Kim Sung-joo: "Yoon Government Is Intervention King... Why Hold a Public Contest Instead of Appointing KT President?"

Kim Seong-ju, a member of the Democratic Party of Korea, criticized the government's involvement in the appointment process of the KT president on the 7th, pointing out the issue of government interference in private company personnel matters by asking, "If the president is going to appoint the KT president, why bother holding a public recruitment?"

At the Democratic Party's floor strategy meeting that day, Rep. Kim called the Yoon Seok-yeol administration the "king of interference," raising concerns about the current government's involvement in the appointment of CEOs at KT, POSCO, and other companies.

He said, "The first principle of the Yoon Seok-yeol government's National Pension Stewardship Code is 'Do not touch companies with owners, but do as you please with companies without owners,'" adding, "The Yoon Seok-yeol government interfered in the appointment of bank holding company chairpersons, ultimately sending former Ministry of Finance officials as parachute candidates, and now is openly intervening in the KT president appointment as well."

Rep. Kim stated, "The National Pension Service took the lead," explaining, "In December, the chairman of the National Pension Service said that the stewardship code should be strengthened for KT, POSCO, and others, and the newly appointed head of the fund management division said that intervening in the CEO appointments of KT and POSCO aligns with shareholder value."

Kim Sung-joo, Member of the Democratic Party of Korea./Photo by Yoon Dong-joo doso7@

He continued, "Eventually, the president stepped in," saying, "On January 30th, President Yoon Seok-yeol instructed during the Financial Services Commission briefing that the National Pension stewardship should operate for privatized public enterprises. As a result, KT initially recommended CEO Koo Hyun-mo alone but canceled it and is now re-conducting the president appointment process."

Rep. Kim added, "(President Yoon) blatantly interfered in the People Power Party leadership election and now openly intervenes in the appointment of private company presidents."

Earlier, Koo Hyun-mo, the KT CEO whose reappointment had been confirmed, withdrew his candidacy for the next CEO amid criticisms from key officials in the presidential office and People Power Party lawmakers about self-renewal.

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