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KT Declines After Hackers Leak Customer Data: Seoul Mover

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July 30 (Bloomberg) -- KT Corp., South Korea’s largest phone and Internet company, fell the most in seven months in Seoul trading after saying its customer data were leaked.

KT declined 3 percent to 32,000 won at the close of trading on the Korea Exchange, its steepest drop since Dec. 28. The benchmark Kospi index added 0.8 percent.

Personal information of KT’s mobile-phone subscribers was leaked by hackers and the data were subsequently recovered, the Seongnam, South Korea-based company said in a statement yesterday. KT asked police to investigate possible leaks of customer data on July 13 after spotting suspicious activities through internal monitoring, the carrier said.

“The data leakage news is hurting investors’ sentiment today,” Yang Jong In, an analyst at Korea Investment & Securities Co. in Seoul, said by telephone. “It’s still very premature to talk about what kind of impact it could have on the company’s fundamentals.”

Initech Co., a developer of equipment and software for computer data security, gained 5 percent to 3,890 won. SoftForum Co., which markets data security-related products, rose 3.1 percent to 2,480 won.

KT shares have fallen 10 percent this year, compared with a 1 percent gain for the Kospi index.

To contact the reporters on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net Jun Yang in Seoul at jyang180@bloomberg.net;

To contact the editors responsible for this story: Darren Boey at dboey@bloomberg.net Michael Tighe at mtighe4@bloomberg.net

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