at 1,350 KRW per share, an increase of 250 KRW (22.7%) from the previous year. Dividends will be paid starting from the 27th of next month.

Following the partial amendment of the articles of incorporation, two business purposes were added. KT added "freight transportation and freight forwarding business" for its digital logistics business and "manufacture and sale of medical devices" to promote bio-information business based on big data and cloud. Related contents were reflected in the articles of incorporation in accordance with the amendment of the Commercial Act and the enforcement of the Electronic Securities Act.

Regarding the appointment of directors, two inside directors and one outside director were appointed. Inside directors appointed were President Park Jong-wook, Head of the Management Planning Division, and President Kang Guk-hyun, Head of the Customer Division. Outside director Lee Kang-cheol, who has expertise in ESG (environment, social, and governance) and has served for three years, was reappointed. Outside director Kim Dae-yu, an expert in economic policy, was appointed as an audit committee member. The director remuneration limit remains unchanged from the previous year at 5.8 billion KRW.

KT CEO Koo Hyun-mo said, "Despite the challenging business environment due to COVID-19 last year, KT achieved growth in service sales, profits, and net income in 2020, and did its best to enhance shareholder value through share buybacks and dividend increases. This year, we will focus on raising corporate value through full-scale expansion of Digico-related businesses and restructuring of the business portfolio."

Meanwhile, KT conducted pre-disinfection inside and outside the meeting hall to ensure a "COVID-19-free clean general meeting." In accordance with the government's social distancing guidelines, a designated seating system was introduced, and two additional remote locations were connected to provide space for shareholders visiting the main meeting hall. Upon entering the meeting hall, a "Call Check-in" system was introduced to reduce the inconvenience of recording the entry log.

In particular, this general meeting attracted attention for active communication between the company and shareholders. Institutional investors attending the site directly questioned the chairman about the strategic direction following the Digico transition and the media and content strategy centered on KT Studio Genie. Individual investors also visited the meeting hall despite COVID-19.

This content was produced with the assistance of AI translation services.