Hyundai Motor Group Chairman Chung Eui-sun. (Photo=Hyundai Motor)

 

[Alpha Biz= Reporter Paul Lee] Hyundai Motor Group became the largest shareholder of KT. The National Pension Service, the largest shareholder, sold its stake.

KT announced on the 2nd that the largest shareholder changed from the National Pension Service (7.51%) to Hyundai Motor Group (7.89%). As the National Pension Service sold 2.88 million shares of KT on the same day, its stake changed from 8.53% to 7.51%.

KT said, "We confirmed the change in the share of the largest shareholder according to the report on the stock ownership status submitted by the National Pension Service."

However, if Hyundai Motor Group is to become the largest shareholder of KT, it must be approved by the government. To become the largest shareholder of KT, a government carrier, it must be approved by the Ministry of Science, Technology, Information and Communication and approved by the minister.

 

 

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