Korea Exchange Announces Decision on KT's Designation as an Unfaithful Disclosure Corporation
[Asia Economy Reporter Eunmo Koo] The Korea Exchange announced on the 18th through a disclosure that it plans to decide whether to designate KT as an unfaithful disclosure corporation due to failure to comply with disclosure obligations. KT delayed disclosing the embezzlement and breach of trust allegations that occurred on the 4th until the 17th.
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Earlier, the Economic Crime Criminal Division of the Seoul Central District Prosecutors' Office summary indicted 10 executives, including KT CEO Koo Hyun-mo, on the 4th for violations of the Political Funds Act and embezzlement in the course of duty, and non-detained indictment was filed against four others, including former government relations department head Maeng Mo, on the same charges. However, former KT Chairman Hwang Chang-gyu was cleared as it was deemed difficult to recognize collusion with them.
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