KT chairman starts second term
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KT Chairman Hwang Chang-gyu speaks about the firm’s fifth-generation network vision at this year’s Mobile World Congress in Barcelona, Spain, Feb. 27. Hwang started his second term as chairman of the nation’s largest fixed-line operator, Friday. / Courtesy of KT
By Lee Min-hyung
KT Chairman Hwang Chang-gyu has started his second-term as chief of the nation’s dominant fixed-line operator, raising expectations that the mobile carrier will further raise its global profile.
KT shareholders approved his second chairmanship Friday, recognizing his leadership in halting the firm’s weakening profitability and draw up a specific long-term vision.
“I feel a strong sense of responsibility for shareholders who have trusted me to serve a second-term at one of the nation’s leading telecom operators,” Hwang said at the annual meeting. “KT will make all-out efforts to leap into becoming the global No. 1 mobile carrier.”
This comes at a critical time for the KT chief, who had been in a state of uncertainty as the company was recently said to be involved in the political scandal surrounding former President Park Geun-hye and her long-time friend Choi Soon-sil who is now behind bars.
Late last year, KT executives were suspected of receiving preferential treatment from political figures linked to the scandal, which critics said would hold back the firm’s plan to extend Hwang’s leadership.
Despite the murky outlook, Hwang has been voted on to lead the company for three more years, in recognition of his vision to reduce heavy reliance on the telecom sector and shift focus to next-generation growth areas such as fifth-generation (5G) networks.
During his first term, the KT chief underlined the importance of transforming the firm into a platform giant by taking full advantage of its expertise in managing big data and telecom technology.
He recently said the firm’s telecom unit will only account for 30 percent of sales by 2020, urging executives to push ahead with five new revenue areas ― media, smart energy, security, intelligent traffic control and healthcare.
A KT spokesman said: “For the next three years, KT will focus on becoming a global platform company as well as the most-innovative telecom giant.”
Hwang’s three-year passion has served as the foundation for the firm to draw up such a grand vision, he said.
At this year’s Mobile World Congress (MWC), Hwang stressed the growth potential of what he called the “intelligent network era,” which will arrive in a couple of years when 5G is commercialized.
In an MWC keynote speech, he said: “5G will be the key driving force to change the world, as it opens the intelligent network era,” adding that the next network standard will create infinite opportunities in emerging technology areas such as artificial intelligence, and virtual and augmented reality.