SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2011
Commission File Number 1-14926
KT Corporation
(Translation of registrant’s name into English)
206 Jungja-dong
Bundang-gu, Sungnam
Kyunggi-do
463-711
Korea
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: | May 6, 2011 | |
| KT Corporation | ||
| By: | /s/ Thomas Bum Joon Kim | |
| Name: Thomas Bum Joon Kim | ||
| Title: Managing Director | ||
| By: | /s/ Young Jin Kim | |
| Name: Young Jin Kim | ||
| Title: Director | ||
Disposition of Securities of Other Corporations
| 1. Details of the Issuer of the Securities | Name of company | New Telephone Company Inc. | ||||||||||||
Relationship to KT Corporation | Subsidiary | |||||||||||||
Total number of issued shares | 6,639,492 | |||||||||||||
Main business | Telecommunication | |||||||||||||
| 2. Details of Disposal |
Number of shares to be disposed | 5,309,189 | ||||||||||||
Shareholding ratio before disposition (%) | 79.96 | |||||||||||||
Disposition amount (KRW) | 371,915,400,000 | |||||||||||||
Number of shares holding after disposition | 0 | |||||||||||||
Shareholding ratio after disposition (%) | 0 | |||||||||||||
3. Reason of Disposition | Disposition with management premium | |||||||||||||
4. Date of Board of Directors’ Resolution of KT Corporation (Decision Date) |
May 4, 2011 |
| ||||||||||||
• Attendance of outside directors | Present | 6 | Absent | 2 | ||||||||||
• Attendance of the members of the Audit Committee |
Present |
4 |
| |||||||||||
| • | KT has disposed all of its NTC shares that it held. | |||||||||||
| • | New Telephone Company(NTC) is a mobile telecommunication company based in Maritime Province in Russia. | |||||||||||
| • | Paid-in capital amount of NTC is 576,480,003 RUB. | |||||||||||
| 5. Others | • | Disposition amount above is calculated by converting the selling price of 346 million USD to KRW at the exchange rate (1,074.90 Won/USD) by the Korean Exchange Bank on May 4, 2011. | ||||||||||
| • | Disposition amount may vary according to the RUB/USD exchange rate on the disposition date. | |||||||||||
| • | The disposition date is expected in June 2011. However, it may alter. | |||||||||||
