KT, the nation’s second-largest mobile carrier, said on Tuesday that its board of directors had accepted CEO Lee Suk-chae’s letter of resignation.
In his statement, Lee said, “I would like to express my gratitude to the directors present here today for the meeting, and executives and officials who have made relentless efforts in a harsh environment for the firm. I also want to thank the customers and shareholders who have given love and care to KT.”
Pyo Hyun-myung, president of KT’s telecommunications and convergence, will serve as acting CEO until Lee’s successor is appointed.
The firm will form a committee to choose a CEO candidate as early as next week.
“We will try our best to minimize the impact of the managerial vacuum,” said the board of directors in a press release, urging the prosecution to quickly complete its investigation into Lee and the firm on charges of creating slush funds and causing financial damage to investors in the sales of 39 KT buildings and purchases of other businesses.
