Amid pressure from the government and the ruling party and an investigation by the prosecution, KT CEO-nominee Yoon Gyeong-rim is known to have suddenly expressed his resignation. KT’s new union criticized the KT board of directors for overreacting personnel and asked the board of directors to take responsibility.
It is known that KT CEO-nominee Yoon Kyung-rim suddenly expressed his resignation on the 23rd, a week before the shareholders’ meeting. It is possible that the government’s ruling party’s pressure on KT and the prosecution’s investigation had an impact while nominee Yoon Kyung-rim did not clearly state his position.
The appointment of nominee Kyung-rim Yoon was unclear. At the shareholders’ meeting, there was a high possibility that the National Pension Service, which is the largest shareholder of KT and the government’s influence, would take an opposing position. Last year, the KT board of directors decided to reappoint Koo Hyun-mo as CEO, but the National Pension Service took the opposite position and held a re-commission. In the re-competition, when candidates with ties to the government and the ruling party were eliminated, the President’s office and the people’s power directly criticized the appointment of KT’s CEO. The power of the people defined KT as a ‘interest cartel’.
Recently, the prosecution started an investigation into allegations of misconduct raised against CEO Koo and appointee Yoon, including driving KT Telecop work, illegal support related to CEO Koo, and entertaining outside directors.
Inside KT, there is an atmosphere that sees not only ‘political pressure’ but also the KT board of directors, which caused controversy.
The KT new union issued a statement on the 23rd, saying, “What is clear is that this has put the company’s confusion out of control,” and criticized, “It was irresponsible for Yoon Kyung-lim to accept the candidate, and it is cowardly to resign now.” KT’s new union said, “This chaos was predicted since President Koo Hyun-mo pushed for an unreasonable reappointment.” It came from being chosen carefully.”
The KT new union said, “The KT new union, which has consistently opposed KT becoming a concession cartel and a parachute paradise, will firmly hold the board of directors responsible for causing this chaos.” Regarding the suspicion of painting, we will fight to get rid of it.”
Democrats came out to criticize the government. Cho Seung-rae, secretary of the National Assembly’s Science and Technology Information Broadcasting and Communications Committee, said, “When I look at what is happening under the Yoon Seok-yeol regime over the appointment of KT’s CEO, I get the illusion that we are back in the 1980s.” Respect autonomous decisions and refrain from abnormal interventions. You may be able to forcefully press and threaten to take away your seat, but keep in mind that you will be judged by the people and history,” he said.
A KT official said that “nothing has been confirmed so far” regarding the rumor.