SEOUL, Dec. 17 (UPI) -- South Korea's leading telecom operator, KT, said it appointed veteran executive Park Yoon-young as its new CEO.
Once more than 60% of participating shareholders approve the decision at an annual general meeting next March, Park will lead KT for a three-year term through early 2029.
The former state monopoly, which was fully privatized in 2002, is the country's 13th-largest conglomerate, employing around 55,000 people across 49 subsidiaries. Combined sales totaled $22 billion last year.
KT said Tuesday that Park has delivered strong results in the digital transformation and business-to-business sectors, leveraging his experience with the company and technology-driven management capabilities.
"Park is the right person to establish a foundation for sustainable growth under a new management vision, lead change and innovation, swiftly restore trust and build cooperative relationships with stakeholders," the company said in a statement.
