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 December 2025

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 ☐

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: December 1, 2025
KT Corporation
By:	/s/ Jaegil Choi
Name: Jaegil Choi
Title: IRO
By:	/s/ Sanghyun Cho
Name: Sanghyun Cho
Title: IR Team Leader

KT Corporation and Its Subsidiaries

Consolidated Interim Financial Statements

September 30, 2025 and 2024, and December 31, 2024

ATTACHMENT: INDEPENDENT AUDITOR’S REVIEW REPORT

KT Corporation

KT Corporation and Its Subsidiaries

Index

September 30, 2025 and2024, and December 31, 2024

	Page(s)
Report on Review of Consolidated Interim Financial Statements	1-2
Consolidated Interim Financial Statements
Consolidated Interim Statements of Financial Position	3-4
Consolidated Interim Statements of Profit or Loss	5
Consolidated Interim Statements of Comprehensive Income	6
Consolidated Interim Statements of Changes in Equity	7-8
Consolidated Interim Statements of Cash Flows	9-10
Notes to the Consolidated Interim Financial Statements	11-77

Deloitte Anjin LLC<br> <br><br><br><br>9F., One IFC,<br> <br>10,<br>Gukjegeumyung-ro,<br> <br>Youngdeungpo-gu, Seoul<br><br><br>07326, Korea<br> <br><br><br><br>Tel: +82 (2) 6676 1000<br> <br>Fax: +82 (2) 6674 2114<br><br><br>www.deloitteanjin.co.kr

Independent Auditor’s Review Report

[English Translation of Independent Auditor’s Review Report Originally Issued in Korean on November 14, 2025]

To the Shareholders and the Board of Directors of KT Corporation.

Reviewed Consolidated Interim Financial Statements

We have reviewed the accompanying consolidated interim financial statements of KT Corporation and its subsidiaries (the “Group”). The consolidated interim financial statements consist of the consolidated statement of financial position as of September 30, 2025, and the related consolidated interim statements of profit or loss and comprehensive income for the three-month and nine-month periods ended September 30, 2025 and 2024, and changes in equity and cash flows for the nine-month periods ended September 30, 2025 and 2024, all expressed in Korean won, and a summary of significant accounting policies and other explanatory notes.

Management’s Responsibility for the Consolidated Interim Financial Statements

Management is responsible for the preparation and fair presentation of these consolidated interim financial statements in accordance with Korean International Financial Reporting Standards (“K-IFRS”) No. 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of consolidated interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these consolidated interim financial statements based on our reviews.

We conducted our reviews in accordance with the Review Standards for Quarterly and Semi-annual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of consolidated interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing(“KSA”) and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/kr/about to learn more about our global network of member firms.

Deloitte Touche Tohmatsu Limited is a private company limited by guarantee incorporated in England & Wales under company number 07271800, and its registered office is Hill House, 1 Little New Street, London, EC4a, 3TR, United Kingdom.

LOGO

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial statements referred to above do not present fairly, in all material respects, the financial position as of September 30, 2025, and its financial performance and its cash flows for the nine-month periods ended September 30, 2025 in accordance with K-IFRS No.1034 Interim Financial Reporting.

Other Matters

We have audited the consolidated statement of financial position of the Group as of December 31, 2024, and the related consolidated statement of profit or loss, comprehensive income, changes in equity and cash flows for the year then ended, which are not accompanying this report, in accordance with KSA. We expressed an unqualified opinion on those consolidated financial statements in our audit report dated March 13, 2025. The accompanying consolidated statement of financial position as of December 31, 2024, presented for comparative purposes, is not different from the audited consolidated statement of financial position above in all material respects.

LOGO

Seoul, Korea

November 14, 2025

Notice to Readers

This review report is effective as of November 14, 2025, the auditor’s review report date. Certain subsequent events or circumstances may have occurred between the auditor’s review report date and the time the auditor’s review report is read. Such events or circumstances could significantly affect the financial statements and may result in modifications to the auditor’s review report.

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Financial Position

As of September 30, 2025 and December 31, 2024

(In millions of Korean won)		September 30,2025		December 31,2024
Assets
Current assets
Cash and cash equivalents	4,29	~~W~~	3,890,295	~~W~~	3,716,680
Trade and other receivables, net	4,5,29		6,577,177		6,147,456
Other financial assets	4,6,29		1,500,341		1,344,248
Current tax assets			3,456		1,213
Inventories, net	7		443,844		940,209
Other current assets	8		2,708,446		2,102,131
Total current assets			15,123,559		14,251,937
Non-current assets
Trade and other receivables, net	4,5,29		1,889,761		1,540,727
Other financial assets	4,6,29		3,028,400		2,759,170
Property and equipment, net	9		14,121,140		14,825,814
Right-of-use<br>assets	16		1,181,920		1,212,770
Investment properties, net	9		2,814,140		2,299,616
Intangible assets, net	9		1,665,531		1,862,740
Investments in associates and joint ventures	10		1,588,684		1,562,232
Deferred tax assets			624,742		671,609
Net defined benefit assets	14		55,867		49,351
Other non-current assets	8		919,009		843,991
Total non-current assets			27,889,194		27,628,020
Total assets		~~W~~	43,012,753	~~W~~	41,879,957

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Financial Position

As of September 30, 2025 and December 31, 2024

(In millions of Korean won)	Notes	September 30,2025			December 31,2024
Liabilities
Current liabilities
Trade and other payables	4,11,29	~~W~~	7,770,546		~~W~~	7,394,791
Borrowings	4,12,29		2,454,053			3,904,752
Other financial liabilities	4,6,29		446,765			351,632
Current tax liabilities			244,046			123,145
Other provisions	13,15		112,289			112,530
Deferred income	19		65,297			62,247
Other current liabilities	4,8,16		1,130,652			1,925,637
Total Current Liabilities			12,223,648			13,874,734
Non-current liabilities
Trade and other payables	4,11,29		386,557			578,409
Borrowings	4,12,29		8,078,209			6,615,938
Other financial liabilities	4,6,29		638,605			722,517
Net defined benefit liabilities	14		294,090			128,457
Other provisions	13		106,486			111,877
Deferred income	19		207,099			148,960
Deferred tax liabilities			1,037,318			919,996
Other non-current liabilities	4,8,16		780,805			782,520
Total non-current liabilities			11,529,169			10,008,674
Total liabilities			23,752,817			23,883,408
Equity attribute to owners of the controlling company
Share capital			1,564,499			1,564,499
Share premium			1,440,258			1,440,258
Retained earnings	17		14,986,181			13,779,776
Accumulated other comprehensive income			344,701			63,729
Other components of equity	18		(884,719	)		(637,560	)
			17,450,920			16,210,702
Non-controlling interest			1,809,016			1,785,847
Total equity			19,259,936			17,996,549
Total liabilities and equity		~~W~~	43,012,753		~~W~~	41,879,957

The above interim consolidated statements offinancial position should be read in conjunction with the accompanying notes.

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Profit or Loss

For the three-month and nine-month periods ended September 30, 2025 and 2024

		Three-Month and Nine-Month Periods Ended September 30
(In millions of Korean won, except per share amounts)	Notes	2025					2024
		Three-month			Nine-month		Three-month			Nine-month
Operating revenue	19,27	~~W~~	7,126,734		~~W~~	21,399,188	~~W~~	6,654,615		~~W~~	19,855,588
Operating expenses	20		6,588,553			19,157,418		6,190,505			18,390,992
Operating profit	27		538,181			2,241,770		464,110			1,464,596
Other income	21		86,267			160,913		89,476			269,773
Other expenses	21		26,252			100,163		40,416			158,815
Finance income	22		30,171			506,401		(53,679	)		414,953
Finance costs	22		31,642			532,948		(51,513	)		401,011
Share of net profits (losses) of associates and joint ventures	10		(3,286	)		4,225		(1,937	)		5,268
Profit before income tax			593,439			2,280,198		509,067			1,594,764
Income tax expense	23		148,186			534,864		125,896			408,049
Profit for the period		~~W~~	445,253		~~W~~	1,745,334	~~W~~	383,171		~~W~~	1,186,715
Profit for the period attributable to:
Owners of the Controlling Company		~~W~~	391,542		~~W~~	1,619,322	~~W~~	357,341		~~W~~	1,125,896
Non-controlling interests			53,711			126,012		25,830			60,819
Earnings per share attributable to the equity holders of the Controlling Company during theperiod (in Korean won):
Basic earnings per share	24	~~W~~	1,621		~~W~~	6,643	~~W~~	1,453		~~W~~	4,575
Diluted earnings per share	24		1,620			6,639		1,451			4,572

The above consolidated interim statements of profitor loss should be read in conjunction with the accompanying notes.

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Comprehensive Income

For the three-month and nine-month periods ended September 30, 2025 and 2024

			Three-Month and Nine-Month Periods Ended September 30
(In millions of Korean won)	Notes		2025						2024
			Three-month			Nine-month			Three-month			Nine-month
Profit for the period			~~W~~	445,253		~~W~~	1,745,334		~~W~~	383,171		~~W~~	1,186,715
Other comprehensive income (loss)
Items that will not be reclassified to profit or loss:
Remeasurements of the net defined benefit liabilities		14		788			1,706			187			(461	)
Share of remeasurement of the net defined benefit liabilities of associates and joint<br>ventures				(205	)		51			292			(404	)
Valuation gains (losses) on equity instruments at fair value through other comprehensive<br>income		6		105,936			252,363			(63,914	)		166,887
Items that are or may be subsequently reclassified to profit or loss:
Valuation gains (losses) on cash flow hedges		6		136,928			(33,350	)		(84,705	)		56,731
Other comprehensive income from cash flow hedges reclassified to profit or loss				(119,573	)		67,395			104,363			(48,581	)
Share of other comprehensive income of associates and joint ventures				(1,201	)		4,437			1,340			6,257
Exchange differences on translation of foreign operations				3,514			(33,168	)		(14,994	)		31,412
Other comprehensive income (loss) for the period, net of tax				126,187			259,434			(57,431	)		211,841
Total comprehensive income for the period			~~W~~	571,440		~~W~~	2,004,768		~~W~~	325,740		~~W~~	1,398,556
Total comprehensive income for the period attributable to:
Owners of the Controlling Company			~~W~~	519,615		~~W~~	1,901,911		~~W~~	310,546		~~W~~	1,322,361
Non-controlling interests				51,825			102,857			15,194			76,195

The above consolidated interim statements ofcomprehensive income should be read in conjunction with the accompanying notes.

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Changes in Equity

For the nine-month periods ended September 30, 2025 and 2024

			Attributable to owners of the Controlling Company
(In millions of Korean won)	Notes		Sharecapital		Sharepremium		Retainedearnings			Accumulatedother<br><br><br>comprehensiveincome		Othercomponentsof equity			Total			Non<br><br><br>controllinginterest			Total Equity
Balance as of January 1, 2024			~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	14,494,430		~~W~~	52,407	~~W~~	(802,418	)	~~W~~	16,749,176		~~W~~	1,811,961		~~W~~	18,561,137
Comprehensive income
Profit for the period				—		—		1,125,896			—		—			1,125,896			60,819			1,186,715
Remeasurements of net defined benefit liabilities		14		—		—		798			—		—			798			(1,259	)		(461	)
Share of remeasurement of the net defined benefit liabilities of associates and joint<br>ventures				—		—		(219	)		—		—			(219	)		(185	)		(404	)
Share of other comprehensive income of associates and joint ventures				—		—		—			5,406		—			5,406			851			6,257
Valuation gains (losses) on cash flow hedges		6		—		—		—			8,631		—			8,631			(481	)		8,150
Valuation gains on financial instruments at fair value through other comprehensive income		6		—		—		(11,046	)		177,511		—			166,465			422			166,887
Exchange differences on translation of foreign operations				—		—		—			15,384		—			15,384			16,028			31,412
Total comprehensive income for the period				—		—		1,115,429			206,932		—			1,322,361			76,195			1,398,556
Transactions with owners
Dividends paid by the Controlling Company				—		—		(482,970	)		—		—			(482,970	)		—			(482,970	)
Interim dividends paid by the Controlling Company				—		—		(245,772	)		—		—			(245,772	)		—			(245,772	)
Dividends paid to non-controlling interest of<br>subsidiaries				—		—		—			—		—			—			(20,642	)		(20,642	)
Change in Consolidation Scope				—		—		—			—		—			—			(796	)		(796	)
Change in ownership interests in subsidiaries				—		—		—			—		(15,333	)		(15,333	)		13,032			(2,301	)
Acquisition of treasury stock				—		—		—			—		(27,100	)		(27,100	)		—			(27,100	)
Disposal of treasury stock				—		—		—			—		3,760			3,760			—			3,760
Retirement of treasury stocks				—		—		(205,956	)		—		205,956			—			—			—
Others				—		—		—			—		140			140			2,391			2,531
Subtotal				—		—		(934,698	)		—		167,423			(767,275	)		(6,015	)		(773,290	)
Balance as at September 30, 2024			~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	14,675,161		~~W~~	259,339	~~W~~	(634,995	)	~~W~~	17,304,262		~~W~~	1,882,141		~~W~~	19,186,403

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Changes in Equity

For the nine-month periods ended September 30, 2025 and 2024

			Attributable to owners of the Controlling Company
(In millions of Korean won)	Notes		Sharecapital		Sharepremium		Retainedearnings			Accumulatedother<br><br><br>comprehensiveincome			Othercomponentsof equity			Total			Non<br><br><br>controllinginterest			Total Equity
Balance as of January 1, 2025			~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	13,779,776		~~W~~	63,729		~~W~~	(637,560	)	~~W~~	16,210,702		~~W~~	1,785,847		~~W~~	17,996,549
Comprehensive income
Profit for the period				—		—		1,619,322			—			—			1,619,322			126,012			1,745,334
Remeasurements of net defined benefit liabilities		14		—		—		2,133			—			—			2,133			(427	)		1,706
Share of remeasurement of the net defined benefit liabilities of associates and joint<br>ventures				—		—		53			—			—			53			(2	)		51
Share of other comprehensive income of associates and joint ventures				—		—		—			5,192			—			5,192			(755	)		4,437
Valuation gains (losses) on cash flow hedges		6		—		—		—			33,969			—			33,969			76			34,045
Valuation gains on financial instruments at fair value through other comprehensive income		6		—		—		(569	)		253,748			—			253,179			(816	)		252,363
Exchange differences on translation of foreign operations				—		—		—			(11,937	)		—			(11,937	)		(21,231	)		(33,168	)
Total comprehensive income for the period				—		—		1,620,939			280,972			—			1,901,911			102,857			2,004,768
Transactions with owners
Dividends paid by the Parent Company				—		—		(122,836	)		—			—			(122,836	)		—			(122,836	)
Interim dividends paid by the Parent Company				—		—		(291,641	)		—			—			(291,641	)		—			(291,641	)
Dividends paid to non-controlling interest of<br>subsidiaries				—		—		—			—			—			—			(18,672	)		(18,672	)
Change in Consolidation Scope				—		—		—			—			—			—			(60,177	)		(60,177	)
Change in ownership interests in subsidiaries				—		—		—			—			728			728			(7,011	)		(6,283	)
Appropriation of retained earnings related to loss on disposal of treasury stock				—		—		(57	)		—			57			—			—			—
Acquisition of treasury stock				—		—		—			—			(250,000	)		(250,000	)		—			(250,000	)
Disposal of treasury stock				—		—		—			—			4,075			4,075			—			4,075
Others				—		—		—			—			(2,019	)		(2,019	)		6,172			4,153
Subtotal				—		—		(414,534	)		—			(247,159	)		(661,693	)		(79,688	)		(741,381	)
Balance as of September 30, 2025			~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	14,986,181		~~W~~	344,701		~~W~~	(884,719	)	~~W~~	17,450,920		~~W~~	1,809,016		~~W~~	19,259,936

The above consolidated interim statements of changesin equity should be read in conjunction with the accompanying notes.

