Draft Statement by KT Corporation
"KT wishes to respond to the serious and unfounded allegations published in the Korea Times on 11 July in regards to alleged kickbacks paid to Telkom executives in South Africa in connection with the proposed transaction between Telkom and KT. No Telkom executive has ever asked for or been offered a kick-back or bribe by KT. KT would not have pursued a transaction if there was any hint of corruption whatsoever. KT has the utmost respect for the senior executives of Telkom. KT is eagerly awaiting further developments following on from the South African government’s cabinet decision of 30 May where it was stated that the strategic options for Telkom would be further explored. KT remains convinced that the transaction will be attractive to all Telkom's shareholders and employees as well as the SA government, SA consumers and public and remains ready to engage further with the SA government on this matter."