KT Corp Appoints New CEO 617173

KT touts new management strategy with the appointment of Nam Joong-soo as CEO

August 24, 2005

4 Min Read

SEOUL, South Korea --

  • Nam Joong-soo appointed CEO of KT at the general shareholders' meeting held on August 19, 2005

  • New CEO stresses the need to see things from a customer's standpoint, a sense of ownership, and an open corporate culture

  • Public and social responsibility as a corporate citizen is a critical asset for sustainable growth

"Until customers are impressed…. Customers should be a central part of our new management strategy to make a new leap forward"

This is the central theme of the new CEO’s management philosophy.

KT held a general shareholders' meeting at 10 am on August 19, 2005 at the KT Research Center in Umyeon-dong, Seoul. At the meeting, Nam Joong-soo was appointed the 9th CEO of the company and the inauguration ceremony was held at 5 pm the same day at the KT headquarters in Bundang, Gyeonggi-do.

In his inauguration speech, Nam stressed the need to see things from a customer's point of view, a sense of ownership and a corporate culture of open mindedness.

Only when the company is able to put itself in the customer's shoe and see things from a customer's standpoint, it can find a new growth engine, and employees can be proud and passionate about their company when each one of them considers themselves the owner of the company. In addition, open mindedness as a corporate culture across the company is essential to bring about desired changes as employees are better able to exchange ideas in constructive discussions and be receptive to criticism to reach a consensus in such a corporate culture.

Furthermore, Nam emphasized the role of KT as a public entity and said that he will "make KT a company that takes the public and social responsibility as a leading corporate citizen as well as strengthening profitability and growth potential, thereby building trust with customers." He also said, "the public and social responsibility is a critical asset for the company's sustainable growth."

The inauguration ceremony was unique enough to signal a new wave of changes in the management of the company.

In addition to KT employees, the event was attended by more than 500 guests including Jeong Gi-hwan, a student using NESPOT, KT's wireless Internet service, Choi In-mo, a farmer using Internet in his farming, Hwang Jin-sin, head of Bundang branch of the Beautiful Store, a non-profit organization that sells used clothes and other items donated by citizens and uses the proceeds to help the needy people, Jeon Jae-deok, a model for KT's commercial film, Choi Chan-yeong, a self-employed business man and a shareholder of KT, Lee Da-som who regained her hearing ability through the program of helping children with hearing disability sponsored by KT, and Kang Min, a professional gamer.

Nam impressed the attendees with his presentation using various special images instead of simply reading the prepared speech at the podium.

The ceremony was followed by a reception which was carefully organized with a classic performance and various events.

"Before I came to this inauguration ceremony, I just thought that KT is a huge company and that's all. But this kind of unique inauguration ceremony made me think that KT cares a lot about customers, and I think I will keep an eye on what's going on with KT and how the company will bring about new changes in the future," said Lee Seung-yeon, a 39-year old housewife who attended the occasion.

"I was impressed by his speech, particularly when he said that each and everyone of us as employees is the owner of the company, not some individuals or their family members like in the case of other chaebols," Choi Man-gyu, a 40-year old KT employee said, expressing his determination that he will take the lead in doing whatever is good for the company no matter how small it may be.

At the extraordinary session of the general shareholders' meeting that began at 10 am the same day, a resolution was passed for 3 agenda including the revision of the Articles of Incorporation, appointment of an outside director, and the proposed management contract of the new CEO in addition to appointment of the new CEO. Mun Guk-hyeon, CEO of Yuhan Kimberly was re-appointed as independent director.

KT Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like