KT’s CEO Hwang Chang-kyu recommended for new termKT Chairman and CEO Hwang Chang-kyu has succeeded in extending his position at the country’s second-largest telecommunication service provider.
The committee that reviewed Hwang’s extension request announced on Thursday that it is nominating to shareholders in a meeting to be held in March that Hwang continue in his current post.
Hwang reportedly received high marks for his contribution toward improving the company’s performance since he took the helm in 2014. KT, which posted a 291.8 billion won operating loss in 2014, swung to a 1.29 trillion won operating profit the following year. As of the third quarter, the company has succeeded in accumulating an operating profit of 1.21 trillion won and the consensus in the market is that the company is likely to make 1.45 trillion won in operating profit, nearly a 20 percent year-on-year increase.