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| KT 사옥. (사진=연합뉴스) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motor Group, the second-largest shareholder of KT, is said to have internally opposed the three outside directors subject to re-election at KT's general shareholders' meeting on the 31st.
According to the business community on the 29th, Hyundai Motor and Hyundai Mobis decided to oppose the appointment of Kang Choong-koo, a professor of electrical and electronic engineering at Korea University, Yeo Eun-jung, a professor of business administration at Chung-Ang University, and Pyo Chang-myung, an outside director of Hankook Tire & Technology.
As of the end of last year, Hyundai Motor Group currently holds a 7.79% stake in KT. Hyundai Motor has a 4.69% stake and Hyundai Mobis has a 3.1% stake.
Candidate Yoon Kyung-lim resigned as the next CEO of KT, and among the outside directors, outside directors Lee Kang-chul and Benjamin Hong resigned for personal reasons, and outside directors Kim Dae-yu and Yoo Hee-yeol voluntarily resigned the previous day, leaving only four outside directors of KT so far.
Three people, including director Kang, are seeking re-election as their terms have expired on the 31st. Kang Chung-gu and Yeo Eun-jung have been nominated as candidates for the audit committee.
Considering the characteristics of ownership decentralized companies that require greater governance transparency, Hyundai Motor Group is reportedly taking issue with the fact that major shareholders' opinions should be reflected in the major decision-making process, including the appointment of directors, but there was no such process over the appointment of outside directors.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