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Cash Flows

For the nine-month periods ended September 30, 2025 and 2024

			Nine-Month Periods Ended September 30
(In millions of Korean won)	Notes		2025			2024
Cash flows from operating activities
Cash generated from operations		25	~~W~~	4,230,200		~~W~~	4,666,069
Interest paid				(320,637	)		(318,999	)
Interest received				263,957			288,572
Dividends received				60,077			64,036
Income tax paid				(283,425	)		(299,624	)
Net cash inflow from operating activities				3,950,172			4,400,054
Cash flows from investing activities
Collection of loans				25,643			25,761
Disposals of financial assets at fair value through profit or loss				61,053			102,893
Disposals of financial assets at amortized cost				598,067			1,342,264
Disposals of financial assets at fair value through other comprehensive income				3,343			34,300
Disposals of investments in associates and joint ventures				13,205			17,881
Disposals of property, equipment and investment properties				34,674			36,069
Disposals of intangible assets				5,598			6,306
Disposals of<br>right-of-use assets				688			118
Disposals of derivatives				4,256			—
Increase in cash due to consolidation scope change				176,993			9,847
Loans granted				(44,723	)		(25,122	)
Acquisitions of financial assets at fair value through profit or loss				(55,549	)		(145,665	)
Acquisitions of financial assets at amortized cost				(776,790	)		(656,222	)
Acquisitions of financial assets at fair value through other comprehensive income				(100,000	)		(1,000	)
Acquisitions of investments in associates and joint ventures				(21,242	)		(44,200	)
Acquisitions of property and equipment and investment properties				(2,702,917	)		(2,023,026	)
Acquisitions of intangible assets				(406,557	)		(393,359	)
Acquisitions of<br>right-of-use assets				(175	)		(14,670	)
Decrease in cash due to consolidation scope change				(3	)		(10,310	)
Net cash outflow from investing activities			~~W~~	(3,184,436	)	~~W~~	(1,738,135	)

KT Corporation and Its Subsidiaries

Consolidated Interim Statements of Cash Flows

For thenine-month periods ended September 30, 2025 and 2024

		Nine-Month Periods Ended September 30
(In millions of Korean won)	Notes	2025			2024
Cash flows from financing activities
Proceeds from borrowings		~~W~~	5,159,306		~~W~~	2,920,442
Cash inflow from derivatives contracts			132,775			1,118
Cash inflow from transactions with non-controlling<br>shareholders			1,534			1,128
Cash inflow from other financing activities			28,912			800
Repayments of borrowings			(4,921,132	)		(3,434,719	)
Dividends paid			(433,149	)		(749,384	)
Cash outflow from derivatives contracts			(5,632	)		(855	)
Decrease in finance lease liabilities			(298,468	)		(266,463	)
Acquisition of treasury stock			(250,000	)		(27,100	)
Cash outflow from transactions with non-controlling<br>shareholders			(3,764	)		(31,827	)
Cash outflow from other financing activities			(675	)		(531	)
Net cash outflow from financing activities			(590,293	)		(1,587,391	)
Effect of exchange rate change on cash and cash equivalents			(1,828	)		(189	)
Net increase (decrease) in cash and cash equivalents			173,615			1,074,339
Cash and cash equivalents
Beginning of the period			3,716,680			2,879,554
End of the period		~~W~~	3,890,295		~~W~~	3,953,893

The above consolidated statements of cash flowsshould be read in conjunction with the accompanying notes.

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KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

1.	General Information

The consolidated financial statements have been prepared by KT Corporation, the “Controlling Company” as defined under Korean IFRS 1110 Consolidated Financial Statements, by consolidating 79 subsidiaries (collectively referred to as the “Group”) including BC Card Co., Ltd., etc. as described in Note 1.2

1.1	The Controlling Company

KT Corporation (the “Controlling Company”) commenced operations on January 1, 1982, when it spun off from the Korea Communications Commission (formerly the Korean Ministry of Information and Communications) to provide telecommunication services and to engage in the development of advanced communications services under the Act of Telecommunications of Korea. The address of the Controlling Company’s registered office is 90, Buljeong-ro, Bundang-gu, Seongnam City, Gyeonggi Province, Korea.

On October 1, 1997, upon the announcement of the Act on the Management of the Government-Invested Institutions and the Privatization Law, the Controlling Company became a government-funded institution under the Commercial Code of Korea.

On December 23, 1998, the Controlling Company’s shares were listed on the Korea Exchange.

On May 29, 1999, the Controlling Company issued 24,282,195 additional shares and issued American Depository Shares (ADS), which represent new shares and 20,813,311 government-owned shares, on the New York Stock Exchange. On July 2, 2001, additional ADS representing 55,502,161 government-owned shares were issued on the New York Stock Exchange.

In 2002, the Controlling Company acquired the entire government-owned shares in accordance with the Korean government’s privatization plan. As of September 30, 2025, the Korean government does not own any shares in the Controlling Company.

11 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

1.2	Consolidated Subsidiaries
(1)	The consolidated subsidiaries as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
			Controlling Interest ^1^(%)
---	---	---	---	---	---	---	---	---	---
Subsidiary	Type of business	Location	September 30,2025			December 31,2024			Closingmonth
KT Telecop Co., Ltd.	Security service	Korea		92.7	%		92.7	%	December
KT Alpha Co., Ltd. ^4^	Data communication	Korea		73.0	%		73.0	%	December
KT Service Bukbu Co., Ltd	Opening services of fixed line	Korea		67.3	%		67.3	%	December
KT Service Nambu Co., Ltd. ^4^	Opening services of fixed line	Korea		96.1	%		77.3	%	December
KT Commerce Inc.	B2C, B2B service	Korea		100.0	%		100.0	%	December
KT Strategic Investment Fund No.3	Investment fund	Korea		100.0	%		100.0	%	December
KT Strategic Investment Fund No.4	Investment fund	Korea		100.0	%		100.0	%	December
KT Strategic Investment Fund No.5	Investment fund	Korea		100.0	%		100.0	%	December
BC-VP Strategic Investment Fund No.1	Investment fund	Korea		100.0	%		100.0	%	December
BC Card Co., Ltd.	Credit card business	Korea		69.5	%		69.5	%	December
VP Inc. ^4^	Payment security service for credit card, others	Korea		72.2	%		72.2	%	December
H&C Network	Call center for financial sectors	Korea		100.0	%		100.0	%	December
BC Card China Co., Ltd.	Software development and data processing	China		100.0	%		100.0	%	December
Smartro Co., Ltd.	VAN (Value Added Network) business	Korea		64.5	%		64.5	%	December
KTDS Co., Ltd. ^4^	System integration and maintenance	Korea		91.6	%		91.6	%	December
KT M&S Co., Ltd.	PCS distribution	Korea		100.0	%		100.0	%	December
KT GENIE Music Corporation (formerly. GENIE Music Corporation) ^2^	Online music production and distribution	Korea		36.0	%		36.0	%	December
KT MOS Bukbu Co., Ltd. ^4^	Telecommunication facility maintenance	Korea		100.0	%		100.0	%	December
KT MOS Nambu Co., Ltd. ^4^	Telecommunication facility maintenance	Korea		98.4	%		98.4	%	December
KT Skylife Co., Ltd. ^4^	Satellite TV	Korea		50.5	%		50.5	%	December
KT ENA Co., Ltd. (formerly. Skylife TV Co., Ltd.)	TV contents provider	Korea		100.0	%		100.0	%	December
KT Estate Inc.	Residential building development and supply	Korea		100.0	%		100.0	%	December
KT Investment Management Inc.	Asset management, real estate, and consulting services	Korea		100.0	%		100.0	%	December
KTGDH Co., Ltd.	Data center development and related service	Korea		100.0	%		100.0	%	December
KT Sat Co., Ltd.	Satellite communication business	Korea		100.0	%		100.0	%	December
kt Nasmedia, Co., Ltd. (formerly. Nasmedia, Co., Ltd.) ^2,4^	Solution provider and IPTV advertisement sales business	Korea		44.1	%		44.1	%	December
KT Sports Co., Ltd.	Management of sports teams	Korea		100.0	%		100.0	%	December
KTCS Corporation ^2,4^	Database and online information provider	Korea		34.1	%		34.1	%	December
KTIS Corporation ^2,4^	Database and online information provider	Korea		33.3	%		33.3	%	December
KT M Mobile Co., Ltd.	Special category telecommunications operator and sales of communication device	Korea		100.0	%		100.0	%	December
KT Investment Co., Ltd.	Financing business for new technology	Korea		100.0	%		100.0	%	December
Next Connect PFV	Residential building development and supply	Korea		100.0	%		100.0	%	December
KT Rwanda Networks Ltd.	Network install management	Rwanda		51.0	%		51.0	%	December
AOS Ltd.	System integration and maintenance	Rwanda		51.0	%		51.0	%	December
KT Japan Co., Ltd.	Foreign investment business and local counter work	Japan		100.0	%		100.0	%	December
East Telecom LLC	Wireless/fixed line internet business	Uzbekistan		91.6	%		91.6	%	December
KT America, Inc.	Foreign investment business and local counter work	USA		100.0	%		100.0	%	December
PT. BC Card Asia Pacific	Software development and supply	Indonesia		99.9	%		99.9	%	December
KT Hongkong Telecommunications Co., Ltd.	Fixed line telecommunication business	Hong Kong		100.0	%		100.0	%	December

12 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

			Controlling Interest ^1^(%)
Subsidiary	Type of business	Location	September 30,2025			December 31,2024			Closingmonth
Korea Telecom Singapore Pte. Ltd.	Foreign investment business and local counter work	Singapore		100.0	%		100.0	%	December
Texnoprosistem LLC	Fixed line internet business	Uzbekistan		100.0	%		100.0	%	December
KT Huimangjieum	Manufacturing	Korea		100.0	%		100.0	%	December
K-REALTY RENTAL HOUSING REIT 3	Residential building	Korea		88.6	%		88.6	%	December
Storywiz Co., Ltd.	Contents and software development and supply	Korea		100.0	%		100.0	%	December
KT Engineering Co., Ltd.	Telecommunication facility construction and maintenance	Korea		100.0	%		100.0	%	December
KT Studio Genie Co., Ltd.	Data communication service and data communication construction business	Korea		90.9	%		90.9	%	December
KTHS Corporation (formerly. KHS Corporation)	Operation and maintenance of facilities	Korea		100.0	%		100.0	%	December
kt HCN Co., Ltd. (formerly. HCN Co., Ltd.)	Cable television service	Korea		100.0	%		100.0	%	December
kt Millie Seojae (formerly. Millie Seojae) ^2^	Book contents service	Korea		38.4	%		38.7	%	December
KT ES Pte. Ltd.	Foreign investment business	Singapore		68.8	%		68.8	%	December
Epsilon Global Communications PTE. Ltd.	Network service industry	Singapore		100.0	%		100.0	%	December
Epsilon Telecommunications (SP) PTE. Ltd.	Fixed line telecommunication business	Singapore		100.0	%		100.0	%	December
Epsilon Telecommunications (US) PTE. Ltd.	Fixed line telecommunication business	Singapore		100.0	%		100.0	%	December
Epsilon Telecommunications Limited	Fixed line telecommunication business	UK		100.0	%		100.0	%	December
Epsilon Telecommunications (HK) Limited	Fixed line telecommunication business	Hong Kong		100.0	%		100.0	%	December
Epsilon US Inc.	Fixed line telecommunication business	USA		100.0	%		100.0	%	December
Epsilon Telecommunications (BG) EOOD	Employee support service	Bulgaria		100.0	%		100.0	%	December
Nasmedia-KT Alpha Future Growth Strategic Investment<br>Fund	Investment fund	Korea		100.0	%		100.0	%	December
KT Strategic Investment Fund 6	Investment fund	Korea		100.0	%		100.0	%	December
kt Altimedia Corporation (formerly. Altimedia Corporation )	Software development and delivery	Korea		100.0	%		100.0	%	December
KT Altimidia B.V. (formerly. Altimidia B.V.)	Software development and delivery	Netherlands		100.0	%		100.0	%	December
KT Altimidia Vietnam (formerly. Altimidia Vietnam)	Software development and delivery	Vietnam		100.0	%		100.0	%	December
BCCARD VIETNAM LTD.	Software sales business	Vietnam		100.0	%		100.0	%	December
KTP SERVICES INC.	Fixed line telecommunication business	Philippines		100.0	%		100.0	%	December
KT RUS LLC	Foreign investment business	Russia		100.0	%		100.0	%	December
Hangang Real Estate Investment Trust No. 24	Investment fund	Korea		75.0	%		75.0	%	December
KT DX VIETNAM COMPANY LIMITED	Software development	Vietnam		100.0	%		100.0	%	December
KT Cloud Co., Ltd.	Information and communications development	Korea		92.6	%		92.7	%	December
PT CRANIUM ROYAL ADITAMA	Software development	Indonesia		67.0	%		67.0	%	December

