KT to hold regular shareholders' meeting on the 31st...Appointment of President Park Yoon-young and Reorganization of the Board of Directors

*This content was translated by AI.

KT will hold a regular general shareholders' meeting on the 31st to deal with the reorganization of the board of directors and the revision of the articles of incorporation, including the appointment of Park Yoon-young as a candidate for CEO. The shareholders' meeting is expected to be a watershed in the new management system as major governance agendas are proposed at once, including the appointment of a CEO, appointment of internal and external directors, appointment of audit committee members, approval of treasury stock holding and disposal plans, and approval of management contracts.

According to the Financial Supervisory Service's electronic disclosure on the 11th, KT decided to hold the 44th regular general shareholders' meeting in the auditorium on the second floor of the KT R&D center in Seocho-gu, Seoul, on the 31st through a resolution of the board of directors the previous day.

The main agenda includes the appointment of Park Yoon-young as a candidate for CEO and the appointment of Park Hyun-jin, Millie's Seo Jae as an in-house director.

It also contains the agenda for the appointment of outside directors and the change of the name of outside directors to 'independent directors'.

The appointment of four outside directors, who are about to expire, will also be voted on. Previously, the KT Director Candidate Recommendation Committee announced a decision to recommend candidates for four outside directors who are scheduled to be replaced.

As a result, a re-election agenda for Yoon Jong-soo (a full-time adviser to law firm Kim & Chang), the only one of the four existing members to be reappointed, and the appointment of an outside director for Kim Young-han, a professor of electronic and information engineering at Soongsil University, will be proposed. The agenda for the appointment of Kwon Myung-sook, former CEO of Intel Korea, and Seo Jin-seok, former CEO of EY Hanyoung, an outside director and candidate for audit committee, was also raised.

At the same time, KT will add a target business for the monetization of intellectual property rights to its business purpose. In addition, the purpose of the project will be deleted upon the termination of the personal credit information management business (my data business).

Meanwhile, KT announced that it will change the method of appointing candidates to a "distributed replacement structure" in relation to outside directors who have caused controversy over "self-serving consecutive terms." It has been operated in a centralized structure in which four candidates for outside directors are replaced. It also promised to strengthen the transparency of the board of directors, including the introduction of an evaluation system for outside directors.

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*This content was translated by AI.