0001193125-15-117125.txt : 20150402 0001193125-15-117125.hdr.sgml : 20150402 20150402093633 ACCESSION NUMBER: 0001193125-15-117125 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150402 FILED AS OF DATE: 20150402 DATE AS OF CHANGE: 20150402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KT CORP CENTRAL INDEX KEY: 0000892450 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14926 FILM NUMBER: 15745670 BUSINESS ADDRESS: STREET 1: 206 JUNG TA DONG BUNN DONG GU CITY: SUNGNAM CITY KOREA STATE: M5 ZIP: 463711 BUSINESS PHONE: 82317270932 MAIL ADDRESS: STREET 1: 206 JUNG JA DONG BUNN DONG GU CITY: SUNGNAM CITY KOREA STATE: M5 ZIP: 463711 FORMER COMPANY: FORMER CONFORMED NAME: KOREA TELECOM CORP DATE OF NAME CHANGE: 19971006 FORMER COMPANY: FORMER CONFORMED NAME: KOREA TELECOM DATE OF NAME CHANGE: 19950130 6-K 1 d901611d6k.htm FORM 6-K Form 6-K

 

 

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 April 2015

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  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: April 2, 2015
KT Corporation
By:

/s/ Youngwoo Kim

Name: Youngwoo Kim
Title: Vice President
By:

/s/ Jungsup Jung

Name: Jungsup Jung
Title: Director


Completion of Merger

 

1. Schedules of Merger

 

Schedules    KT Corporation    KT media hub
Date of resolution by the Board of Directors for the decision of the merger    January 7, 2015    January 7, 2015
Announcement of shareholder registry closure    January 20, 2015    —  
Date of merger agreement    January 26, 2015    January 26, 2015
Record Date of confirming shareholders that are entitled to exercise their rights to dissent from the merger    February 5, 2015    —  
Announcement of Small-Scale Merger    February 9, 2015    —  
Date of resolution by the Board of Directors for the approval of the merger    February 24, 2015    February 24, 2015
Record date of the merger    March 31, 2015    March 31, 2015
Date of resolution by Board of Directors for the announcement of Merger Completion    April 1, 2015    —  
Announcement of Completion of Merger    April 2, 2015    —  

ø Reference

Duration of registry closure    Start Date    February 6, 2015    —  
   Close Date    February 13, 2015    —  
Duration of notification of dissent from the merger by shareholders    Start Date    February 9, 2015    —  
   Close Date    February 23, 2015    —  
Date of announcement of submitting objections by creditors    February 25, 2015    February 25, 2015
Duration of submitting objections by creditors    Start Date    February 25, 2015    February 25, 2015
   Close Date        March 25, 2015    March 25, 2015
Date of registration of Merger    April 2, 2015    April 2, 2015

 

2. Changes of Shareholding Structure

There are no changes to the shareholding structure, as no new shares are issued for this Small-scale Merger.

 

3. Exercise of Appraisal Rights

No appraisal rights are available, as there are no new shares issued for this Small-scale Merger.

 

4. Measures of Protection for Creditors

KT Corporation circulated notice informing the procedure of submitting objections by creditors on newspaper “Seoul Shinmun” on February 25, 2015, and KT media hub circulated notice informing the procedure of submitting objections by creditors on own internet homepage (www.ktmediahub.com) on February 25, 2015. From February 25, 2015 to March 25, 2015, the duration of notification of submitting objections by creditors, no creditors submitted objections to either KT Corporation or KT media hub.

 

5. Lawsuits in relations to the Merger

No lawsuit has been filed related to this merger.


6. Allocation of New Shares

Not Applicable

 

7. Summary of Statement of Financial Position

(in millions of KRW)

 

Accounts    Before Merger      After
Merger
 
   KT
Corporation
    KT media
hub
    

Assets

                         

I. Current assets

     3,836,507        141,793         3,925,059   

Cash and cash equivalents

     469,255        59,293         528,548   

Trade and other receivables

     2,977,621        80,163         3,004,543   

Other financial assets

     16,433        568         17,001   

Inventories

     201,870        —           201,870   

Current income tax assets

     1,721        201         1,922   

Other current assets

     169,607        1,568         171,175   

II. Non-current assets

     21,083,789        31,029         21,034,818   

Trade and other receivables, net

     722,658        7,411         730,069   

Other financial assets

     136,581        3         136,584   

Property and equipment

     12,418,683        9,139         12,427,822   

Investment property

     694,626        —           694,626   

Intangible assets

     2,443,023        12,930         2,455,953   

Investments in subsidiaries, associates and joint ventures

     3,838,200        —           3,758,200   

Deferred income tax assets

     791,136        1,546         792,682   

Other non-current assets

     38,882        —           38,882   

Total Assets

     24,920,296        172,822         24,959,877   

Liabilities

                         

I. Current liabilities

     6,330,712        71,264         6,348,735   

Trade and other payables

     4,329,018        70,147         4,345,924   

Borrowings

     1,631,993        —           1,631,993   

Other financial liabilities

     19,137        —           19,137   

Provisions

     105,878        —           105,878   

Deferred revenue

     129,306        —           129,306   

Other current liabilities

     115,380        1,117         116,497   

II. Non-current liabilities

     8,983,730        1,718         8,985,448   

Trade and other payables

     783,887        —           783,887   

Borrowings

     7,363,547        —           7,363,547   

Financial lease liabilities

     —          735         735   

Other financial liabilities

     107,667        —           107,667   

Defined benefit liabilities, net

     502,354        983         503,337   

Accrued provisions

     88,362        —           88,362   

Deferred revenue

     131,168        —           131,168   

Other non-current liabilities

     6,745        —           6,745   

Total Liabilities

     15,314,442        72,982         15,334,183   

Equity

                         

I. Capital stock

     1,564,499        5,000         1,564,499   

II. Share premium

     1,440,258        74,927         1,460,098   

III. Retained earnings

     7,729,425        19,913         7,729,425   

IV. Accumulated other comprehensive loss

     (24,193     —           (24,193

V. Other components of equity

     (1,104,135     —           (1,104,135

Total Equity

     9,605,854        99,840         9,625,694   

Total Liabilities and Equity

     24,920,296        172,822         24,959,877   


Note 1) Above statement of financial position has been prepared based on the separate statements of financial position of KT Corporation and KT media hub as of December 31, 2014 and may differ from the statement of financial position on the record date of merger (March 31, 2015).

Note 2) Above statement of financial position of KT Corporation and KT media hub as of December 31, 2014 has been audited by the independent auditor.