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New CEO Park Yoon-young |
South Korean mobile carrier KT Corp. has named Park Yoon-young, former head of its corporate division, as the sole candidate for chief executive officer.
Park is expected to focus on stabilizing the company by resolving the aftermath of a large-scale hacking incident – which led to unauthorized small-amount payments and personal data leaks – while also pushing forward innovation through strengthened artificial intelligence (AI) businesses.
According to KT on Tuesday, its nomination committee confirmed Park as the final candidate for CEO. The confirmation came after the committee conducted in-depth interviews with three candidates – Park, Joo Hyung-chul, a former presidential economic adviser and former SK communications CEO, and Hong Won-pyo, a former chief of SK shieldus Co.
Born in 1962, Park was the only long-serving KT executive among the interviewees. He joined the company’s predecessor in 1992 and has since held numerous positions, including network technology researcher, head of the enterprise business consulting division.
In 2020, he was promoted to president when the enterprise and global business divisions were merged.
The committee established its evaluation criteria by taking into account the CEO qualification requirements set out in KT’s articles of incorporation, assessments from an external advisory group, and opinions from key stakeholders.
Particular emphasis was placed on enhancing corporate value, securing internal and external trust, fostering a cooperative management environment, presenting a clear management vision and direction for change and innovation, and building a foundation for sustainable growth.
Park reportedly emphasized the importance of honoring commitments to the market and shareholders and presented practical measures to address pressing issues.
As an internal candidate, he was also highly regarded for his deep understanding of the organization, decision-making processes, ongoing businesses, and information and communications technology (ICT).
Park is scheduled to officially assume the role of CEO after gaining approval at the regular shareholders’ meeting set for March 2026. His appointment will require approval by at least 60 percent of the voting shares.
His term will be three years.
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