KT Union: "Bylaw Amendments on Director Appointment and Governance Improvement Must Be Approved"

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The KT Labor Union has asserted that the amendment to the articles of incorporation for the appointment of directors and improvement of corporate governance must be passed to normalize the company's management. The KT Union is the largest union within the KT Group, consisting of 16,000 members.

On the 27th, the KT Union released a statement saying, "If the board of directors is formed with the appointed directors, it will be possible to resolve the confusion and management vacuum that have persisted and accelerate the appointment of a representative," emphasizing this point.

KT will hold its first extraordinary general meeting of shareholders on the 30th. At this meeting, the appointment of seven outside directors is scheduled to be approved, including Kwak Woo-young, former head of Hyundai Motor Vehicle IT Development Center; Kim Sung-chul, professor at Korea University Media Department; Ahn Young-kyun, director of the International Federation of Accountants (IFAC); Yoon Jong-soo, former vice minister of the Ministry of Environment; Lee Seung-hoon, representative partner of KCGI Global Division; Cho Seung-ah, professor at Seoul National University Business School; and Choi Yang-hee, president of Hallym University.

The KT Union stated, "Since the end of last year, there has been much confusion with candidates repeatedly withdrawing during the process of appointing a new representative. It is true that union members have had many concerns and worries about the resulting management vacuum and damage to the company's image," adding, "Through this extraordinary general meeting, the amendment for the appointment of directors and improvement of corporate governance must be passed to enable KT to achieve prompt management normalization."

They continued, "We formed a pool of outside director candidates based on recommendations from external professional organizations and shareholders, and through candidate shortlisting and final evaluation by the selection advisory group, we recommended seven outside director candidates," expressing hope that "this will enhance the diversity and transparency of KT’s future board composition and operations."

Regarding the appointment of the CEO, the union urged, "We strongly call for the swift appointment of a representative to promptly restore KT’s management without any setbacks caused by external circumstances or variables," and stated, "We will support the appointment of a representative who can quickly manage KT’s emergency management situation and present a future-oriented management vision."

They emphasized, "If there is any attempt to appoint a representative that ignores the efforts and results of corporate governance improvement so far and undermines management stability, we will firmly oppose and fight against it."

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