KT held the first extraordinary general meeting of shareholders for 2023 on the KT R&D Center in Seocho-gu, Seoul on the thirtieth, and resolved items akin to ▲partial changes to the articles of incorporation ▲appointment of directors ▲appointment of out of doors directors to develop into members of the audit committee ▲appointment of members of the audit committee as originally drafted. .

On the shareholders’ meeting on today, it was decided to strengthen the role of out of doors directors-centered supervision of the board of directors management by reducing the variety of inside directors from three to 2 through a partial change within the articles of incorporation.

To strengthen the responsibility of the representative director, the multiple representative director system was abolished, and the usual for voting at the final shareholders’ meeting for the appointment of the representative director was raised from an abnormal resolution during which 50% or more of the voting shares were in favor to 60% or more in favor of the representative director candidate. has strengthened

As well as, the qualification requirements for the CEO were modified to 4 items: ▲corporate management expertise ▲leadership ▲communication competence ▲industry expertise, giving importance to a broad understanding of the KT group business and related experience.

As well as, the prevailing Representative Director Candidate Review Committee and the Outside Director Candidate Suggestion Committee were integrated into the Director Candidate Suggestion Committee, and the authority and roles related to the appointment of the CEO and out of doors directors were adjusted to make sure fairness within the screening of candidates for CEO.

The independence of the committees has also been further strengthened, with each the Director Candidate Suggestion Committee and the Corporate Governance Committee composed entirely of out of doors directors.

At this extraordinary shareholders’ meeting, seven experts in various fields akin to ICT, risk/regulation, ESG, accounting, finance, management, and future technology were appointed as recent outside directors to form the board of directors.

The newly appointed outside directors are Kwak Woo-young, former head of Hyundai Motor Vehicle IT Development Center, Kim Seong-chul, professor of media studies at Korea University, Ahn Young-kyun, director of IFAC on the International Federation of Accountants, Yoon Jong-soo, former vice minister of the Ministry of Environment, Lee Seung-hoon, representative partner of KCGI’s global sector, Cho Seung-ah, Seoul National University business school professor, Choi Yang-hee, Hallym University. rector, etc.

Director Ahn Young-gyun was individually elected as an outdoor director to function an audit committee member in keeping with the Industrial Act, and amongst the administrators appointed as outside directors, Lee Seung-hoon and Cho Seung-ah were appointed as audit committee members.

KT plans to start out the means of appointing the CEO in earnest across the newly formed board of directors and appoint the following CEO at the following extraordinary shareholders’ meeting.

“KT’s fundamentals, which mix stability and growth, remain unchanged,” said Park Jong-wook, acting CEO of KT.

Reporter Juyoung Lee of AI Times juyoung09@aitimes.com