KT Establishes 'KT Cloud'... Appoints Vice President Yoon Dong-sik as Inaugural CEO

Cloud and IDC Business Capital Contribution in Kind

Yoon Dong-sik, CEO nominee of KT Cloud. Photo by KT

[Asia Economy Reporter Cha Min-young] Digital platform company KT announced on the 15th that it will separate its cloud and Internet Data Center (IDC) business through an in-kind contribution method to establish a new corporation, "KT Cloud."

The inaugural CEO of KT Cloud has been appointed as Vice President Yoon Dong-sik, an expert in the cloud sector within the KT Group.

KT aims to enhance competitiveness in the cloud and IDC business sectors through the launch of an independent corporation. With the establishment of KT Cloud, KT expects a virtuous cycle structure where the value of the cloud and IDC business, which has high growth potential, will be re-evaluated by the market, thereby increasing KT's corporate value.

KT Cloud will actively invest in AI infrastructure to secure global competitiveness in artificial intelligence (AI) cloud services. It will focus on a public cloud transition project worth 800 billion KRW and establish a dedicated business system for the public sector. To meet data center demand, it will supply large-scale IDCs while reducing carbon emissions by utilizing energy-saving technologies and renewable energy technologies.

Yoon Dong-sik, the appointed CEO of KT Cloud, stated, "With the launch of this new corporation, we will create new growth opportunities in the rapidly growing cloud and IDC market through aggressive investment and proactive partnerships and cooperation."

Born in 1963, Yoon graduated from the Department of Electronic Engineering at Korea Aerospace University and earned a master's degree in Electrical and Electronic Engineering from the Korea Advanced Institute of Science and Technology (KAIST). He has held positions including ▲ Managing Director of KT Cloud Promotion Headquarters ▲ Executive Director in charge of KTDS Business Infrastructure ▲ Executive Director of KT IT Division ▲ Vice President and Head of KT Cloud and IDC Business Promotion Office.

Meanwhile, KT plans to amend its articles of incorporation at the regular shareholders' meeting in March to provide a basis for in-kind dividends of subsidiary shares to protect shareholder value. If legislative discussions on corporate division-related system improvements are enacted, KT intends to reflect those changes as well.

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