South Korea’s telecommunications giant, KT Corp., initiated its inaugural organizational restructuring and executive shuffle after the appointment of its new CEO, Kim Young-shub, in August. The company’s vision has shifted towards becoming a “digital innovation partner” to establish itself as a leader specializing in ICT services.
Upon assuming the role of CEO in August, Kim Young-shub emphasized the importance of assembling a team with expertise in information and communications technology (ICT). This team aims to tightly integrate IT capabilities, particularly AI, with KT’s services, facilitating the company’s transition into a technology-centric entity.
In the recent annual reshuffle, KT streamlined its executive team, introducing changes to its C-suite
“We anticipate this year’s restructuring will begin KT’s significant progress as a digital innovation partner. Collaborating closely with our executives and employees to earn recognition from our customers through dedicated efforts,” stated CEO Kim.
Seung-pil, previously associated with industry giants like Microsoft, Yahoo, and Hyundai Card, brings experience in overseeing enterprise-focused IT services and driving advancements in AI-related businesses.
KT Corp. has been actively involved in AI-based service development for several years. The company aims to generate annual revenues exceeding KRW 1 trillion (US$771 million) from customized AI services by 2025. In June, the company outlined a comprehensive strategy for AI-driven service development, targeting to invest 7 trillion South Korean won (KRW) by 2027 to enhance its AI competitiveness.
Notably, the recent introduction of the GenAI service, ‘Mi:dm,’ tailored for enterprises, offers diverse language models to accommodate different company sizes and purposes. The full AI stack enables businesses to develop cost-effective services using large AI models without needing separate developments and learning infrastructure support.
As part of its organizational restructuring, KT discontinued its transformation division, responsible for overseeing management, global business, and finances. This move aimed to eliminate redundant positions and streamline the organizational structure. The company also implemented a 20% reduction in the number of high-level executives compared to the previous year.
KT has established a new technology innovation division to strategically integrate information technology with research and development, particularly in the business-to-business market. The formation of the “KT consulting group” under this division brings together AI and IT experts, strengthening the company’s AI research and development capabilities.
Oh Seung-pil will be seen leading the technology innovation division. Jung Woo-jin, an executive vice president with expertise in digital cloud technology consulting, will head the KT consulting group in the AI technology sector.
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