KT Corp Nomination Committee Names Nam CEO Candidate

SEOUL -(Dow Jones)- KT Corp.'s (KTC) chief executive nomination committee named Nam Joong-Soo a candidate to succeed Lee Yong-Kyung as president and chief executive of South Korea's largest fixed-line operator.

Nam, 50, is currently chief executive of KT's mobile affiliate KT Freetel Ltd. (032390.SE) - a post he has held since January 2003. Nam also served as chief financial officer of KT from 2001.

His appointment is subject to shareholders approval at a meeting slated for Aug. 19, KT said in a statement Saturday.

"The nomination committee selected Nam for his global mindset and his many years of experience in the telecommunications industry after serving in various capacities at KT and as chief executive of KT Freetel," KT said in its statement.

Lee, KT's current chief executive, said earlier this week he won't seek a second-year term as it is important to establish new leadership.

-By Yun-Hee Kim, Dow Jones Newswires; 822-732-2165; yun-hee.kim@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 19th June 2005