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[Alpha Biz=(Chicago) Reporter Kim Jisun] Suspicions have been raised that KT＆G spent tens of millions of won every year on overseas business trips to outside directors.
According to the industry on the 25th, outside directors of KT＆G have traveled abroad once a year since 2012, except for 2020-2021 during the COVID-19 pandemic. Outside directors went on business trips in the name of "overseas training" or "inspection of overseas workplaces." The business trip was a major tourist destination such as the United States and Europe, and they went on a cruise or had a hot air balloon experience there. KT＆G is known to have provided outside directors with business class round-trip tickets and luxury hotel accommodation, and paid cash of 500 dollars (about 670,000 won) per day in the name of meals and transportation. There were also outside directors who took their spouses on overseas business trips.
It has been revealed that even local employees of KT＆G overseas were mobilized to drive outside directors' vehicles or tourism, or local employees used corporate cards to entertain outside directors. The cost of overseas business trips, including airfare, accommodation and local protocol costs, is estimated to exceed 10 million won per outside director.
"The company is supporting outside directors to carry out related work in accordance with the regulations," KT＆G said. "It has traveled not only to overseas corporations but also to major markets once a year within seven days, and the average cost is 6.8 million won per person (excluding airfare and in-house regulations)." Regarding the allegations raised, he added, "Some cases have nothing to do with current outside directors in 2012 and 2014."
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
