KT (KT) has released an update.
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KT Corporation has announced that the Seoul Central District Court has reversed the initial guilty verdict for embezzlement charges against its 10 former executives, including the ex-CEO Hyeon-mo Ku, declaring them not guilty in a second trial. The company confirmed that no embezzlement amount will be reported due to the acquittal, while also stating that it will keep a close watch on any future developments in the judicial process. Investors are advised to note that the situation may evolve pending further legal actions.
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