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 October 2020
Commission File Number 1-14926
KT Corporation
(Translation of registrant’s name into English)
90, Buljeong-ro,
Bundang-gu, Seongnam-si,
Gyeonggi-do,
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 ☒ 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 ☒
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: October 13, 2020 | ||
| KT Corporation | ||
| By: | /s/ Seunghoon Chi | |
| Name: | Seunghoon Chi | |
| Title: | Vice President | |
| By: | /s/ Youngkyoon Yun | |
| Name: | Youngkyoon Yun | |
| Title: | Director | |
Decision to Acquire Shares by Subsidiary
KT Skylife, a subsidiary of KT, made a resolution to acquire Hyundai HCN and Hyundai Media in order to strengthen the capacity and synergy in Pay TV business.
| • | Date of Resolution: October 13, 2020 |
| • | Details of Acquisition |
Company Name | Hyundai HCN Co., Ltd. | Hyundai Media Co., Ltd. | ||||||
Principal Business | Television Broadcasting | Broadcast Program Production | ||||||
Capital Stock (KRW) | 35,000,000,000 | 3,017,428,000 | ||||||
Total Number of Issued Shares | 7,000,000 | 3,017,428 | ||||||
Number of the Shares to be Acquired | 7,000,000 | 3,017,428 | ||||||
Shareholding Ratio after Acquisition | 100.0 | % | 100.0 | % | ||||
Acquisition Value (KRW) | 491,100,000,000 | 29,000,000,000 | ||||||
Acquisition Method | Cash | |||||||
Total Shareholders’ Equity of KT Skylife (KRW) | 705,437,330,222 | |||||||
Scheduled Acquisition Date | July 30, 2021 (subject to change) | |||||||
