KT to cancel W1tr of stocks by 2028 for corporate value
KT Corp., a major South Korean mobile carrier, said Tuesday it will cancel 1 trillion won ($726 million) worth of treasury shares by 2028 as part of its efforts to enhance its corporate value. Under the "value-up program," KT will focus on improving profitability and evolving into a comprehensive artificial intelligence and information technology company, the company said in a statement. KT aims to achieve a 9 to 10 percent return on equity by 2028 by restructuring low-growth businesse
Nov. 5, 2024