KT to Hold Pivotal Board Meeting on CEO's Future and USIM Replacement for All Customers

Attention on Kim Youngsub's Reappointment Ahead of Next CEO Recruitment
Kim Youngsub Mentions "Considering Responsibility Including Resignation" at National Assembly Audit
USIM Replacement Review Expands from Hacking Victims to All Customers

On the afternoon of November 4, KT will hold a board meeting to simultaneously discuss the future of CEO Kim Youngsub and whether to replace USIM cards for all customers. This meeting is expected to be a turning point in determining whether Kim will be reappointed, as it coincides with the ongoing debate over responsibility for the recent unauthorized small payment incidents.

According to industry sources, KT plans to table and vote on the agenda to begin the process of appointing the next CEO at the board meeting held this afternoon. KT's articles of incorporation require that a pool of candidates be formed at least three months before the CEO's term expires. Accordingly, KT plans to begin the public recruitment process for the CEO within this month. Kim's current term runs until the shareholders' meeting in March next year.

Previously, Kim was subject to intensive questioning regarding the unauthorized small payment incidents during the National Assembly's Science, ICT, Broadcasting, and Communications Committee audit. At the time, he stated, "As I bear overall management responsibility, it is only right to take reasonable responsibility after addressing the situation to a certain extent," and added, "I will take appropriate responsibility, including resignation, if necessary."

Since KT abolished the 'CEO Reappointment Priority Review System' two years ago, even if Kim decides to seek another term, he will have to compete under the same conditions as other candidates.

The board will also discuss a plan to replace USIM cards for all customers. Following last month's unauthorized small payment incidents, KT has so far provided free replacements only to customers affected by hacking. However, after calls during the National Assembly audit to replace USIM cards for all customers, the company expanded its review of the issue. Kim stated, "We are in the final stages of preparing for a USIM replacement for all customers," and added, "If approved by the board, we will implement it."

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