KT - KT Corporation: All Eyes On New CEO Appointment
Elevator Pitch
I maintain my "Neutral" rating on Korean telecommunications service provider KT Corporation (KT) (KTCNF) [030200:KS]. Koo Hyun-mo will be appointed as the new CEO for KT Corporation pending shareholder approval at the Annual General Meeting in March, and all eyes are on possible changes in the company's business strategy. A key structural reason for the under-valuation of the company is the conglomerate discount assigned to the company, due to its involvement in other non-mobile businesses. The conglomerate discount for KT Corporation is unlikely to be narrowed, unless the company