National Pension Service Supports Appointment of KT CEO Kim Young-seop
The National Pension Service has decided to vote in favor of appointing Kim Young-seop as CEO of KT.
On the 25th, the National Pension Fund Stewardship Committee held its 11th meeting to review the direction of the National Pension Service's voting rights on the agenda for KT's extraordinary shareholders' meeting scheduled for the 30th.
The committee decided to vote 'in favor' on all four agenda items, including the appointment of Kim Young-seop as CEO, director appointments, approval of the management contract, and amendments to the executive retirement pay regulations.
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As the largest shareholder holding 7.99% of KT's shares (as of the end of June), the National Pension Service opposed the KT board's decision last December to select former CEO Koo Hyun-mo as the next CEO candidate, stating that it "does not comply with the basic principles of the primary election," and former CEO Koo subsequently stepped down prematurely.
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