KT's team of executives slims down, gets younger

By Kim Bo-eun

Kang Kook-hyun, left, and Park Jong-ook

Telecom giant KT has reduced the number of executives and filled positions with younger company members in its reshuffle and reorganization for 2021, unveiled Friday.

This reflects the firm's intention to become a more flexible organization suitable for transition into a digital platform company.

KT CEO Ku Hyeon-mo will manage the company with two new executive presidents. KT's head of customer business Kang Kook-hyun and head of management planning Park Jong-ook were promoted to the positions.

KT said Kang will be tasked with strengthening customer-centered management, while Park will take on a key role in the company's transition into a tech firm.

In the reorganization, KT placed greater weight on its business-to-business (B2B) brand, "KT Enterprise," by setting up a separate division for the unit. KT Enterprise launched in November to offer solutions and services for corporate clients in artificial intelligence (AI), big data and cloud computing.

KT Enterprise reflects a shift from KT's former focus on the business-to-consumer (B2C) market for mobile, internet and IPTV services.

The company also launched KT Labs under its AI/digital transformation convergence business division, which will be in charge of coming up with new projects in fields other than telecommunications.

KT also beefed up its taskforce directly affiliated with the CEO, for devising strategy and making investment decisions for future projects.

Half the 20 new executives are in their 40s, which makes the age group account for 28.7 percent of KT's executives.

KT appointed three new female executives in the company's promotions for 2021. Three other female executives have been put in charge of strategic planning, IT strategy and cloud and digital business.

With the latest appointments, women now account for 10.3 percent of executives at KT. There are nine women among 87 executives.

KT was launched as a state-owned firm in 1981. It was privatized in 2002, but the former state-run company was considered conservative in nature up until recently.

KT's organizational culture was regarded as holding it back from making advances into new industries, as those in leadership positions had worked for decades at KT when it was state-run.

The company is in the process of fostering a new culture and is undergoing a shift as members who joined after KT's privatization are starting to take key posts.

For KT, making the shift to a tech company is crucial, given its B2C markets are mostly saturated.

Ku, who will begin his second year as CEO next year, faces heavy tasks.

"The latest innovative reorganization and reshuffle is intended on accelerating KT's transformation into a digital platform company based on artificial intelligence, big data and cloud," the company said. "We will be reborn as a young and new KT through fundamental changes that are aligned to customers and the market."