13 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

			Controlling Interest ^1^(%)
Subsidiary	Type of business	Location	September 30,2025			December 31,2024			Closingmonth
Open cloud lab Co., Ltd	IT consulting service and Telecommunication equipment sales	Korea		100.0	%		100.0	%	December
KT Living, Inc.	Residential building management	Korea		100.0	%		100.0	%	December
K-Realty Qualified Private Real Estate Investment Trust<br>No. 1 ^3^	Real estate management	Korea		6.5	%		6.5	%	December
AQUA RETAIL VIETNAM COMPANY LIMITED	E-voucher issuance and trading business	Vietnam		100.0	%		100.0	%	December
K-Realty Qualified Private Real Estate Investment Trust<br>No. 4	Real estate management	Korea		98.3	%		93.9	%	December
BC Strategic Investment Fund 2	Investment fund	Korea		100.0	%		100.0	%	December
K-Logis Hwaseong Inc	Residential building development and supply	Korea		80.0	%		80.0	%	December
kt netcore Co. Ltd.	Telecommunication facility maintenance and service business	Korea		100.0	%		100.0	%	December
kt p&m Co. Ltd.	Information and communications development and Electrical design corporation	Korea		100.0	%		100.0	%	December
Seongsu269 Development PFV Co, Ltd	Investment fund	Korea		90.9	%		—		December
^1^	Sum of the interests owned by the Controlling Company and subsidiaries.
---	---
^2^	Although the Controlling Company owns less than 50% of the interest in kt Nasmedia, Co., Ltd. (formerly.<br>Nasmedia, Co., Ltd.), KTCS Corporation, KTIS Corporation, kt Millie Seojae (formerly. Millie Seojae), and KT GENIE Music Corporation (formerly. GENIE Music Corporation), these entities are consolidated as the Controlling Company can exercise the<br>majority of voting rights in its decision-making process at all times, based on voting patterns at previous shareholders’ meetings.
---	---
^3^	Although the Controlling Company owns less than 50% of the interest in<br>K-Realty Qualified Private Real Estate Investment Trust No. 1, this entity is consolidated by comprehensively considering the criteria for determining control, such as ‘power’, ‘variable<br>profit’, and ‘relationship between power and variable profit’, rather than simply judging by the interests owned by the Controlling Company.
---	---
^4^	The number of treasury stock held by subsidiaries are deducted from the total number of shares when calculating<br>the controlling percentage interest.
---	---
(2)	Changes in Scope of Consolidation
---	---

Subsidiaries newly included and excluded in the consolidation during the nine-month period ended September 30, 2025:

Changes	Location	Name of subsidiary	Reason
Excluded	Korea	KT Linkus Co., Ltd.	Merged
Excluded	Korea	KT Music Contents Fund No.2	Liquidated
Excluded	Korea	Initech Co., Ltd.	Shares disposed
Excluded	Korea	PlayD Co., Ltd.	Shares disposed
Excluded	Thailand	Nasmedia Thailand Co.Ltd.	Shares disposed
Included	Korea	Seongsu269 Development PFV Co, Ltd	Newly established
Included	Korea	Townboard Co., Ltd.	Split-off
Excluded	Korea	Townboard Co., Ltd.	Shares disposed

14 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(3)	Summarized information for consolidated subsidiaries as of September 30, 2025 and December 31, 2024<br>and for the nine-month periods ended September 30, 2025 and 2024, is as follows
(In millions of Korean won)	September 30, 2025				Nine-month period ended<br>September 30, 2025 ^4^
---	---	---	---	---	---	---	---	---	---
	Total assets		Total liabilities		Operatingrevenues		Profit (loss) forthe period
KT Telecop Co., Ltd.	~~W~~	431,190		267,982		438,249		16,311
KT Alpha Co., Ltd.		482,904		183,614		292,912		36,880
KT Service Bukbu Co., Ltd.		52,776		53,560		173,269		(643	)
KT Service Nambu Co., Ltd.		104,180		114,822		284,483		(11,453	)
BC Card Co., Ltd. ^1^		7,569,585		5,649,887		2,700,040		135,522
H&C Network		12,245		4,687		20,778		(186	)
kt Nasmedia, Co., Ltd. (formerly. Nasmedia, Co., Ltd.) ^3^		383,619		185,102		88,607		7,389
KTDS Co., Ltd. ^3^		283,376		124,829		493,095		28,524
KT M&S Co., Ltd.		271,358		187,211		588,561		16,135
KT MOS Bukbu Co., Ltd.		53,792		35,597		74,793		(55	)
KT MOS Nambu Co., Ltd.		53,191		29,001		76,263		1,158
KT Skylife Co., Ltd. ^1^		989,861		406,249		737,039		24,804
KT Estate Inc. ^1^		3,173,183		1,497,535		484,573		12,725
KT GDH Co., Ltd.		7,968		1,222		2,521		210
KT Sat Co., Ltd.		697,979		34,027		146,708		23,283
KT Sports Co., Ltd.		48,979		17,819		82,294		15,299
KT M Mobile Co., Ltd.		222,441		91,498		292,041		10,361
KT Investment Co., Ltd. ^1^		73,070		41,921		4,352		3,502
KTCS Corporation ^1^		463,587		242,540		752,189		22,619
KTIS Corporation		462,985		222,336		465,234		34,114
Next Connect PFV		997,016		310,218		1,146,472		391,428
KT Japan Co., Ltd. ^1^		2,326		3,769		2,519		105
KT America, Inc.		6,701		461		5,770		357
KT Rwanda Networks Ltd. ^2^		114,088		146,302		15,272		(15,585	)
AOS Ltd. ^2^		15,683		18,637		8,798		1,769
KT Hong Kong Telecommunications Co., Ltd.		9,536		2,091		8,985		333
KT Huimangjieum ^1^		12,601		4,664		14,076		1,370
KT Engineering Co., Ltd.		112,157		56,708		171,858		(4,490	)
KT Studio Genie Co., Ltd. ^1^		887,898		203,749		351,856		12,951

15 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	September 30, 2025				Nine-month period ended<br>September 30, 2025 ^4^
	Total assets		Total liabilities		Operatingrevenues		Profit (loss) forthe period
East Telecom LLC ^1^		86,185		39,390		30,923		8,528
KT ES Pte. Ltd. ^1^		72,189		62,240		72,986		(4,124	)
KTP SERVICES INC.		2,216		18		65		(146	)
kt Altimedia Corporation (formerly. Altimedia Corporation)^1^		40,851		8,863		25,318		262
KT RUS LLC		382		—		—		(149	)
KT DX VIETNAM COMPANY LIMITED		1,323		140		611		(155	)
KT Cloud Co., Ltd. ^1^		2,215,223		646,016		719,606		47,731
K-Realty Qualified Private Real Estate Investment Trust<br>No. 1		77,665		50,190		3,445		(964	)
AQUA RETAIL VIETNAM COMPANY LIMITED		744		34		526		(600	)
kt netcore. Co. Ltd.		139,513		105,977		439,748		(27,600	)
kt p&m Co. Ltd.		27,478		17,944		48,228		(394	)

16 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024				Nine-month period ended<br>September 30, 2024^4^
	Total assets		Total liabilities		Operatingrevenues		Profit (loss) forthe period
KT Linkus Co., Ltd.	~~W~~	54,247		55,750		59,353		(1,088	)
KT Telecop Co., Ltd.		400,437		253,509		394,574		8,925
KT Alpha Co., Ltd.		464,180		201,902		313,705		17,013
KT Service Bukbu Co., Ltd.		56,706		56,846		167,224		(7,485	)
KT Service Nambu Co., Ltd.		57,827		51,826		211,795		(7,402	)
BC Card Co., Ltd. ^1^		5,961,047		4,196,724		2,844,618		129,288
H&C Network		59,808		5,039		19,822		1,446
kt Nasmedia, Co., Ltd. (formerly. Nasmedia, Co., Ltd.) ^1^		492,782		252,707		103,451		16,482
KTDS Co., Ltd. ^1^		388,812		179,630		508,481		31,643
KT M&S Co., Ltd.		261,539		193,526		617,918		11,597
KT MOS Bukbu Co., Ltd.		50,262		32,012		74,685		1,653
KT MOS Nambu Co., Ltd.		51,458		28,427		75,525		2,676
KT Skylife Co., Ltd. ^1^		1,040,188		463,594		765,940		1,484
KT Estate Inc. ^1^		2,617,662		947,834		438,999		15,138
KT GDH Co., Ltd.		7,998		1,462		3,087		253
KT Sat Co., Ltd.		733,574		92,877		135,511		23,474
KT Sports Co., Ltd.		23,299		7,435		69,323		9,840
KT Music Contents Fund No.2		5,508		1,589		89		44
KT M Mobile Co., Ltd.		195,196		74,570		255,684		7,418
KT Investment Co., Ltd. ^1^		84,369		56,721		6,816		1,554
KTCS Corporation ^1^		435,066		232,129		842,040		3,178
KTIS Corporation		469,932		261,826		453,036		9,822
Next Connect PFV		1,429,260		1,133,891		—		(6,460	)
KT Japan Co., Ltd. ^1^		1,750		3,289		2,310		254
KT America, Inc.		6,843		614		5,657		199
KT Rwanda Networks Ltd. ^2^		131,362		341,313		16,435		(12,427	)
AOS Ltd. ^2^		14,305		19,422		7,907		1,666
KT Hong Kong Telecommunications Co., Ltd.		9,105		1,680		14,241		591
KT Huimangjieum ^1^		8,854		2,275		13,073		1,538
KT Engineering Co., Ltd.		183,753		123,132		184,986		(2,686	)
KT Studio Genie Co., Ltd. ^1^		880,509		212,683		326,651		13
East Telecom LLC ^1^		75,828		40,371		26,097		4,804

17 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024				Nine-month period ended<br>September 30, 2024^4^
	Total assets		Total liabilities		Operatingrevenues		Profit (loss) forthe period
KT ES Pte. Ltd. ^1^		78,800		59,114		69,998		(9,422	)
KTP SERVICES INC.		3,257		750		497		118
kt Altimedia Corporation (formerly. Altimedia Corporation) ^1^		45,287		11,919		25,592		(897	)
KT RUS LLC		420		—		—		(91	)
KT DX VIETNAM COMPANY LIMITED		1,568		120		284		(236	)
KT Cloud Co., Ltd. ^1^		2,061,020		542,569		562,204		36,344
K-Realty Qualified Private Real Estate Investment Trust<br>No. 1		79,220		50,681		3,182		(975	)
AQUA RETAIL VIETNAM COMPANY LIMITED		1,903		497		351		(620	)
kt netcore Co. Ltd.		61,213		79		—		—
kt p&m Co. Ltd		10,029		96		—		—
^1^	As intermediate controlling companies, financial information from their consolidated financial statements is<br>presented.
---	---
^2^	Convertible preferred stock issued by subsidiaries as of the end of the reporting period is included in<br>liabilities.
---	---
^3^	Profit or loss of subsidiary that was disposed of during the current period, from the beginning of the<br>reporting period to the date of loss of control, is reflected.
---	---
^4^	Profit or loss of companies newly included in consolidated financial statements from the acquisition date of<br>control to the end of the reporting period is included.
---	---

18 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

2.	Material Accounting Policies
2.1	Basis of Preparation
---	---

The Group maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (K-IFRS). The accompanying consolidated financial statements have been condensed, restructured, and translated into English from the Korean language financial statements.

The consolidated interim financial statements of the Group for the nine-month period ended September 30, 2025, have been prepared in accordance with Korean IFRS 1034 Interim Financial Reporting. In order to understand the consolidated interim financial statements, the annual consolidated financial statements as of December 31, 2024 prepared in accordance with IFRS should be used together.

2.2	Changes in Accounting Policy and Disclosures
(1)	New and amended standards and interpretations adopted by the Group
---	---

The Group has applied the following standards and interpretations for the first time for their annual reporting period commencing January 1, 2025.

•	K-IFRS 1021 The Effects of Changes in Foreign Exchange Rates and K-IFRS 1101 First-time adoption of Korean International Financial Reporting Standards (Amendment) - Lack of Exchangeability

The amendments specify how to assess whether a currency is exchangeable, and how to determine the exchange rate when it is not.

The amendments state that a currency is exchangeable into another currency when an entity is able to obtain the other currency within a time frame that allows for a normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations.

When a currency is not exchangeable into another currency, the spot exchange rate is estimated as of the measurement date, either by using an observable exchange rate without adjustment or by applying an alternative estimation technique.

19 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(2)	New and revised standards and interpretations in issue but not yet effective or adopted by the Group<br>

At the date of authorization of these financial statements, the Group has not applied the following new and amended K-IFRS standards that have been issued but are not yet effective:

•	K-IFRS 1109 Financial Instruments and K-IFRS 1107 Financial Instruments: Disclosures - Classification and measurement requirements of financial instruments

The amendments clarify the conditions related to the discharge of a financial liability before the settlement date when settling such financial liabilities using an electronic payment system. They further specify an interest feature, a contingent feature, financial assets with non-recourse features and contractually linked instruments which should be considered in assessing whether contractual cash flows of a financial asset are consistent with a basic lending arrangement. Furthermore, the amendments include additional disclosure requirements for investments in equity instruments designated at fair value through other comprehensive income and contractual terms that could change the timing or amount of contractual cash flows. The amendments are applied retrospectively for annual reporting periods beginning on or after January 1, 2026 with earlier application permitted.

•	K-IFRS 1109 Financial Instruments - Derecognition of lease<br>liabilities and Transaction price

The amendments clarify that when a lessee has determined that a lease liability has been extinguished in accordance with K-IFRS 1109, the lessee is required to recognize any resulting gain or loss in profit or loss. Additionally, the amendments have replaced ‘their transaction price (as defined in K-IFRS 1115)’ in K-IFRS 1109:5.1.3 with ‘the amount determined by applying K-IFRS 1115’ to remove an inconsistency between K-IFRS 1109 and the requirements in K-IFRS 1115.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

•	K-IFRS 1110 Consolidated Financial Statements - Determination of<br>‘de facto agent’

The amendments have amended K-IFRS 1110:B74 to use less conclusive language and to clarify that the relationship described in K-IFRS1110:B74 is just one example of a circumstance in which judgement is required to determine whether a party is acting as a de facto agent.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

20 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

•	K-IFRS 1101 First-time adoption of Korean International FinancialReporting Standards - Hedging accounting by a first-time adopter

The amendments have improved the consistency of the wording of K-IFRS 1101:B6 with the requirements for hedge accounting in K-IFRS 1109 and added cross-references to K-IFRS 1109:6.4.1 to improve the understandability of K-IFRS 1101.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

•	K-IFRS 1107 Financial Instruments: Disclosures - Gain or loss on<br>derecognition

The amendments have updated the obsolete cross-reference in K-IFRS 1107:B38 and aligned the wording of this paragraph with the terms used in K-IFRS.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

•	K-IFRS 1007 Statement of Cash Flows: Cost method<br>

The amendments have replaced the term ‘cost method’ with ‘at cost’ in K-IFRS 1007:37.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

The Group is reviewing the impact of the above-listed amendments on the financial statements.

