Seoul: KT Corp., a major telecom operator in South Korea, has appointed Park Yoon-young as its new chief executive officer (CEO). This decision comes as the company seeks to stabilize its operations following a large-scale data breach and drive new growth.

According to Yonhap News Agency, the company's shareholders approved the appointment of Park, who previously served as the president for enterprise business at KT. Park replaces former CEO Kim Young-shub, bringing over 30 years of experience to his new role since joining the company in 1992.

Park is known for his expertise in the business-to-business sector, having developed deep institutional knowledge and an extensive internal network over his long tenure at KT. As CEO, Park is expected to initiate an executive reshuffle and organizational overhaul. His focus will be on pursuing new growth strategies centered around artificial intelligence (AI).

The appointment follows a significant data breach reported by KT in September, which resulted in unauthorized micropayments and a subsequent decline in subscribers.