Form 6-K

(indicate by check mark whether the registrant files or will file annual reports under cover of

This Current Report on Form 6-K is being filed to incorporate by reference into Registration Statement No. 333-100251 on Form F-3, effective December 27, 2002, relating to $1,210,050,000 0.25% Convertible Notes Due 2007, $500,000,000 4.30% Bonds Due 2005 and Warrants to Purchase 9,270,200 Common Shares.

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.


KT Corporation

By:		/s/ Wha Joon Cho
Name:		Wha Joon Cho
Title:		Managing Director


1. Details of adjustment	Type of bond	Exchange price before adjustment	Exchange price after adjustment
1. Details of adjustment	Convertible notes due 2007	Won 58,963	Won 57,897

2. Adjustment of number of exchangeable common shares	Total outstanding principal amount of convertible notes due 2007 which have not been converted to common shares	Number of exchangeable common shares before adjustment	Number of exchangeable common shares after adjustment
2. Adjustment of number of exchangeable common shares	$11,245,000	246,439	250,976

3. Formula for adjusting exchange price	P x (M-sp)/M P: the conversion price before adjustment (or Won 58,963) M: the average market price per common share 10 days before the date of announcement of terms of such issuance or distribution (or Won 41,820) sp: the amount of special dividend payable per common share (or Won 755.84)

4. Method of adjustment	Exchange price after adjustment = P x (M-sp)/M

5. Reasons for adjustment	Adjustment according to covenant (adjustment will be made if the dividend payment exceeds 20% of the previous year)

6. Effective date of adjusted exchange price	January 1, 2005

7. Date of board resolution	February 4, 2005

- attendance of outside directors	Present	8
- attendance of outside directors	Absent	None

8. Date of board resolution	February 4, 2005

9. Miscellaneous	The effective date of adjusted exchange price is January 1, 2005. It will be retroactively effective immediately upon the approval at the general shareholders’ meeting on March 11, 2005. Above adjustments are subject to change pursuant to an audit by the company’s independent auditors or pursuant to the shareholders’ meeting.