21 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

2.3	Accounting Policies

The material accounting policies and methods of computation used in the preparation of the consolidated interim financial statements are consistent with those of the consolidated financial statements for the year ended December 31, 2024, except for the changes resulting from the application of amendments and enactments of standards described in Note 2.2 (1) and as detailed below.

2.3.1	Income Tax Expense

Income tax expense for the interim period is recognized based on management’s best estimate of the weighted average annual income tax rate expected for the full financial year. The estimated average annual effective income tax rate is applied to the pre-tax income of the interim period.

3.	Critical Accounting Estimates and Assumptions

The preparation of financial statements requires the Group to make estimates and assumptions about the future. Management also needs to exercise judgement in applying the Group’s accounting policies. Estimates and assumptions are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events under the given circumstances. As the resulting accounting estimates will, by definition, rarely equal the actual results, they involve a significant risk of resulting in material adjustments.

22 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

4.	Financial Instruments by Category

Financial instruments by category as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
Financial assets	Financial assetsat amortizedcost		Financialassets atFVTPL		Financialassets atFVOCI		Derivatives<br><br><br>used forhedging		Total
Cash and cash equivalents	~~W~~	3,890,295		—		—		—		3,890,295
Trade and other receivables		8,254,975		—		211,963		—		8,466,938
Other financial assets		1,022,231		1,176,185		2,107,610		222,715		4,528,741
(In millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---	---
Financial liabilities	Financialliabilities atamortized cost		Financialliabilities atFVTPL		Derivativesused forhedging		Others		Total
Trade and other payables ^1^	~~W~~	7,587,448		—		—		—		7,587,448
Borrowings		10,532,262		—		—		—		10,532,262
Other financial liabilities		972,598		106,146		6,626		—		1,085,370
Lease liabilities		—		—		—		1,055,587		1,055,587
^1^ Amounts related to employee benefit plans are excluded in Trade and other<br>payables.
(In millions of Korean won)	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
Financial assets	Financial assetsat amortizedcost		Financialassets atFVTPL		Financialassets atFVOCI		Derivatives<br><br><br>used forhedging		Total
Cash and cash equivalents	~~W~~	3,716,680		—		—		—		3,716,680
Trade and other receivables		7,573,409		—		114,774		—		7,688,183
Other financial assets		962,653		1,029,926		1,665,368		445,471		4,103,418
(In millions of Korean won)	December 31, 2024
Financial liabilities	Financialliabilities atamortized cost		Financialliabilities atFVTPL		Derivativesused forhedging		Others		Total
Trade and other payables ^1^	~~W~~	7,214,174		—		—		—		7,214,174
Borrowings		10,520,690		—		—		—		10,520,690
Other financial liabilities		942,135		132,011		3		—		1,074,149
Lease liabilities		—		—		—		1,059,453		1,059,453
^1^	Amounts related to employee benefit plans are excluded in Trade and other payables.
---	---

23 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

5.	Trade and Other Receivables
(1)	Trade and other receivables as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Total amounts		Provision forimpairment			Present valuediscount			Carryingamount
Current assets
Trade receivables	~~W~~	3,626,919		(388,827	)		(7,833	)		3,230,259
Other receivables		3,448,267		(99,261	)		(2,088	)		3,346,918
Total	~~W~~	7,075,186		(488,088	)		(9,921	)		6,577,177
Non-current assets
Trade receivables	~~W~~	291,867		(1,298	)		(14,229	)		276,340
Other receivables		1,714,131		(90,570	)		(10,140	)		1,613,421
Total	~~W~~	2,005,998		(91,868	)		(24,369	)		1,889,761
(In millions of Korean won)	December 31, 2024
	Total amounts		Provision forimpairment			Present valuediscount			Carryingamount
Current assets
Trade receivables	~~W~~	3,309,177		(378,327	)		(9,011	)		2,921,839
Other receivables		3,335,066		(107,653	)		(1,796	)		3,225,617
Total	~~W~~	6,644,243		(485,980	)		(10,807	)		6,147,456
Non-current assets
Trade receivables	~~W~~	260,154		(1,299	)		(14,977	)		243,878
Other receivables		1,405,923		(96,941	)		(12,133	)		1,296,849
Total	~~W~~	1,666,077		(98,240	)		(27,110	)		1,540,727

24 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(2)	Details of other receivables as of September 30, 2025 and December 31, 2024, are as follows:<br>
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Loans	~~W~~	61,559			42,413
Receivables ^1^		2,857,385			2,913,728
Accrued income		59,837			40,950
Refundable deposits		239,580			264,054
Loans receivable		1,652,765			1,209,887
Finance lease receivables		212,155			202,372
Others		66,889			53,656
Less: Provision for impairment		(189,831	)		(204,594	)
Total	~~W~~	4,960,339			4,522,466
^1^	As of September 30, 2025, credit sales asset of ~~W~~ 2,018,307 million (December 31,<br>2024: ~~W~~ 1,970,895 million) held by BC Card Co., Ltd. are included.
---	---
(3)	The maximum exposure to credit risks for trade and other receivables is the carrying amount of each class of<br>receivables mentioned above as of September 30, 2025.
---	---
(4)	The Group classifies a certain portion of trade receivables as financial assets at fair value through other<br>comprehensive income, based on business model for managing the asset and the cash flow characteristics of the contract.
---	---

25 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

6.	Other Financial Assets and Liabilities
(1)	Details of other financial assets and liabilities as of September 30, 2025 and December 31, 2024, are<br>as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Other financial assets
Financial assets at amortized cost ^1^	~~W~~	1,022,231			962,653
Financial assets at fair value through profits or loss ^1,2^		1,176,185			1,029,926
Financial assets at fair value through other comprehensive income		2,107,610			1,665,368
Derivatives used for hedging		222,715			445,471
Less: Non-current		(3,028,400	)		(2,759,170	)
Current	~~W~~	1,500,341			1,344,248
Other financial liabilities
Financial liabilities at amortized cost ^3,4^	~~W~~	972,598			942,135
Financial liabilities at fair value through profits or loss		106,146			132,011
Derivatives used for hedging		6,626			3
Less: Non-current		(638,605	)		(722,517	)
Current	~~W~~	446,765			351,632
^1^	As of September 30, 2025, the Group’s financial instruments amount to ~~W~~<br>105,844 million (December 31, 2024: ~~W~~ 97,913 million) and consist of checking account deposits, time deposits, and others which are subject to withdrawal restrictions.
---	---
^2^	As of September 30, 2025, the Group provided investments in Korea Software Financial Cooperative and<br>others amounting to ~~W~~ 10,539 million (December 31, 2024: ~~W~~ 10,511 million) as a collateral in exchange for the payment guarantee provided by the Korea Software Financial Cooperative and others.<br>
---	---
^3^	The amount includes liabilities related to the obligation to acquire additional shares in Epsilon Global<br>Communications Pte. Ltd. and KT Cloud Co., Ltd. (Note 15).
---	---
^4^	The amount includes liabilities convertible preferred Stock issued by KT Cloud Co., Ltd. (Note 15).<br>
---	---

26 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(2)	Financial Assets at fair value through profit or loss
1)	Details of financial assets at fair value through profit or loss as of September 30, 2025 and<br>December 31, 2024, are as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Equity instruments (Listed)	~~W~~	3,085			5,620
Equity instruments (Unlisted)		45,934			47,227
Debt instruments		1,127,166			971,805
Derivatives held for trading		—			5,274
Total		1,176,185			1,029,926
Less: Non-current		(782,724	)		(826,708	)
Current	~~W~~	393,461			203,218
2)	The maximum exposure to credit risks for debt instruments of financial assets at fair value through profit or<br>loss is the carrying amount of each class of debt instruments above as of September 30, 2025.
---	---
(3)	Financial Assets at fair value through other comprehensive income
---	---
1)	Details of financial assets at fair value through other comprehensive income as of September 30, 2025 and<br>December 31, 2024, are as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Equity instruments (Listed)	~~W~~	1,662,164			1,317,458
Equity instruments (Unlisted)		439,161			341,753
Debt instruments		6,285			6,157
Total		2,107,610			1,665,368
Less: Non-current		(2,107,610	)		(1,665,368	)
Current	~~W~~	—			—
2)	Upon disposal of these equity investments, any balance within the accumulated other comprehensive income is<br>reclassified not to profit or loss, but to retained earnings. Upon disposal of these debt investments, the remaining balance of the accumulated other comprehensive income is reclassified to profit or loss.
---	---

27 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(4)	Derivatives used for Hedging
1)	Details of valuation of derivatives used for hedging as of September 30, 2025 and December 31, 2024,<br>are as follows:
---	---
(In millions of Korean won)	September 30, 2025						December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---
	Assets			Liabilities			Assets			Liabilities
Interest rate swap	~~W~~	600			—			352			3
Currency swap ^1^		222,115			6,626			445,119			—
Total		222,715			6,626			445,471			3
Less: Non-current		(124,262	)		(6,626	)		(261,719	)		—
Current	~~W~~	98,453			—			183,752			3
^1^	The currency swap contract is to hedge the risk of variability in cash flow from the borrowings due to changes<br>in interest rate and foreign exchange rate and the expected maximum period for the Group to be exposed to risks of cash flow fluctuation by hedged items is until September 7, 2034.
---	---

The entire fair value of a hedging derivative is classified as a non-current asset or liability if the remaining maturity of the hedged item is more than 12 months and, as a current asset or liability, if the maturity of the hedged item is within 12 months.

2)	Details of valuation gains and losses on the derivative instruments for the nine-month periods ended<br>September 30, 2025 and 2024, are as follows:
(In millions of Korean won)
---	---	---	---	---	---	---	---	---	---	---	---	---	---
	2025						2024
Type of transaction	Valuationgain		Valuationloss		Othercomprehensiveloss^1^		Valuationgain		Valuationloss		Othercomprehensiveloss^1^
Interest rate swap	~~W~~	9		98		281		62		—		(785	)
Currency swap		12,428		93,442		45,238		65,857		2,677		11,731
Total	~~W~~	12,437		93,540		45,519		65,919		2,677		10,946
^1^	The amounts are before adjustments for deferred income tax and allocations to<br>non-controlling interests and have been directly reflected in equity.
---	---
3)	The effective portion recognized in profit or loss related to cash flow hedges amounts to valuation losses of<br>~~W~~ 44,851 million as other comprehensive income for the year ended September 30, 2025 (for the nine-month period ended September 30, 2024: valuation gains of ~~W~~ 75,859 million). The ineffective portion<br>recognized in profit or loss related to cash flow hedges amounts to valuation gains of ~~W~~ 634 million as current profit or loss for the year ended September 30, 2025 (for the nine-month period ended September 30, 2024:<br>~~W~~ 1,608 million). In addition, the valuation loss reclassified from other comprehensive income to profit or loss amounts to ~~W~~ 90,370 million for the year ended September 30, 2025 (for the nine-month period<br>ended September 30, 2024: valuation gains of ~~W~~ 64,913 million).
---	---

28 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(5)	Financial Liabilities at fair value through profit or loss
1)	Details of financial liabilities at fair value through profit or loss as of September 30, 2025 and<br>December 31, 2024, are as follows:
---	---
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Derivatives held for trading ^1^	~~W~~	106,146		132,011
^1^	The Group signed a<br>shareholder-to-share agreement with financial investors participating in the paid-in capital increase of K Bank Inc. for the<br>nine-month period ended September 30, 2025. According to the Drag-Along Right, if K Back inc. fails to be listed on the terms agreed upon for the date of completion of the acquisition, financial investors may exercise the Drag-Along right to<br>the Group, and the Group may comply or exercise the right to claim for sale. If financial investors exercise the Drag-Along Right, the Group must exercise the right to claim for sale or guarantee the return on the terms agreed upon by financial<br>investors. (Note 15).
---	---
2)	The valuation gain and loss on financial liabilities at fair value through profit or loss for the nine-month<br>periods ended September 30, 2025 and 2024, are as follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Valuationgain		Valuationloss		Valuationgain		Valuationloss
Derivatives liabilities held for trading	~~W~~	27,164		1,679		11,098		—
7.	Inventories
---	---

Inventories as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)
	September 30, 2025							December 31, 2024
	Acquisitioncost		Valuationallowance			Carryingamount		Acquisitioncost		Valuationallowance			Carryingamount
Merchandise	~~W~~	474,540		(38,098	)		436,442		1,003,127		(99,517	)		903,610
Others		7,402		—			7,402		37,123		(524	)		36,599
Total	~~W~~	481,942		(38,098	)		443,844		1,040,250		(100,041	)		940,209

Cost of inventories recognized as expenses for the nine-month period ended September 30, 2025 amounts to ~~W~~ 3,272,984 million (for the nine-month periods ended September 30, 2024: ~~W~~ 2,628,976 million) and reversal valuation loss on inventory amounts to ~~W~~ 61,943 million for the nine-month period ended September 30, 2025 (for the nine-month periods ended September 30, 2024: ~~W~~ 22,041 million).

