KT Corp Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>KT Corp has submitted its 2023 annual report on Form 20-F, detailing financial performance and corporate information.</b>

AI Summary

KT CORP (KT) filed a Foreign Annual Report (20-F) with the SEC on April 30, 2024. KT Corp filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing covers financial data for the years 2023, 2022, and 2021. The company's former names include Korea Telecom Corp and Korea Telecom. KT Corp is listed under SIC code 4813 for Telephone Communications. The report includes details on various financial instruments and investments as of December 31, 2022.

Why It Matters

For investors and stakeholders tracking KT CORP, this filing contains several important signals. This filing provides a comprehensive overview of KT Corp's financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The inclusion of historical financial data from 2021 and 2022 allows for trend analysis and year-over-year comparisons, aiding in the evaluation of the company's growth trajectory and stability.

Risk Assessment

Risk Level: medium — KT CORP shows moderate risk based on this filing. The filing is a standard annual report (20-F) for a large telecommunications company, indicating a routine disclosure rather than a significant event, but it contains extensive financial data that requires careful analysis.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F filing to understand KT Corp's performance and potential risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 20-F filing.)
• 2024-04-30 — Filing Date (Date the 20-F report was filed.)
• 4813 — SIC Code (Industry classification for KT Corp.)

Key Players & Entities

• KT CORP (company) — Filer of the 20-F report.
• Korea Telecom Corp (company) — Former name of KT Corp.
• Korea Telecom (company) — Former name of KT Corp.

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company operates in a heavily regulated telecommunications industry, subject to various laws and regulations in South Korea and potentially other jurisdictions.
• Competition [medium — market]: KT Corp faces intense competition from other telecommunications providers in its key markets, which could impact market share and profitability.
• Technological Advancements [medium — operational]: Rapid technological changes in the telecommunications sector require continuous investment in infrastructure and services to remain competitive.
• Capital Expenditures [medium — financial]: Significant capital expenditures are required to maintain and upgrade network infrastructure, potentially impacting cash flow and financial flexibility.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the financial statements.
• 2024-04-30: Filing Date — Date the Form 20-F was officially submitted to the SEC.

Glossary

Form 20-F

An annual report required by the U.S. Securities and Exchange Commission (SEC) for foreign private issuers. (Provides a comprehensive overview of a foreign company's financial performance and business operations for investors.)

SIC Code

Standard Industrial Classification code used to categorize businesses by industry. (Helps in understanding the primary business activities of KT Corp within the broader economic landscape.)

Key Financial Figures

• $ — Republic. All references to "Dollars," "$," "US
  quot; or "U.S. dollars" are to the cu
• $1 — ch were, for U.S. dollars, 1,185.5 to US$1.00, 1,267.3 to US $1.00, and 1,289.3 to
• $1.00 — 1,267.3 to US $1.00, and 1,289.3 to US $1.00 on December 31, 2021, 2022 and 2023, re

Filing Documents

• d723914d20f.htm (20-F) — 8615KB
• d723914dex1.htm (EX-1) — 130KB
• d723914dex81.htm (EX-8.1) — 1KB
• d723914dex121.htm (EX-12.1) — 10KB
• d723914dex122.htm (EX-12.2) — 10KB
• d723914dex131.htm (EX-13.1) — 4KB
• d723914dex971.htm (EX-97.1) — 37KB
• 0001193125-24-123598.txt (&nbsp;) — 39908KB
• kt-20231231.xsd (EX-101.SCH) — 288KB
• kt-20231231_cal.xml (EX-101.CAL) — 159KB
• kt-20231231_def.xml (EX-101.DEF) — 942KB
• kt-20231231_lab.xml (EX-101.LAB) — 1531KB
• kt-20231231_pre.xml (EX-101.PRE) — 1380KB
• d723914d20f_htm.xml (XML) — 11043KB

Risk Factors

Risk Factors 2 Item 4. Information on the Company 20 Item 4.A. History and Development of the Company 20 Item 4.B. Business Overview 21 Item 4.C. Organizational Structure 44 Item 4.D. Property, Plant and Equipment 44 Item 4A. Unresolved Staff Comments 46 Item 5. Operating and Financial Review and Prospects 46 Item 5.A. Operating Results 46 Item 5.B. Liquidity and Capital Resources 60 Item 5.C. Research and Development, Patents and Licenses, Etc. 63 Item 5.D. Trend Information 63 Item 5.E. Critical Accounting Estimates 63 Item 6. Directors, Senior Management and Employees 63 Item 6.A. Directors and Senior Management 63 Item 6.B. Compensation 67 Item 6.C. Board Practices 68 Item 6.D. Employees 69 Item 6.E. Share Ownership 71 Item 6.F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 72 i Table of Contents Item 7. Major Shareholders and Related Party Transactions 73 Item 7.A. Major Shareholders 73 Item 7.B. Related Party Transactions 73 Item 7.C. Interests of Experts and Counsel 73 Item 8. Financial Information 73 Item 8.A. Consolidated Statements and Other Financial Information 73 Item 8.B. Significant Changes 75 Item 9. The Offer and Listing 75 Item 9.A. Offer and Listing Details 75 Item 9.B. Plan of Distribution 75 Item 9.C. Markets 75 Item 9.D. Selling Shareholders 75 Item 9.E.

Dilution

Dilution 76 Item 9.F. Expenses of the Issuer 76 Item 10. Additional Information 76 Item 10.A. Share Capital 76 Item 10.B. Memorandum and Articles of Association 76 Item 10.C. Material Contracts 82 Item 10.D. Exchange Controls 82 Item 10.E. Taxation 86 Item 10.F. Dividends and Paying Agents 95 Item 10.G. 95 Item 10.H. Documents on Display 95 Item 10.I. Subsidiary Information 95 Item 10.J. Annual Report to Security Holders 95 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 95 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 98 Item 12.A. Debt Securities 98 Item 12.B. Warrants and Rights 98 Item 12.C. Other Securities 98 Item 12.D. American Depositary Shares 98 Part II 100 Item 13. Defaults, Dividend Arrearages and Delinquencies 100 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 100 ii Table of Contents Item 15.

Controls and Procedures

Controls and Procedures 100 Item 16. [Reserved] 101 Item 16A. Audit Committee Financial Expert 101 Item 16B. Code of Ethics 101 Item 16C. Principal Accountant Fees and Services 101 Item 16D. Exemptions from the Listing Standards for Audit Committees 102 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 103 Item 16F. Change in Registrant's Certifying Accountant 103 Item 16G. Corporate Governance 103 Item 16H. Mine Safety Disclosure 104 Item 16I. Disclosure regarding Foreign Jurisdictions that Prevent Inspections 104 Item 16J. Insider Trading Policies 104 Item 16K. Cybersecurity 105 Part III 108 Item 17.

Financial Statements

Financial Statements 108 Item 18.

Financial Statements

Financial Statements 108 Item 19. Exhibits 109 iii Table of Contents PRESENTATION All references to "Korea" or the "Republic" contained in this annual report mean the Republic of Korea. All references to the "Government" are to the government of the Republic of Korea. All references to "we," "us" or the "Company" are to KT Corporation and, as the context may require, its subsidiaries. Our consolidated financial statements as of December 31, 2022 and 2023 and for each of the years in the three-year period ended December 31, 2023 and related notes thereto ("Consolidated Financial Statements") are prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). All references to "Won" or " " in this annual report are to the currency of the Republic. All references to "Dollars," "$," "US

View Full Filing

View this 20-F filing on SEC EDGAR