KT CEO Koo Hyun-mo "Interested in Transitioning to a Holding Company Structure"

Revealed at the Regular General Meeting on the 31st
"We Believe There Is Room for Stock Price Growth"

[Asia Economy Reporter Cha Min-young] KT CEO Koo Hyun-mo said on the 31st, "Although we are not a holding company, we are definitely interested in transitioning to a holding company structure."

On the morning of the same day, Koo gave a positive response to a question about the possibility of reorganizing into a holding company at the regular shareholders' meeting held at the KT Research and Development Center in Seocho-gu, Seoul.

He emphasized, "I still think KT's stock price is low and that the actual value is not reflected in the stock price. Although the overall market fell more than 10% this year, KT's stock price rose by 15%, so there is still room for growth." As of the closing price on the 31st, KT's stock price was 34,400 KRW, up more than 4,000 KRW per share from 30,350 KRW at the beginning of the year.

Regarding the recent news that KT subsidiaries are preparing for IPOs (Initial Public Offerings), he explained, "This year, the companies preparing for IPOs are Millie's Library and K-Bank. K-Bank is expected to prepare around the end of this year to early next year. We expect them to be valued significantly, and there are also some companies like BC Card that we hope will go public."

He forecasted that the stock price would naturally rise further, supported by the value of the subsidiaries. He added, "Last year, we grouped content under Studio Genie as an intermediate holding company, and in finance, we structured it with BC Card at the center and K-Bank under it. We are seriously considering restructuring the business and transitioning to a holding company structure, and if that happens, I believe KT's stock price will have room to rise."

Meanwhile, Park Jong-wook, KT co-CEO, voluntarily resigned ahead of the re-election vote for inside directors one day before the regular shareholders' meeting. KT explained that it was for personal reasons. With Park's resignation, the position of Chief Safety Officer (CSO) is also expected to become vacant. KT had previously announced on January 27 that the management structure changed from a sole CEO system under Koo Hyun-mo to a dual CEO system with Koo Hyun-mo and Park Jong-wook. Park, who was head of the management planning division, became CEO through the CSO position.

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