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The global head of KT Corp. resigned following a legal battle over the executive’s recruitment, the company said on Monday.
Kim Cheol-su, the head of KT’s global partnership development and consulting business, stepped down after a district court last week granted LG Uplus an injunction blocking Kim’s transfer to the rival firm.
Kim, a former vice president of LG Uplus overseeing the mass service division, retired from the post in March and moved to KT in September.
Right after he moved to KT, LG Uplus applied for an injunction, stating, “He violated the agreement of not working for rival companies within a year of retirement.”
The court sided with LG Uplus, saying that “Kim should not be hired by KT until next March. If violated, he should pay 3 million won ($2,800) per day to LG Uplus.”
LG Uplus said this was a natural outcome. “We have constantly explained our position to the court and they made a rational decision,” an official there said.
However, KT does not appear set to accept this decision. “This is viewed as preventing the freedom of business activity. We filed an appeal to re-seek the court’s opinion,” KT official said.
(shinjh@heraldcorp.com)
Kim Cheol-su, the head of KT’s global partnership development and consulting business, stepped down after a district court last week granted LG Uplus an injunction blocking Kim’s transfer to the rival firm.
Kim, a former vice president of LG Uplus overseeing the mass service division, retired from the post in March and moved to KT in September.
Right after he moved to KT, LG Uplus applied for an injunction, stating, “He violated the agreement of not working for rival companies within a year of retirement.”
The court sided with LG Uplus, saying that “Kim should not be hired by KT until next March. If violated, he should pay 3 million won ($2,800) per day to LG Uplus.”
LG Uplus said this was a natural outcome. “We have constantly explained our position to the court and they made a rational decision,” an official there said.
However, KT does not appear set to accept this decision. “This is viewed as preventing the freedom of business activity. We filed an appeal to re-seek the court’s opinion,” KT official said.
(shinjh@heraldcorp.com)
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Articles by Korea Herald
