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Former KT chief to stand trial for alleged graft

SEOUL, April 15 (Yonhap) -- The former head of local telecom giant KT Corp. was indicted Tuesday on charges of committing a host of corporate crimes including embezzlement, prosecutors said. Lee Suk-chae, 69, is under suspicion of causing financial losses worth 10.35 billion won (US$9.92 million) to KT, the country's top fixed-line operator and No. 2 mobile carrier, through a poor business decision before stepping down from his post in November, prosecutors said.

Former KT chief to stand trial for alleged graft

SEOUL, April 15 (Yonhap) -- The former head of local telecom giant KT Corp. was indicted Tuesday on charges of committing a host of corporate crimes including embezzlement, prosecutors said. Lee Suk-chae, 69, is under suspicion of causing financial losses worth 10.35 billion won (US$9.92 million) to KT, the country's top fixed-line operator and No. 2 mobile carrier, through a poor business decision before stepping down from his post in November, prosecutors said.

Former KT chief to stand trial for alleged graft

SEOUL, April 15 (Yonhap) -- The former head of local telecom giant KT Corp. was indicted Tuesday on charges of committing a host of corporate crimes including embezzlement, prosecutors said. Lee Suk-chae, 69, is under suspicion of causing financial losses worth 10.35 billion won (US$9.92 million) to KT, the country's top fixed-line operator and No. 2 mobile carrier, through a poor business decision before stepping down from his post in November, prosecutors said.

FTC slaps KT with 2.08 bln won fine for forcing unfair business contract

By Kang Yoon-seung SEOUL, April 14 (Yonhap) -- South Korea's antitrust watchdog said Monday it fined KT Corp., the country's top fixed-line operator, 2.08 billion won (US$2 million) for forcing an unjust contract on a local electronics manufacturer. According to the FTC, KT placed orders for 200,000 units with an initial production of 30,000 units of a low-end tablet PC, named the K-PAD, in 2010 from Enspert. KT was hurrying to release the product in the market before SK Telecom, its industry rival in the mobile carrier business, released Samsung's tablets.

KT to carry out voluntary retirement

By Kang Yoon-seung SEOUL, April 8 (Yonhap) -- KT Corp., South Korea's No. 2 mobile carrier, said Tuesday it will accept voluntary retirement from senior employees in an apparent bid to tighten its belt as it is dragged down by lackluster performances. The company said it reached an agreement with its labor union to allow employees who have worked 15 years or more at KT to retire, which accounts for 23,000 of the current 32,000 workers. Applications will be accepted from Thursday to April 24.

KT to carry out voluntary retirement

By Kang Yoon-seung SEOUL, April 8 (Yonhap) -- KT Corp., South Korea's No. 2 mobile carrier, said Tuesday it will accept voluntary retirement applications from senior employees in an apparent bid to tighten its belt as it is dragged down by lackluster performances. The company said it reached an agreement with its labor union to allow employees who have worked 15 years or longer at KT to apply for retirement. Of the company's 32,000 workers, about 23,000 are estimated to be eligible to apply. Applications will be accepted from Thursday through April 24.

KT to carry out voluntary retirement

By Kang Yoon-seung SEOUL, April 8 (Yonhap) -- KT Corp., South Korea's No. 2 mobile carrier, said Tuesday it will accept voluntary retirement from senior employees in an apparent bid to tighten its belt as it is dragged down by lackluster performances. The company said it reached an agreement with its labor union to allow employees who have worked 15 years or more at KT to retire, which would cover about 23,000 of the current 32,000 workers. Applications will be accepted from Thursday to April 24.

KT to launch new satellite by 2016

SEOUL, April 6 (Yonhap) -- KT Corp., South Korea's No. 2 mobile operator, plans to launch a new satellite in two years, industry sources said Sunday, in a bid to extend Seoul's claim to a trajectory once orbited by the now-suspended Mugunghwa-3. KT's plan to send the Mugunghwa-7 into its predecessor's orbit by 2016 came as South Korea's holding of the trajectory may be retrieved by a United Nations' telecom body if it is not used for more than three years.

Watchdog to probe telecom retailers on personal data management

SEOUL, March 20 (Yonhap) -- South Korea's telecom watchdog said Thursday it has opened an investigation into mobile carriers' retail shops across the country to root out any abuse of personal information. The Korea Communications Commission (KCC)'s move follows a series of alarming data leaks from mobile carriers amid increasing number of smartphone users.

Gov't mulls fines on KT for data leak, consumers say punishment too weak

SEOUL, March 17 (Yonhap) -- South Korea's telecom authorities may fine KT Corp. up to 100 million won (US$93,414) for a recent data leak, industry sources said Monday, a punishment some consumer groups argue is too weak. An investigation found that a group of hackers was behind the data theft from KT, exposing personal information of some 9.81 million clients of the country's second-largest mobile carrier.
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