29 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

8.	Other Assets and Liabilities

Other assets and liabilities as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
Other assets
Advance payments	~~W~~	202,164		217,679
Prepaid expenses		332,397		170,544
Contract cost		2,079,928		1,738,164
Contract assets		978,366		800,806
Others		34,600		18,929
Less: Non-current		(919,009	)	(843,991	)
Current	~~W~~	2,708,446		2,102,131
Other liabilities
Advances received ^1^	~~W~~	345,608		1,151,499
Withholdings		160,467		154,355
Unearned revenue ^1^		54,534		38,327
Lease liabilities		1,055,587		1,059,453
Contract liabilities		261,477		273,320
Others		33,784		31,203
Less: Non-current		(780,805	)	(782,520	)
Current	~~W~~	1,130,652		1,925,637
^1^	The amounts include adjustments arising from adoption of Korean IFRS 1115 Revenue from Contracts withCustomers (Note 19).
---	---

30 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

9.	Property and Equipment, Investment Properties, and Intangible Assets
(1)	Changes in property and equipment for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning, net	~~W~~	14,825,814			14,872,079
Acquisition and capital expenditure		1,611,453			1,862,339
Disposal and termination		(58,026	)		(51,418	)
Depreciation		(2,129,900	)		(2,107,814	)
Transfer from investment properties		122,457			1,052
Changes in consolidation scope		(3,644	)		(1,326	)
Others ^1^		(247,014	)		(65,762	)
Ending, net	~~W~~	14,121,140			14,509,150
^1^	Amounts include transfers to intangible assets.
---	---
(2)	Changes in investment properties for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning, net	~~W~~	2,299,616			2,198,135
Acquisition and capital expenditure		690,236			112,709
Disposal		—			(1,772	)
Depreciation		(51,029	)		(39,286	)
Transfer to property and equipment		(122,457	)		(1,052	)
Changes in consolidation scope		(3,401	)		—
Others		1,175			(1,208	)
Ending, net	~~W~~	2,814,140			2,267,526
(3)	As of September 30, 2025, the Group (Lessor) has entered into a<br>non-cancellable operating lease contract for real estate. The future minimum lease payments under this contract amount to ~~W~~ 113,874 million for one year or less, ~~W~~<br>122,475 million for more than one year and less than five years, ~~W~~ 12,235 million for over five years, and ~~W~~ 248,584 million in total.
---	---

31 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(4)	Changes in intangible assets for the nine-month periods ended September 30, 2025 and 2024, are as follows:<br>
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning, net	~~W~~	1,862,740			2,533,861
Acquisition and capital expenditure ^1^		310,713			147,984
Disposal and termination		(11,505	)		(14,266	)
Amortization		(457,048	)		(494,165	)
Impairment		(802	)		(857	)
Changes in consolidation scope		(34,653	)		(9,370	)
Others		(3,914	)		21,748
Ending, net	~~W~~	1,665,531			2,184,935
^1^	Amounts include transfers from property and equipment.
---	---
(5)	The carrying amount of intangible assets with indefinite useful lives, including membership rights (except for<br>goodwill), that are not subject to amortization, is ~~W~~ 200,822 million as of September 30, 2025 (December 31, 2024: ~~W~~ 203,227 million).
---	---
(6)	Goodwill is allocated to the Group’s cash-generating units, which are identified by operating segments.<br>As of September 30, 2025, the goodwill allocated to each cash-generation unit is as follows:
---	---
(In millions of Korean won)
---	---	---
Cash-Generating Unit	Amount
Mobile services	~~W~~	65,057
BC Card Co., Ltd.		41,234
KT GENIE Music Corporation(formerly. GENIE Music Corporation)		38,258
kt Millie Seojae(formerly. Millie Seojae)		54,725
KT Telecop Co., Ltd.		15,418
KT MOS Bukbu Co., Ltd. and others		32,604
Total	~~W~~	247,296

The recoverable amount of goodwill has been determined based on the fair value obtained by calculating the value in use or deducting the cost of disposal. The value in use was calculated using pre-tax cash flow estimates based on financial budgets, such as the budget for the next five years. Cash flows after the estimated period were estimated using the expected growth rate, and the growth rate does not exceed the long-term average growth rate of the industry to which the cash-generating unit belongs. The Group has determined revenue growth rate based on past performance and expectations of future market changes. The Group has determined pre-tax cash flow estimates based on past earnings and market growth forecasts, and the discount rate used reflects the specific risks associated with related operations.

32 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

10.	Investments in Associates and Joint Ventures
(1)	Details of associates as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
	Percentage of ownership (%)						Location		Closing month
---	---	---	---	---	---	---	---	---	---	---
	September 30,<br><br><br>2025			December 31,<br><br><br>2024
KIF Investment Fund		33.3	%		33.3	%		Korea		December
K Bank Inc.		33.7	%		33.7	%		Korea		December
HD Hyundai Robotics Co., Ltd. ^1^		10.0	%		10.0	%		Korea		December
Megazone Cloud Corporation ^1^		6.8	%		6.8	%		Korea		December
IGIS No. 468-1 General Private Real Estate Investment Company		44.6	%		44.6	%		Korea		December
KT-DSC Creative Economy Youth Start-up Investment Fund		28.6	%		28.6	%		Korea		December
IGIS Professional Investors Private Investment Real Estate Investment LLC No. 395		35.3	%		35.3	%		Korea		December
^1^	Although the Group holds less than 20% interest in ordinary shares as of September 30, 2025, these<br>entities are included in investments in associates as the Group exerts significant influence over operational and financial policies.
---	---
(2)	Changes in investments in associates and joint ventures for the nine-month period ended September 30, 2025<br>and 2024, are as follows:
---	---
	2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---
(In millions of Korean won)	Beginning		Acquisition<br><br><br>(Disposal)			Share of net profit(loss) fromassociates and jointventures ^1^			Others			Ending
KIF Investment Fund	~~W~~	191,125		—			849			(1,366	)		190,608
K Bank Inc.		917,641		—			30,558			(2,154	)		946,045
HD Hyundai Robotics Co., Ltd.		45,830		—			(1,098	)		1,057			45,789
Megazone Cloud Corporation		130,773		—			(1,062	)		2,883			132,594
IGIS No. 468-1 General Private Real Estate Investment Company		23,374		—			(84	)		—			23,290
KT-DSC Creative Economy Youth Start-up Investment Fund		15,951		(650	)		1,438			(700	)		16,039
IGIS Professional Investors Private Investment Real Estate Investment LLC No 395		9,727		—			(2,749	)		—			6,978
Others ^1^		227,811		15,578			(15,957	)		(91	)		227,341
Total	~~W~~	1,562,232		14,928			11,895			(371	)		1,588,684

33 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

	2024
(In millions of Korean won)	Beginning		Acquisition<br><br><br>(Disposal)			Share of net profit(loss) fromassociates and jointventures ^1^			Others			Ending
KIF Investment Fund	~~W~~	177,054		—			617			983			178,654
K Bank Inc.		872,881		—			40,088			3,456			916,425
HD Hyundai Robotics Co., Ltd.		47,734		—			574			(685	)		47,623
Megazone Cloud Corporation		131,694		—			(2,236	)		1,365			130,823
IGIS No. 468-1 General Private Real Estate Investment<br>Company		23,484		—			(56	)		—			23,428
KT-DSC Creative Economy Youth Start-up Investment Fund		25,117		(275	)		(6,726	)		(845	)		17,271
IGIS Professional Investors Private Investment Real Estate Investment LLC No 395		11,942		—			(1,734	)		—			10,208
LS Marine Solution Co., Ltd.		23,492		(19,656	)		237			(4,073	)		—
Others ^1^		243,491		40,441			(28,375	)		(964	)		254,593
Total	~~W~~	1,556,889		20,510			2,389			(763	)		1,579,025
^1^	KT Investment Co., Ltd., a subsidiary of the Group, recognized net profit (loss) in the investments in<br>associates as operating income. Net loss recognized as operating income for the nine-months period ended September 30, 2025 amount to ~~W~~ 271 million (nine-month period ended September 30, 2024: net loss of<br>~~W~~ 216 million).
---	---

34 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(3)	Summarized statements of financial position of the major associates and joint ventures as of September 30,<br>2025 and December 31, 2024 and summarized statements of profit or loss for the nine-month period ended September 30, 2025 and 2024, are as follows:
(In millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---
	Assets		Liabilities		Operatingrevenue		Profit (loss)for the period
KIF Investment Fund	~~W~~	571,822		—		10,698		2,547
K Bank Inc.		33,269,134		31,076,918		999,897		103,379
HD Hyundai Robotics Co., Ltd.		354,517		103,791		182,327		(11,007	)
Megazone Cloud Corporation		1,672,398		1,048,663		1,217,766		(3,423	)
IGIS No. 468-1 General Private Real Estate Investment<br>Company		52,176		6		—		(189	)
KT-DSC Creative Economy Youth Start-up Investment Fund		56,549		414		6,719		3,368
IGIS Professional Investors Private Investment Real Estate Investment LLC No 395		201,542		178,400		—		(1,744	)
(In millions of Korean won)	December 31, 2024				September 30, 2024
---	---	---	---	---	---	---	---	---	---
	Assets		Liabilities		Operatingrevenue		Profit (loss)for the period
KIF Investment Fund	~~W~~	573,376		—		12,407		1,850
K Bank Inc		31,191,682		29,187,152		875,824		122,419
HD Hyundai Robotics Co., Ltd.		356,541		105,722		166,702		3,872
Megazone Cloud Corporation		1,456,061		860,488		1,226,033		(12,575	)
IGIS No. 468-1 General Private Real Estate Investment<br>Company		52,370		11		4		(126	)
KT-DSC Creative Economy Youth Start-up Investment Fund		56,231		404		3,994		(21,230	)
IGIS Professional Investors Private Investment Real Estate Investment LLC No 395		175,328		133,665		—		(333	)
(4)	Due to discontinuance of equity method of accounting, the Group has not recognized loss from associates and<br>joint ventures of ~~W~~ 5,447 million for the nine-month period September 30, 2025 (nine-month period ended September 30, 2024: ~~W~~ 1,053 million). The unrecognized accumulated comprehensive loss of<br>associates and joint ventures as of September 30, 2025 is ~~W~~ 12,712 million (December 31, 2024: ~~W~~ 7,942 million).
---	---

35 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

11.	Trade and Other Payables
(1)	Details of trade and other payables as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Current liabilities
Trade payables	~~W~~	1,145,345		1,036,707
Other payables		6,625,201		6,358,084
Total	~~W~~	7,770,546		7,394,791
Non-current liabilities
Trade payables		665		1,035
Other payables	~~W~~	385,892		577,374
Total	~~W~~	386,557		578,409
(2)	Details of other payables as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Non-trade payables ^1^	~~W~~	3,698,078			4,578,424
Accrued expenses		1,604,075			1,293,627
Operating deposits		1,451,705			833,482
Others		257,235			229,925
Less: non-current		(385,892	)		(577,374	)
Current	~~W~~	6,625,201			6,358,084
^1^	As of September 30, 2025, credit sale liabilities amounting to ~~W~~ 1,773,257 million<br>(December 31, 2024: ~~W~~ 1,612,495 million) held by BC Card Co., Ltd. (a subsidiary of the Group) are included.
---	---

36 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

12.	Borrowings
(1)	Details of borrowings as of September 30, 2025 and December 31, 2024, are as follows:
---	---
1)	Debentures
---	---
(In millions of Korean won and foreign currencies in thousands)			September 30, 2025			December 31, 2024
---	---	---	---	---	---	---	---	---
Type	Maturity	Annual interest<br><br><br>rates	Foreigncurrency			Foreigncurrency
MTNP notes ^1^	Sep. 07, 2034	6.500%		100,000	140,220		100,000	147,000
MTNP notes	Jul. 18, 2026	2.500%		400,000	560,880		400,000	588,000
MTNP notes	Sep. 01, 2025	—		—	—		400,000	588,000
MTNP notes	Jan. 21, 2027	1.375%		300,000	420,660		300,000	441,000
MTNP notes	Aug. 08, 2025	—		—	—		500,000	735,000
MTNP notes	Feb. 02, 2028	4.125%		500,000	701,100		500,000	735,000
MTNP notes	Mar. 05, 2027	1.217%		23,300,000	219,889		—	—
MTNP notes	Mar. 07, 2028	1.367%		6,700,000	63,230		—	—
MTNP notes	Jan. 03, 2029	4.375%		500,000	701,100		—	—
FR notes ^2^	Sep. 29, 2028	Compounded SOFR(3M)<br> <br>+0.660%		200,000	280,440		—	—
The 183-3rd Public bond	Dec. 22, 2031	4.270%		—	160,000		—	160,000
The 184-3rd Public bond	Apr. 10, 2033	3.170%		—	100,000		—	100,000
The 186-4th Public bond	Jun. 26, 2034	3.695%		—	100,000		—	100,000
The 187-4th Public bond	Sep. 02, 2034	3.546%		—	100,000		—	100,000
The 188-2nd Public bond	Jan. 29, 2025	—		—	—		—	240,000
The 188-3rd Public bond	Jan. 29, 2035	2.706%		—	50,000		—	50,000
The 189-3rd Public bond	Jan. 28, 2026	2.203%		—	100,000		—	100,000
The 189-4th Public bond	Jan. 28, 2036	2.351%		—	70,000		—	70,000
The 190-3rd Public bond	Jan. 30, 2028	2.947%		—	170,000		—	170,000
The 190-4th Public bond	Jan. 30, 2038	2.931%		—	70,000		—	70,000
The 191-3rd Public bond	Jan. 15, 2029	2.160%		—	110,000		—	110,000
The 191-4th Public bond	Jan. 14, 2039	2.213%		—	90,000		—	90,000
The 192-3rd Public bond	Oct. 11, 2029	1.622%		—	50,000		—	50,000
The 192-4th Public bond	Oct. 11, 2039	1.674%		—	110,000		—	110,000
The 193-2nd Public bond	Jun. 17, 2025	—		—	—		—	70,000
The 193-3rd Public bond	Jun. 17, 2030	1.608%		—	20,000		—	20,000
The 193-4th Public bond	Jun. 15, 2040	1.713%		—	60,000		—	60,000
The 194-2nd Public bond	Jan. 27, 2026	1.452%		—	140,000		—	140,000
The 194-3rd Public bond	Jan. 27, 2031	1.849%		—	50,000		—	50,000
The 194-4th Public bond	Jan. 25, 2041	1.976%		—	80,000		—	80,000
The 195-2nd Public bond	Jun. 10, 2026	1.806%		—	80,000		—	80,000
The 195-3rd Public bond	Jun. 10, 2031	2.168%		—	40,000		—	40,000
The 196-1st Public bond	Jan. 27, 2025	—		—	—		—	270,000
The 196-2nd Public bond	Jan. 27, 2027	2.637%		—	100,000		—	100,000
The 196-3rd Public bond	Jan. 27, 2032	2.741%		—	30,000		—	30,000
The 197-1st Public bond	Jun. 27, 2025	—		—	—		—	280,000
The 197-2nd Public bond	Jun. 29, 2027	4.188%		—	120,000		—	120,000
The 198-1st Public bond	Jan. 10, 2025	—		—	—		—	70,000
The 198-2nd Public bond	Jan. 12, 2026	3.869%		—	150,000		—	150,000
The 198-3rd Public bond	Jan. 12, 2028	3.971%		—	80,000		—	80,000
The 199-1st Public bond	Jul. 11, 2025	—		—	—		—	85,000

All values are in US Dollars.

