Close to 900 shareholders meeting cafe members
Presidential Office “Cartel, KT is no exception” “Exercise shareholder rights to shake political power” 2.65 million shares 1.01%… quick increase in participation
When Yoon Gyeong-lim, head of KT’s transformation division (president), was selected as the final candidate for the next CEO, the government and ruling party announced a ‘vote showdown’ at the shareholders’ meeting, and a minority shareholders’ meeting declared the exercise of collective shareholder rights to ‘shake KT’ by the political circle, with 900 members. is approaching Attention is focusing on whether President Yoon will be able to cross the threshold of the shareholders meeting.
On the 8th, the day after the selection of the final candidate for KT CEO, the atmosphere seemed to have eased some of the conflict between the political world and KT. At the request of President Yoon, KT announced that it would form a governance improvement task force (TF) and improve the problems raised by the National Pension Service and others to create a governance structure that is recognized externally. On the same day, the President’s Office concluded that the “cartel” mentioned by President Yoon Seok-yeol at the cabinet meeting the previous day was “repeatedly requesting the usual opinion that the cartel with vested interests and interests that cause suffering to the people must be rooted out” and did not refer to KT. In particular, as Lim Seung-tae, an adviser to Hwawoo Law Firm, who served as a permanent economic adviser in the presidential candidate’s camp, was nominated as a new outside director, it was interpreted that the political world seemed to have accepted KT under President Yoon’s system to some extent.
However, on the 9th, an official from the presidential office said in a phone call with the Seoul Shinmun, “I didn’t mean KT, but KT is no exception.” Planted and intervened in the interest, and that is the cartel.” He continued, “The board of directors is trying to cover up the suspicions during the term of office of the predecessor by somehow making a person close to CEO Koo the successor.” said.
Earlier on the 7th, Park Seong-jung, the ruling party secretary of the National Assembly Science and Technology Information Broadcasting and Communication Committee, also announced that “if the board of directors has decided that, there will be a next step called the general meeting of shareholders,” so a fierce vote showdown took place at the shareholders’ meeting scheduled for the 31st. expected to be quality A civic group also accused CEO Koo and President Yoon of breach of trust to the Seoul Central District Prosecutor’s Office.
The ‘KT Shareholders’ Meeting’ cafe, which was opened on the 25th of last month, stimulated by the government’s movement, had 870 members on the afternoon of the 9th. The number of shares that they announced to participate in exercising their shareholder rights is rapidly increasing, exceeding 2.65 million shares. This corresponds to about 1.01% of KT’s total issued shares of 261,111,808 shares. It is a figure that is far short of holding a vote against major shareholders such as the National Pension Service (8.53%). However, less than half of the cafe members have expressed their participation. As the shareholders’ meeting approaches, it is predicted that the number of shares that will actually be delegated to President Yoon’s favor may far exceed this. Minority shareholders own 57.36% of KT.
Reporter Kim Min-seok
