KT (KT) has released an update.
KT Corporation has announced that the Seoul Central District Court has reversed the initial guilty verdict for embezzlement charges against its 10 former executives, including the ex-CEO Hyeon-mo Ku, declaring them not guilty in a second trial. The company confirmed that no embezzlement amount will be reported due to the acquittal, while also stating that it will keep a close watch on any future developments in the judicial process. Investors are advised to note that the situation may evolve pending further legal actions.
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