37 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won and foreign currencies in thousands)			September 30, 2025				December 31, 2024
Type	Maturity	Annual interestrates	Foreigncurrency		Koreanwon		Foreigncurrency		Koreanwon
The 199-2nd Public bond	Jul. 10, 2026	4.146%		—		160,000		—		160,000
The 199-3rd Public bond	Jul. 12, 2028	4.221%		—		155,000		—		155,000
The 200-1st Public bond	Feb. 27, 2026	3.552%		—		120,000		—		120,000
The 200-2nd Public bond	Feb. 26, 2027	3.608%		—		200,000		—		200,000
The 200-3rd Public bond	Feb. 27, 2029	3.548%		—		80,000		—		80,000
The 201-1st Public bond	Dec. 02, 2027	2.899%		—		130,000		—		130,000
The 201-2nd Public bond	Dec. 02, 2029	2.918%		—		70,000		—		70,000
The 201-3rd Public bond	Dec. 02, 2034	3.057%		—		100,000		—		100,000
The 18-2nd unsecured bond	Jul. 02, 2026	2.224%		—		50,000		—		50,000
The 19-1st unsecured bond	Jun. 12, 2027	3.691%		—		50,000		—		50,000
The 19-2nd unsecured bond	Jun. 12, 2029	3.783%		—		50,000		—		50,000
The 149-2nd<br>Won-denominated unsecured bond	Mar. 10, 2026	1.756%		—		30,000		—		30,000
The 152-2nd<br>Won-denominated unsecured bond	Aug. 28, 2026	1.982%		—		20,000		—		20,000
The 154th Won-denominated unsecured bond	Jan. 23, 2025	—		—		—		—		40,000
The 155-3rd<br>Won-denominated unsecured bond	Feb. 28, 2025	—		—		—		—		20,000
The 156-1st<br>Won-denominated unsecured bond	Mar. 25, 2025	—		—		—		—		60,000
The 156-2nd<br>Won-denominated unsecured bond ^2^	Mar. 25, 2032	10Y CMS+0.965%		—		40,000		—		40,000
The 158th Won-denominated unsecured bond	Jan. 27, 2025	—		—		—		—		50,000
The 159-2nd<br>Won-denominated unsecured bond	Aug. 11, 2027	4.505%		—		30,000		—		30,000
The 160-3rd<br>Won-denominated unsecured bond	Dec. 12, 2025	5.769%		—		30,000		—		30,000
The 161-3rd<br>Won-denominated unsecured bond	Jun. 20, 2025	—		—		—		—		30,000
The 161-4th<br>Won-denominated unsecured bond	Dec. 22, 2025	5.615%		—		10,000		—		10,000
The 163-1st<br>Won-denominated unsecured bond	Feb. 20, 2026	4.059%		—		20,000		—		20,000

38 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won and foreign currencies in thousands)			September 30, 2025				December 31, 2024
Type	Maturity	Annual interestrates	Foreigncurrency		Koreanwon		Foreigncurrency		Koreanwon
The 163-2nd<br>Won-denominated unsecured bond	Feb. 22, 2028	4.311%		—		80,000		—		80,000
The 164-3rd<br>Won-denominated unsecured bond	Apr. 14, 2028	4.220%		—		30,000		—		30,000
The 165-1st<br>Won-denominated unsecured bond	May. 09, 2025	—		—		—		—		30,000
The 165-2nd<br>Won-denominated unsecured bond	Nov. 09, 2026	3.932%		—		10,000		—		10,000
The 165-3rd Won-denominated unsecured bond	May. 07, 2027	3.972%		—		30,000		—		30,000
The 166-2nd<br>Won-denominated unsecured bond	Apr. 22, 2025	—		—		—		—		40,000
The 166-3rd<br>Won-denominated unsecured bond	May. 21, 2025	—		—		—		—		10,000
The 166-4th<br>Won-denominated unsecured bond	May. 22, 2025	—		—		—		—		40,000
The 167-2nd Won-denominated unsecured bond	Jan. 22, 2025	—		—		—		—		50,000
The 167-3rd<br>Won-denominated unsecured bond	Feb. 21, 2025	—		—		—		—		10,000
The 167-4th<br>Won-denominated unsecured bond	Dec. 22, 2025	3.858%		—		10,000		—		10,000
The 168-1st<br>Won-denominated unsecured bond	Jun. 05, 2025	—		—		—		—		40,000
The 168-2nd<br>Won-denominated unsecured bond	Aug. 06, 2025	—		—		—		—		70,000
The 168-3rd Won-denominated unsecured bond	Oct. 02, 2025	3.724%		—		40,000		—		40,000
The 169th Won-denominated unsecured bond	Apr. 04, 2025	—		—		—		—		50,000
The 170th Won-denominated unsecured bond	Jun. 12, 2026	3.688%		—		50,000		—		50,000
The 171-1st<br>Won-denominated unsecured bond	Jun. 11, 2027	3.330%		—		20,000		—		20,000

39 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won and foreign currencies in thousands)			September 30, 2025				December 31, 2024
Type	Maturity	Annual interestrates	Foreigncurrency		Koreanwon		Foreigncurrency		Koreanwon
The 171-2nd<br>Won-denominated unsecured bond	Aug. 12, 2027	3.329%		—		60,000		—		60,000
The 172-1st<br>Won-denominated unsecured bond	Mar. 06, 2026	3.514%		—		10,000		—		10,000
The 172-2nd<br>Won-denominated unsecured bond	Mar. 09, 2026	3.514%		—		40,000		—		40,000
The 172-3rd<br>Won-denominated unsecured bond	Sep. 09, 2026	3.474%		—		30,000		—		30,000
The 173-1st Won-denominated unsecured bond	Sep. 23, 2027	3.291%		—		60,000		—		60,000
The 173-2nd<br>Won-denominated unsecured bond	Sep. 24, 2027	3.291%		—		50,000		—		50,000
The 173-3rd<br>Won-denominated unsecured bond	Oct. 22, 2027	3.292%		—		40,000		—		40,000
The 174th Won-denominated unsecured bond	Nov. 10, 2025	3.339%		—		60,000		—		60,000
The 175-1st Won-denominated unsecured bond	Dec. 10, 2025	3.169%		—		50,000		—		50,000
The 175-2nd<br>Won-denominated unsecured bond	Dec. 10, 2027	3.101%		—		50,000		—		50,000
The 176th Won-denominated unsecured bond	Dec. 18, 2026	3.134%		—		70,000		—		70,000
The 177-1st<br>Won-denominated unsecured bond	Jul. 09, 2027	3.097%		—		70,000		—		—
The 177-2nd<br>Won-denominated unsecured bond	Jul. 12, 2027	3.097%		—		70,000		—		—
The 177-3rd Won-denominated unsecured bond	Jan. 09, 2029	3.115%		—		30,000		—		—
The 177-4th<br>Won-denominated unsecured bond	Jan. 09, 2030	3.140%		—		40,000		—		—
The 178-1st<br>Won-denominated unsecured bond	Feb. 28, 2029	3.026%		—		50,000		—		—
The 178-2nd<br>Won-denominated unsecured bond	Feb. 28, 2030	3.087%		—		30,000		—		—

40 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won and foreign currencies in thousands)			September 30, 2025					December 31, 2024
Type	Maturity	Annual interestrates	Foreigncurrency		Koreanwon			Foreigncurrency		Koreanwon
The 179-1st<br>Won-denominated unsecured bond	Sep. 23, 2027	3.013%		—		10,000			—		—
The 179-2nd<br>Won-denominated unsecured bond	Sep. 24, 2027	3.013%		—		40,000			—		—
The 179-3rd<br>Won-denominated unsecured bond	Mar. 24, 2028	3.038%		—		50,000			—		—
The 179-4th<br>Won-denominated unsecured bond	Mar. 25, 2030	3.126%		—		20,000			—		—
The 179-5th Won-denominated unsecured bond	Sep. 25, 2030	3.178%		—		20,000			—		—
The 180-1st<br>Won-denominated unsecured bond	Apr. 03, 2028	2.989%		—		90,000			—		—
The 180-2nd<br>Won-denominated unsecured bond	Apr. 04, 2028	2.989%		—		70,000			—		—
The 180-3rd<br>Won-denominated unsecured bond	Apr. 04, 2029	3.026%		—		40,000			—		—
The 181-1st Won-denominated unsecured bond	Nov. 22, 2027	2.730%		—		80,000			—		—
The 181-2nd<br>Won-denominated unsecured bond	May. 22, 2028	2.781%		—		100,000			—		—
The 181-3rd<br>Won-denominated unsecured bond	May. 22, 2029	2.851%		—		40,000			—		—
The 182-1st<br>Won-denominated unsecured bond	Feb. 11, 2028	2.776%		—		30,000			—		—
The 182-2nd<br>Won-denominated unsecured bond	Jun. 13, 2028	2.822%		—		70,000			—		—
The 183th Won-denominated unsecured bond	Aug. 22, 2028	2.798%		—		80,000			—		—
Subtotal						8,482,519					9,154,000
Less: Current portion						(1,759,732	)				(3,073,474	)
Discount on bonds						(24,617	)				(24,177	)
Total					~~W~~	6,698,170				~~W~~	6,056,349

41 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

^1^	As of September 30, 2025, the Controlling Company has outstanding notes in the amount of USD 100 million<br>with fixed interest rates under Medium Term Note Program (“MTNP”) registered on the Singapore Stock Exchange, which allowed issuance of notes of up to USD 2,000 million. However, the MTNP was terminated in 2007.<br>
^2^	As of September 30, 2025, the interest rates for Daily SOFR and CMS (10Y) are approximately 4.240%, 2.773%<br>respectively.
---	---
2)	Convertible bonds
---	---
(In millions of Korean won)
---	---	---	---	---	---	---	---	---	---	---	---
Type	Issuance Date		Maturity		Annual<br><br><br>interest Rate		September 30,2025		December 31,2024
The 1st CB (Private) ^1^		Jun. 5, 2020		Jun. 5, 2025		—	~~W~~	—		8,000
Redemption premium								—		2,267
Conversion rights adjustment								—		(580	)
Subtotal								—		9,687
Less: Current portion								—		(9,687	)
Total							~~W~~	—		—
^1^	Convertible bond was fully redeemed for the nine-month period ended September 30, 2025.
---	---

42 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

3)	Borrowings
a.	Short-term borrowings
---	---
(In millions of Korean won)
---	---	---	---	---	---	---	---	---	---
Type	Financial institution	Annual interest rates	September 30, 2025			December 31, 2024
			Foreign<br><br><br>currency			Foreign<br><br><br>currency		Korean<br><br><br>won
Operational
		4.900%~5.430%		—	13,990		—	~~W~~	13,990
	Shinhan Bank^1^	Term SOFR(3M)+1.580%		35,000	49,077		—		—
		—		—	—		—		87,000
		2.740%		—	70,000		—		—
	Woori Bank	—		—	—		—		141,950
	Korea Development	3.690%~4.830%		—	33,800		—		—
	Bank	—		—	—		—		35,000
	Industrial Bank of Korea	4.270%		—	6,000		—		6,000
	Hana Bank ^1^	FB(6M)+1.988%		—	5,000		—		—
	KB SECURITIES	—		—	—		—		120,000
		2.730%		—	30,000		—		—
	NongHyup Bank ^1^	MOR(6M)+1.770%		—	1,000		—		—
		—		—	—		—		14,200
	Standard Chartered Bank	—		—	—		—		32,000
	Korea Investment & Securities	2.730%~3.130%		—	160,000		—		—
	Kiwoom Securities Co., Ltd.	3.130%		—	10,000		—		—
	Shinhan Securities Co., Ltd.	2.880%~2.940%		—	197,390		—		—
	Daol Securities Co., Ltd	2.600%		—	97,991		—		—
	BIVD	6.400%		VND 4,360,375	232		—		—
Total					674,480			~~W~~	450,140

All values are in US Dollars.

^1^	As of September 30, 2025, the interest rates for Term SOFR (3M), Financial Bond (6M), and MOR (6M) are<br>3.976 %, 2.566 %, and 2.560 %, respectively.

43 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

b.	Long-term borrowings
(In millions of Korean won and thousands of foreign currencies)							December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
Financial institution	Type	Annual interest<br><br><br>rates					Foreign<br><br><br>currency
Export-Import<br>Bank of Korea	Inter-Korean<br><br><br>Cooperation Fund ^1^		1.000%	—	493			—	987
CA-CIB	General loans		3.020%~3.820%	—	200,000			—	100,000
JPM	General loans		—	—	—			—	100,000
DBS	General loans		2.980%~3.820%	—	200,000			—	100,000
	General loans		3.390%	—	100,000			—	100,000
	General loans ^2^		TermSOFR(3M)+1.300%	21,127	29,624			21,127	31,056
	General loans ^2^		TermSOFR(3M)+1.600%	8,640	12,115			8,910	13,098
Shinhan Bank	General loans		—	—	—			—	62,398
	General loans		4.300%	—	16,900			—	—
	General loans		—	—	—			35,000	51,450
	General loans ^2^		IBOR(3M)+0.950%	6,900	11,347			6,900	10,548
Woori Bank	PF loans ^2^		CD(91D)+1.750%	—	25,526			—	26,526
	General loans		3.970%	—	18,000			—	—
Hi Investment & Securities	CP		2.302%	—	97,104			—	95,321
Korea Investment & Securities	CP		—	—	—			—	78,933
Korea Development Bank	General loans		3.770%	—	33,000			—	33,000
KDB Bank Uzbekistan	loans ^3^		23.000%	UZS 29,744,161	3,569			UZS45,448,426	4,999
	loans ^3^		10.300%	5,446	7,886			5,400	7,725
NH Jayang	PF loans		—	—	—			—	8,366
Kyobo Life Insurance	PF loans		—	—	—			—	44,385
Standard Chartered Bank Korea	PF loans		3.900%	—	65,000			—	—
	PF loans		—	—	—			—	29,590
Samsung Life Insurance	PF loans		—	—	—			—	24,658
	General loans		4.750%	—	8,000			—	8,000
Kookmin Bank	General loans ^2^		CD(91D)+1.480%	—	20,000			—	—
NongHyup Bank	PF loans		3.900%	—	70,000			—	—
Korea Investment Capital	PF loans		8.000%	—	10,000			—	—
Korea Investment Savings Bank	PF loans		8.000%	—	6,000			—	—
DHG The 1st Co., Ltd.	PF loans		10.000%	—	10,000			—	—
Industrial Bank of Korea	PF loans		3.900%	—	65,000			—	—
Kyongnam Bank and others	General loans		4.300%	—	31,274			—	—
Hana Bank and others	PF loans		4.700%	—	359,042			—	—
Subtotal					1,399,880				931,040
Less: Current portion					(19,841	)			(371,451	)
Total					1,380,039				559,589

All values are in Euros.

