KT CEO Ku Hyeon-mo has decided to drop out of the race for leadership of the telecommunication firm for the next three years, the company said Thursday. “After Ku notified KT s board of directors of his intention, the board members moved to exclude him from the list of next CEO candidates,” KT said in a press release.
The Yoon Suk Yeol administration has indicated its intention to meddle in the governance of former public enterprises that have long since been privatized - two decades ago - as the government forced financial holding companies recently to replace their chairmen. Concerns are therefore growing over the possibility of nepotism spreading to both KT and POSCO Holdings, based on who ends up replacing their chief executives.
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