KT Announces Shortlist of CEO Candidates on the 28th... What Are the Next Steps?

KT CEO Koo Hyun-mo Withdraws from Next CEO Candidate Pool
Candidate Pool Narrowed to Around 8... Final Announcement on March 7

[Asia Economy Reporter Oh Su-yeon] KT CEO Koo Hyun-mo decided to withdraw from the pool of next CEO candidates on the 23rd. The KT board of directors plans to exclude CEO Koo from the candidate pool and continue the ongoing CEO appointment process. On the 28th, they will announce the final candidate list (shortlist), narrowing down from as many as 33 internal and external candidates to a single-digit number, and finalize the CEO candidate on the 7th of next month.

Currently, KT is conducting candidate verification and screening through a selection advisory group. The KT Governance Committee accepted applications from external candidates from the 10th to the 20th, receiving a total of 18 applicants. The internal candidate pool consists of 16 people, including CEO Koo. Additionally, to ensure fair evaluation, the selection advisory group was formed on the 16th with experts in economics and management, leadership, investment, law, and future industries.

KT CEO Koo Hyun-mo is giving a presentation at the 'KT AI Strategy Press Conference' held on the 16th at the Sofitel Ambassador Seoul Grand Ballroom in Songpa-gu, Seoul. Photo by Jinhyung Kang aymsdream@

With CEO Koo, the incumbent KT CEO and a leading candidate for the next CEO, expressing his intention to resign, the next CEO candidate pool has been narrowed down to 33 people. The KT Governance Committee will continue the evaluation of candidates excluding CEO Koo. For external candidates, the selection advisory group will screen candidates through first and second rounds of evaluation according to KT’s articles of incorporation. The Governance Committee will select interviewees based on these results. For internal candidates, the selection advisory group will first narrow down the pool, after which the Governance Committee will conduct a second round of evaluation and decide on interviewees. Through this process, the candidate pool, which was as large as 33, is expected to be reduced to around eight. In the 2019 CEO appointment, KT narrowed down 37 internal and external candidates to nine. The shortlist of interviewees is scheduled to be announced on the 28th.

The CEO Candidate Screening Committee will conduct interviews with those on the shortlist on March 7. The interviews will be conducted according to evaluation criteria set by the board of directors, incorporating opinions from key stakeholders such as domestic and international shareholders to select the optimal KT CEO. Currently, KT’s major shareholders include the National Pension Service, Hyundai Motor Company and Hyundai Mobis, Shinhan Bank, and the UK-based investment firm Silchester International, as of last month.

On the same day, the CEO Candidate Screening Committee will finalize one candidate as the final CEO nominee. This candidate will be formally appointed as CEO through a shareholder vote at the KT shareholders’ meeting scheduled for the end of March. The appointed CEO will lead the KT Group for the next three years.

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