^1^	The above Inter-Korean Cooperation Fund is repayable in installments over 13 years after a 7-year grace period.
^2^	As of September 30, 2025, the interest rates for TERM SOFR (3M), EURIBOR (3M), and CD (91D) are approximately<br>3.976%, 2.032% 2.570% respectively.
---	---
^3^	The general loans are repayable in installments over 3 years after a<br>two-year grace period.
---	---

44 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(2)	Repayment schedule of the Group’s debentures and borrowings including the portion of current liabilities<br>as of September 30, 2025, is as follows:
(In millions of Korean won)
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Bonds						Borrowings						Total
	In localcurrency		In foreigncurrency		Sub-<br><br><br>total		In localcurrency		In foreigncurrency		Sub-<br><br><br>total
Oct.1, 2025 ~ Sep.30, 2026	~~W~~	1,200,000		560,880		1,760,880		633,896		60,425		694,321		2,455,201
Oct.1, 2026 ~ Sep.30, 2027		990,000		640,549		1,630,549		1,268,318		41,739		1,310,057		2,940,606
Oct.1, 2027 ~ Sep.30, 2028		1,305,000		1,044,770		2,349,770		33,000		3,818		36,818		2,386,588
Oct.1, 2028 ~ Sep.30, 2029		400,000		701,100		1,101,100		—		3,818		3,818		1,104,918
After Oct.1, 2029		1,500,000		140,220		1,640,220		25,526		3,819		29,345		1,669,565
Total	~~W~~	5,395,000		3,087,519		8,482,519		1,960,740		113,619		2,074,359		10,556,878

45 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

13.	Provisions

Changes in provisions the nine-month period ended September 30, 2025 and 2024, are as follows:

(In millions of Korean won)	2025
	Litigation			Restoration cost			Others			Total
Beginning balance	~~W~~	21,690			141,761			60,956			224,407
Increase (transfer)		27			2,421			16,502			18,950
Usage		(27	)		(5,411	)		(14,106	)		(19,544	)
Reversal		(100	)		(774	)		(447	)		(1,321	)
Others		—			(3,717	)		—			(3,717	)
Ending balance	~~W~~	21,590			134,280			62,905			218,775
Less: Current	~~W~~	(21,590	)		(28,657	)		(62,042	)		(112,289	)
Non-current		—			105,623			863			106,486
(In millions of Korean won)	2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Litigation			Restoration cost			Others			Total
Beginning balance	~~W~~	29,707			133,159			59,357			222,223
Increase (transfer)		(194	)		9,290			5,295			14,391
Usage		(3,389	)		(1,298	)		(4,901	)		(9,588	)
Reversal		(3,102	)		(627	)		(941	)		(4,670	)
Ending balance	~~W~~	23,022			140,524			58,810			222,356
Less: Current	~~W~~	(22,990	)		(23,376	)		(58,678	)		(105,044	)
Non-current		32			117,148			132			117,312

46 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

14.	Net Defined Benefit Liabilities (Assets)
(1)	The amounts recognized in the statements of financial position as of September 30, 2025 and December 31,<br>2024, are determined as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Present value of defined benefit obligations	~~W~~	2,332,222			2,232,898
Fair value of plan assets		(2,093,999	)		(2,153,792	)
Liabilities	~~W~~	294,090			128,457
Assets	~~W~~	55,867			49,351
(2)	Changes in the defined benefit obligations for the nine-month period ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning	~~W~~	2,232,898			2,365,793
Current service cost		166,996			165,507
Interest expense		48,742			62,965
Benefit paid		(108,119	)		(177,901	)
Remeasurements on defined benefit obligations:		4,352			4,108
Changes in scope of consolidation		(11,308	)		(422	)
Others		(1,339	)		539
Ending	~~W~~	2,332,222			2,420,589
(3)	Changes in the fair value of plan assets for the nine-month period ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning	~~W~~	2,153,792			2,462,925
Interest income		50,432			68,715
Remeasurements on plan assets:		(2,836	)		1,451
Employer contributions		6,763			7,136
Benefits paid		(99,383	)		(168,724	)
Changes in scope of consolidation		(11,636	)		—
Others		(3,133	)		36,445
Ending	~~W~~	2,093,999			2,407,948

47 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(4)	Amounts recognized in the consolidated statement of profit or loss for the nine-month period ended<br>September 30, 2025 and 2024, are as follows:
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Current service cost	~~W~~	166,996			165,507
Net interest expense		(1,690	)		(5,750	)
Transfer out		(9,698	)		(11,706	)
Total expenses	~~W~~	155,608			148,051
15.	Commitments and Contingencies
---	---
(1)	As of September 30, 2025, major commitments with local financial institutions are as follows:<br>
---	---
(In millions of Korean won and<br><br><br>foreign currencies in thousands)	Financial institution	Limit
---	---	---	---	---
Bank overdraft	Kookmin Bank and others	~~W~~	374,000	—
Inter-Korean Cooperation Fund	Export-Import Bank of Korea		37,700	493
Economic Cooperation Business Insurance	Export-Import Bank of Korea		3,240	1,732
Collateralized loan backed by electronic accounts<br>receivable-trade	Kookmin Bank and others		781,100	216,111
Plus electronic notes payable	Industrial Bank of Korea		50,000	995
Working capital loan	Korea Development Bank<br> <br>and<br>others		1,519,590	260,890
	Shinhan Bank		64,767	USD 64,767
	Woori Bank		6,900	EUR 6,900
Facility loans	Shinhan Bank and others		699,500	627,908
Derivatives transaction limit	Korea Development Bank and others		1,920,000	USD 1,920,000
	Shinhan Bank and others		30,000,000	JPY 30,000,000
			KRW 3,465,130	1,108,129
Total			1,984,767	1,984,767
			6,900	6,900
			30,000,000	30,000,000

All values are in US Dollars.

48 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(2)	As of September 30, 2025, guarantees received from financial institutions are as follows:<br>
(In millions of Korean won and<br><br><br>foreign currencies in thousands)	Financial institution
---	---	---
Hana Bank	Guarantee for payment in Korean currency	4,000
	Comprehensive credit line and others	2,900
	Comprehensive credit line and others	10,300
Kookmin Bank	Guarantee for payment in foreign currency	3,186
	Guarantee for payment in Korean currency	754
	Refund guarantee for advances received	21,550
Shinhan Bank	Guarantee for payment in foreign currency	76,633
	Corporate card issuance guarantee	231,830
	Guarantee for payment in Korean currency	100
	Guarantee for payment in foreign currency	7,000
Woori Bank	Performance guarantee and others	233
	Guarantee for payment in foreign currency	6,900
HSBC	Guarantees for depositions	1,511
Seoul Guarantee Insurance Company	Performance guarantee and others	426,176
Korea Software Financial Cooperative	Performance guarantee and others	1,653,243
Korea Specialty Contractor Financial Cooperative	Performance guarantee and others	135
Korea Housing Finance Corporation	Performance guarantee and others	25,526
Information & Communication Financial Cooperative	Performance guarantee and others	838,233
Total	KRW	2,951,067
		120,413
		6,900
	VND	231,830

All values are in US Dollars.

49 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(3)	The Controlling Company is jointly and severally obligated with KT Sat Co., Ltd., a subsidiary, to pay KT Sat<br>Co., Ltd.’s liabilities incurred prior to spin-off. As of September 30, 2025, the Controlling Company and KT Sat Co., Ltd. are jointly and severally liable for reimbursement of ~~W~~<br>428 million (as of December 31, 2024: ~~W~~ 433 million).
(4)	For the nine-month period ended September 30, 2025, the Group entered into agreements with the<br>Securitization Specialty Companies (2025: First 5G 79th to 82nd Securitization Specialty Co., Ltd., 2024: First 5G 73rd to 78th Securitization Specialty Co., Ltd.) and disposed of its trade receivables related to handset sales. The Group also made<br>asset management agreements with each securitization specialty company and in accordance with the agreement, the Group will receive asset management fees upon liquidation of the securitization specialty company.
---	---
(5)	As of September 30, 2025, the Group is a defendant in 164 lawsuits with the total claimed amount of<br>~~W~~ 157,815 million (as of December 31, 2024: ~~W~~ 141,941 million). As of September 30, 2025, litigation provisions of ~~W~~ 21,590 million for pending lawsuits and unasserted claims are<br>recorded as liabilities for potential loss in the ordinary course of business. The final outcomes of the cases cannot be estimated as of September 30, 2025 (Note 13).
---	---
(6)	Under the agreement of bond issuance and borrowings, the Group is required to maintain certain financial ratios<br>such as debt-to-equity ratio, use the funds for the designated purpose and report to the creditors periodically. The covenant also contains restriction on provision of<br>additional collateral and disposal of certain assets.
---	---
(7)	As of September 30, 2025, the Group participates in Algerie Sidi Abdela new town development consortium<br>(percentage of ownership: 2.5%) and has joint liability with other consortium participants.
---	---

50 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(8)	As of September 30, 2025, the contract amount of properties and equipment, intangible assets and<br>investment properties acquisition agreement made but not yet recognized amounts to ~~W~~ 346,898 million (as of December 31, 2024: ~~W~~ 350,949 million).
(9)	As of September 30, 2025, there are derivatives generated by the Group granting Drag-Along Right to<br>financial investors participating in paid-in capital increase of K Bank Inc. (Note 6).
---	---
(10)	The Group entered into an agreement with financial investors of Epsilon Global Communications Pte regarding the<br>acquisition of shares contract. If certain conditions are not met in the future as disclosed in the terms and conditions of the agreement, financial investors may exercise Tag-Along Right, Drag-Along Right,<br>and the right to sell shares for the convertible preferred shares they hold (Note 6).
---	---
(11)	The Group has an obligation for additional contributions as per agreement to Storm Ventures FUND VII and<br>others. As of September 30, 2025, remaining amounts of USD 27,650 thousand and JPY 160,000 thousand will be invested through the Capital Call method in the future.
---	---
(12)	During the operating period, the Group has an obligation of ~~W~~ 470,160 million (100%) to<br>provide financial support as an operating investor to K Defense Co., Ltd. established in accordance with the Private Investment Act on Social Infrastructure.
---	---
(13)	The Group has an agreement related to a stock sale contract with HYUNDAI MOBIS Co., Ltd., and HYUNDAI MOTOR<br>COMPANY. If the Company intends to dispose of the acquired stocks to a third party after a certain period has elapsed from the date of the contract and the acquired stocks are to be disposed to a third party, HYUNDAI MOBIS Co., Ltd., and HYUND AI<br>MOTOR COMPANY may exercise a preferential purchase right to designate a buyer with priority.
---	---
(14)	The Group entered into an agreement with equity investor who participated in the equity acquisition contract of<br>KT Cloud Co., Ltd. According to this agreement, if conditions per the agreement are met, the financial investor may exercise a Tag-Along or a Put-Option to the Group in<br>the future. In relation to this contract, the Group and the financial investor may settle mutual profits if there is a difference between the final public offering price and the preliminary public offering price (Note 6).
---	---
(15)	The Group has the obligation of paying Minimum Guarantee as utilizing product bundling of Tving Co., Ltd., and<br>the right to be paid a certain proportion of the excess as per agreement.
---	---
(16)	As of September 30, 2025, the Group is in the process of exercising a put option on all of its shares in<br>KT Rwanda Networks Ltd. under the shareholders’ agreement with the Rwandan government.
---	---

51 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(17)	Details of properties and equipment and investment properties provided as collateral as of September 30,<br>2025 and December 31, 2024, are as follows
(in millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---
Collateral	Carrying<br><br><br>amount		Securedamount		Related<br><br><br>account		Relatedamount		Mortgagee
Land and buildings	~~W~~	1,296,447		816,362		Borrowings		648,289	Industrial Bank of Korea/Shinhan Bank/Standard Chartered Bank<br><br><br>and others
Land and buildings		724,897		107,905		Deposits<br>received		91,722	leaseholders
(in millions of Korean won)	December 31, 2024
Collateral	Carrying<br><br><br>amount		Securedamount		Related<br><br><br>account		Relatedamount		Mortgagee
Land and buildings	~~W~~	79,959		76,668		Borrowings		63,890	Industrial Bank of Korea/Shinhan Bank/Standard<br><br><br>Chartered Bank
Land and buildings		541,351		68,019		Deposits<br>received		58,062	leaseholder
(18)	The Group has established supplier finance agreements with certain suppliers, under which participating<br>suppliers may receive early payment of invoices issued to the Group through the Group’s external finance provider. The Group pays the finance provider in accordance with the usual payment terms to settle the debt. As of September 30,<br>2025, all financial liabilities subject to the supplier finance agreement are included in trade and other payables, and the carrying amount is ~~W~~ 49,542 million (as of December 31, 2024: ~~W~~ 16,081<br>million). Of these, the carrying amount of the part that the suppliers have already received from the finance provider is ~~W~~ 32,410 million (as of December 31, 2024: ~~W~~ 9,746 million). There were no<br>significant non-cash changes in the carrying amount of the trade and other payables included in the Group’s supplier finance agreement.
---	---
(19)	As of September 30, 2025, the Group became aware of damage caused by unauthorized small sum-payments and security incidents, and is currently under investigation by the Personal Information Protection Commission regarding the timing and circumstances of the incident. As the investigation is ongoing,<br>the Group cannot reasonably estimate any obligations that may arise in connection with this matter.
---	---

52 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

16.	Leases

Information for leases when the Group acts as a lessee is as follows. Information on leases when the Group acts as a lessor is described in Note 9.

(1)	Amounts recognized in the consolidated statement of financial position

The consolidated statement of financial position shows the following amounts relating to leases:

(In millions of Korean won)	September 30, 2025		December 31, 2024
Right-of-use<br>assets
Property and building	~~W~~	995,882		950,940
Machinery and communication line facilities		74,069		103,672
Others		111,969		158,158
Total	~~W~~	1,181,920		1,212,770
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Lease liabilities^1^
Current	~~W~~	346,649		349,264
Non-current		708,938		710,189
Total	~~W~~	1,055,587		1,059,453
^1^	Included in the line item other current liabilities and other<br>non-current liabilities in the consolidated statements of financial position (Note 8).
---	---

For the nine-month periods ended September 30, 2025 and 2024, right-of-use assets related to leases increased by ~~W~~ 300,230 million and ~~W~~ 224,696, respectively.

(2)	Amounts recognized in the consolidated statement of profit or loss

The consolidated statement of profit or loss relating to leases for the nine-month period September 30, 2025, and 2024, are as follows:

(In millions of Korean won)	2025
Depreciation of<br>right-of-use assets
Property and building	~~W~~	239,032	224,482
Machinery and communication line facilities		23,563	19,257
Others		54,893	61,023
Total	~~W~~	317,488	304,762
Interest expense relating to lease liabilities	~~W~~	28,797	37,229
Expense relating to short-term leases		8,381	5,784
Expense relating to leases of low-value assets that are<br>not short-term leases		22,495	19,113
Expense relating to variable lease payments not included in lease liabilities		10,053	10,792

The total cash outflow for leases for the nine-month periods ended September 30, 2025 and 2024, is ~~W~~ 366,742 million and ~~W~~ 344,704 million, respectively.

