0001193125-19-034701.txt : 20190212 0001193125-19-034701.hdr.sgml : 20190212 20190212061437 ACCESSION NUMBER: 0001193125-19-034701 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190212 FILED AS OF DATE: 20190212 DATE AS OF CHANGE: 20190212 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: 19587532 BUSINESS ADDRESS: STREET 1: 206 JUNGJA DONG, BUNDANG GU, STREET 2: SUNGNAM, KYUNGGI DO, 463-711, CITY: KOREA M5 STATE: M5 ZIP: 463-711 BUSINESS PHONE: 82-31-727-0114 MAIL ADDRESS: STREET 1: KT GWANGHWAMUN BUILDING EAST, STREET 2: 33 JONGNO-3-GIL, JONGNO-GU, CITY: SEOUL, 110-130, KOREA M5 STATE: M5 ZIP: 110-130 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 d670675d6k.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 February 2019

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:   February 12, 2019
KT Corporation
By:  

/s/ Seunghoon Chi

Name:   Seunghoon Chi
Title:   Vice President
By:  

/s/ Youngkyoon Yun

Name:   Youngkyoon Yun
Title:   Director

Form 6-K

1. Discovering errors on previously issued financial statements

During the year 2018, KT Corporation (“the Company”) discovered errors related to certain revenue recognition in prior years.

The Company has determined to revise the comparative financial statements for years prior to the year 2018 which will be disclosed in the financial statements for the year ended December 31, 2018.

2. The Effect of misstatement on previously issued financial statements

<FY 2017>

 

  •  

Consolidated Statement of Operations: None

 

  •  

Consolidated Statement of Financial Position: With the cumulative effect of the revision, total assets is increased by KRW 150 billion, and total liabilities and total equity are increased by KRW 16 billion and KRW 134 billion, respectively.

<FY 2016>

 

  •  

Consolidated Statement of Operations: The revision increases revenue and income tax expense, resulting in increases in operating profit and net income by KRW 43 billion and KRW 37 billion, respectively.

 

(in billions of Korean won)

    As Previously
Reported
(K-IFRS)		             As Revised
(K-IFRS)		      Adjustments  

Operating profit

      1,440      g        1,483        Increase of 43  

Profit for the year

      798      g        835        Increase of 37  

 

  •  

Consolidated Statement of Financial Position: With the cumulative effect of the revision, total assets is increased by KRW 150 billion, and total liabilities and total equity are increased by KRW 16 billion and KRW 134 billion, respectively.

<The cumulative effect as of January 1, 2016>

 

  •  

The retained earnings as of January 1, 2016 is increased by KRW 97billion with the revision of the error, reflecting the cumulative effect on both revenue and income tax expense

Revenue and profit in the prior period financial statements up to 2016 had been under-stated due to omission of data transferring from billing system to finance system.

 

*

The effects of errors indicated above are preliminarily, which has not been audited or reviewed and therefore may be subject to change upon completion of audit by the Company’s external auditor.

3. Date of resolution of Board of Directors (date of decision): February 12, 2019