53 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

17.	Retained Earnings

Details of retained earnings as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
Legal reserve ^1^	~~W~~	782,249	782,249
Voluntary reserves ^2^		4,651,362	4,651,362
Unappropriated retained earnings		9,552,570	8,346,165
Total	~~W~~	14,986,181	13,779,776
^1^	The Commercial Code of the Republic of Korea requires the Controlling Company to appropriate, as a legal<br>reserve, an amount equal to a minimum of 10% of cash dividends paid until such reserve equals 50% of its issued share capital. The reserve is not available for the payment of cash dividends but may be transferred to share capital with the approval<br>of the Controlling Company’s Board of Directors or used to reduce accumulated deficit, if any, with the ratification of the Controlling Company’s majority shareholders.
---	---
^2^	The reserves of research and development of human resources in other surplus reserves are separately<br>accumulated on disposal of retained earnings on tax filing adjustments when calculating income taxes in accordance with regulations of Tax Reduction and Exemption Control Act of Korea. Reversal of the reserves according to the relevant tax law can<br>be paid out as dividends.
---	---

54 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

18.	Other Components of Equity
(1)	The Group’s other components of equity, as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Treasury stock	~~W~~	(461,135	)		(215,210	)
Gain on disposal of treasury stock		2,826			2,862
Share-based compensation		4,688			7,106
Equity transactions within consolidated entities<br>^1^		(431,098	)		(432,318	)
Total	~~W~~	(884,719	)		(637,560	)
^1^	Profit or loss incurred from transactions with non-controlling interest<br>and investment difference incurred from change in proportion of subsidiaries are included.
---	---
(2)	As of September 30, 2025 and December 31, 2024, the details of treasury stock, are as follows:<br>
---	---
	September 30, 2025		December 31, 2024
---	---	---	---	---
Number of shares (in shares)		10,926,622		6,188,739
Amount (in millions of Korean won)	~~W~~	461,135		215,210

Treasury stock held as of September 30, 2025, is expected to be used for stock compensation for the Group’s directors, employees, and for other purposes.

55 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

19.	Revenue from Contracts with Customers and Relevant Contract Assets and Liabilities
(1)	The Group has recognized the following amounts as revenue for three-month and the nine-month periods ended<br>September 30, 2025 and 2024:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Revenue from contracts with customers	~~W~~	7,051,596		21,196,380		6,594,289		19,681,289
Revenue from other sources		75,138		202,808		60,326		174,299
Total	~~W~~	7,126,734		21,399,188		6,654,615		19,855,588
(2)	Operating revenues for the three-month and nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Services provided	~~W~~	5,920,837		17,438,923		5,751,952		17,251,247
Sales of goods		1,205,897		3,960,265		902,663		2,604,341
Total	~~W~~	7,126,734		21,399,188		6,654,615		19,855,588

Revenue from providing services is recognized over time and revenue from sales of goods is recognized at a point in time. Revenue from real estate construction commitments included in sales of goods is recognized over time.

(3)	The contract assets, liabilities and deferred revenue recognized in relation to the revenues from contracts<br>with customers are as follows:
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Contract assets ^1^	~~W~~	1,124,055		977,514
Contract liabilities ^1^		286,612		1,089,146
Deferred revenue ^2^		101,111		87,209
^1^	The Group recognized contract assets of ~~W~~ 145,689 million and contract liabilities of<br>~~W~~ 25,135 million for long-term construction contracts as of September 30, 2025 (December 31, 2024: contract assets of ~~W~~ 176,708 million and contract liabilities of ~~W~~ 815,826 million). The<br>Group recognizes contract assets as trade receivables and other receivables, and contract liabilities as other current liabilities.
---	---
^2^	Deferred revenue related to government grant is excluded.
---	---

56 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(4)	The contract costs recognized as assets are as follows:
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Incremental costs of obtaining a contract	~~W~~	2,000,539		1,666,042
Costs to fulfil a contract		79,389		72,122
Total	~~W~~	2,079,928		1,738,164

As of September 30, 2025, the Group recognized ~~W~~ 1,338,011 million (nine-month period ended September 30, 2024: ~~W~~ 1,285,231 million) of operating expenses related to contract assets.

(5)	For the three-month and nine-month periods ended September 30, 2025 and 2024, revenue recognized from contract<br>liabilities and deferred revenue carried-forward, is as follows:
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Revenue recognized from the beginning balance of contract liabilities
Allocation of the transaction price	~~W~~	40,489		159,114		50,466		166,251
Deferred revenue of joining/installment fees		10,785		35,088		10,023		32,727
Total	~~W~~	51,274		194,202		60,489		198,978

57 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

20.	Operating Expenses
(1)	Operating expenses for the three-month and nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-<br><br><br>month		Nine-<br><br><br>month		Three-<br><br><br>month		Nine-<br><br><br>month
Salaries and wages	~~W~~	1,167,608		3,408,799		1,118,334		3,432,409
Depreciation		710,166		2,141,718		710,135		2,114,914
Depreciation of<br>right-of-use assets		104,183		317,488		98,571		304,762
Amortization of intangible assets		151,336		451,054		156,045		484,926
Commissions		391,908		1,182,465		338,843		1,024,231
Interconnection charges		100,191		297,688		107,515		319,606
International interconnection fees		33,492		94,998		39,315		102,600
Purchase of inventories		1,147,318		2,714,675		881,601		2,597,849
Changes of inventories		70		496,364		60,868		9,086
Sales promotion expense and sales commissions		612,189		1,777,550		568,316		1,689,037
Service costs		617,858		1,827,462		536,023		1,602,824
Utilities		155,758		419,276		151,132		415,562
Taxes and dues		68,677		196,179		68,615		198,343
Rent		41,560		114,627		34,209		110,390
Insurance premiums		18,806		50,252		20,320		51,961
Installation fees		43,903		127,667		40,325		120,376
Advertising expenses		45,463		115,050		44,359		117,168
Research and development expenses		55,060		155,492		44,505		138,683
Card service costs		702,065		2,074,554		734,794		2,247,715
Others		420,942		1,194,060		436,680		1,308,550
Total	~~W~~	6,588,553		19,157,418		6,190,505		18,390,992
(2)	Details of employee benefits for the three-month and nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Salaries & Wages	~~W~~	1,087,014		3,168,147		1,037,475		3,189,483
Post-employment benefits (defined benefits plan)		49,208		155,608		49,308		148,051
Post-employment benefits (defined contributions plan)		23,747		62,171		23,684		69,673
Share-based payment		2,915		8,148		2,444		6,292
Others		4,724		14,725		5,423		18,910
Total	~~W~~	1,167,608		3,408,799		1,118,334		3,432,409

58 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

21.	Other Income and Other Expenses
(1)	Other income for the three-month and nine-month periods ended September 30, 2025 and 2024, are as follows:<br>
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-<br><br><br>month		Nine-<br><br><br>month		Three-<br><br><br>month		Nine-<br><br><br>month
Gain on disposal of property and equipment and investment properties	~~W~~	3,156		13,484		8,773		31,257
Gain on disposal of intangible assets		—		1,641		199		311
Gain on disposal of<br>right-of-use assets		983		2,647		887		2,414
Compensation on impairment of property and equipment		43,643		58,324		40,712		106,312
Income from government subsidies		357		474		9,102		23,309
Gain on disposal of investments in associates		—		8,384		17,968		19,074
Gain on disposal of subsidiaries		23,456		33,612		—		52,688
Others		14,672		42,347		11,835		34,408
Total	~~W~~	86,267		160,913		89,476		269,773
(2)	Other expenses for the three-month and nine-month periods ended September 30, 2025 and 2024, are as follows:<br>
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---	---
	Three-<br><br><br>month		Nine-<br><br><br>month		Three-<br><br><br>month			Nine-<br><br><br>month
Loss on disposal of properties and equipment and investment properties	~~W~~	11,041		37,043		12,059			48,404
Loss on disposal of intangible assets		2,244		7,549		431			8,270
Loss on disposal of<br>right-of-use assets		884		2,518		148			1,423
Loss on disposal of investments in associates		—		—		5			17
Loss on disposal of subsidiaries		—		6,564		—			3,154
Donations		1,884		7,602		801			5,127
Other allowance for bad debts		5,082		13,157		(129	)		20,990
Others		5,117		25,730		27,101			71,430
Total	~~W~~	26,252		100,163		40,416			158,815

59 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

22.	Financial Income and Costs
(1)	Details of finance income for the three-month and nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025					2024
---	---	---	---	---	---	---	---	---	---	---
	Three-month			Nine-month		Three-month			Nine-month
Interest income	~~W~~	64,193			197,074		74,441			230,916
Gain on foreign currency transactions		76,460			88,156		6,035			13,943
Gain on foreign currency translation		(159,276	)		109,328		1,811			22,726
Gain on derivatives transactions		11,785			11,939		39			3,248
Gain on valuation of derivatives		19,936			39,600		(152,859	)		76,974
Dividend income		16,507			58,011		15,233			57,445
Others		566			2,293		1,621			9,701
Total	~~W~~	30,171			506,401		(53,679	)		414,953
(2)	Details of finance costs for the three-month and nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)	2025					2024
---	---	---	---	---	---	---	---	---	---	---
	Three-month			Nine-month		Three-month			Nine-month
Interest expenses	~~W~~	84,351			273,194		83,201			278,064
Loss on foreign currency transactions		4,374			12,913		2,605			8,643
Loss on foreign currency translation		26,006			52,157		(143,488	)		82,764
Loss on derivatives transactions		74,791			79,533		2,275			2,275
Loss on valuation of derivatives		(161,083	)		95,220		2,323			2,677
Loss on disposal of trade receivables		2,624			6,091		1,148			4,737
Loss on valuation of financial instruments		—			9,653		(738	)		15,655
Others		579			4,187		1,161			6,196
Total	~~W~~	31,642			532,948		(51,513	)		401,011
23.	Income Tax Expense
---	---

Income tax expense is recognized based on the best estimate of the weighted average annual income tax rate expected for the full financial year. The estimated average annual effective income tax rate used for the year ending December 31, 2025, is 23.5%.

60 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

24.	Earnings per Share

Basic earnings per share for the three-month and nine-month periods ended September 30, 2025 and 2024, are calculated as follows:

(1)	Basic Earnings per Share

Basic earnings per share is calculated by dividing the profit for the period by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares held by the Group as treasury stock.

	2025				2024
	Three-month		Nine-month		Three-month		Nine-month
Profit attributable to ordinary shares (In millions of Korean won)	~~W~~	391,266		1,618,502		357,075		1,125,113
Weighted average number of ordinary shares used for calculating diluted earnings per share (Innumber of shares)		241,382,469		243,633,295		245,825,775		245,937,306
Basic earnings per share (In Korean won)	~~W~~	1,621		6,643		1,453		4,575
(2)	Diluted Earnings per Share
---	---

Diluted earnings per share from operations is calculated by adjusting the weighted average number of ordinary shares outstanding assuming that all dilutive potential ordinary shares are converted into ordinary shares. The Group has dilutive potential ordinary shares from convertible bonds, convertible preferred stock and other share-based payments:

	2025						2024
	Three-month			Nine-month			Three-month			Nine-month
Profit attributable to ordinary shares (In millions of Korean won)	~~W~~	391,266			1,618,502			357,075			1,125,113
Adjusted net income attributable to ordinary shares (In millions of Korean won)		(113	)		(679	)		(213	)		(454	)
Diluted profit attributable to ordinary shares (In millions of Korean won)		391,153			1,617,823			356,862			1,124,659
Number of dilutive potential ordinary shares outstanding (In number of shares) ^1^		11,767			47,171			99,797			77,760
Weighted average number of ordinary shares used for calculating diluted earnings per share (Innumber of shares)		241,394,236			243,680,466			245,925,572			246,015,066
Diluted earnings per share (In Korean won)	~~W~~	1,620			6,639			1,451			4,572
^1^	The dilutive potential common shares consist of share-based compensation.
---	---

Diluted earnings per share is calculated by dividing the profit for the period by the sum of the weighted average number of ordinary shares and dilutive potential ordinary shares. This calculation takes into account both ordinary shares and all dilutive potential shares.

61 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

25.	Cash Generated from Operations
(1)	Cash flows from operating activities for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
1. Profit for the period	~~W~~	1,745,334			1,186,715
2. Adjustments for:
Income tax expense		534,864			408,049
Interest income ^1^		(283,793	)		(310,295	)
Interest expense ^1^		327,468			320,365
Dividend income ^2^		(60,551	)		(59,429	)
Depreciation		2,180,929			2,147,100
Amortization of intangible assets		457,048			494,165
Depreciation of<br>right-of-use assets		317,488			304,762
Provisions for post-employment benefits (defined benefits)		165,306			159,757
Allowance for bad debts		81,216			136,800
Share of net profit or loss of associates and joint ventures		(3,954	)		(5,052	)
Gain on disposal of associates and joint ventures		(35,432	)		(68,591	)
Loss on disposal of property, equipment and investment properties		23,559			17,234
Gain on disposal of<br>right-of-use assets		(129	)		(991	)
Loss on disposal of intangible assets		5,908			7,959
Impairment loss on intangible assets		802			857
Loss (Gain) on foreign currency translation		(57,048	)		60,008
Loss (Gain) Gain on valuation of derivatives		122,196			(75,312	)
Loss on disposal of financial assets at amortized cost		18			1
Loss (Gain) on disposal of financial assets at fair value through profit or loss		2,933			(4,103	)
Loss (Gain) on valuation of financial assets at fair value through profit or loss ^3^		7,922			9,164
Others		(77,619	)		99,071
3. Changes in operating assets and liabilities
Increase in trade receivables		(432,231	)		(325,288	)
Decrease (Increase) in other receivables		(530,618	)		131,218
Increase in other current assets		(714,539	)		(165,743	)
Increase in other non-current assets		(163,219	)		(56,095	)
Decrease in inventories		642,136			15,939
Increase (decrease) in trade payables		161,948			(114,004	)
Increase in other payables		676,371			58,865
Increase (decrease) in other current liabilities		(819,339	)		375,341
Decrease in other non-current liabilities		(5,319	)		(9,211	)
Decrease in provisions		(1,437	)		(2,651	)
Increase (decrease) in deferred revenue		330			(1,401	)
Decrease in plan assets		263,840			242,916
Payment of post-employment benefits (defined benefit)		(302,188	)		(312,051	)
4. Cash generated from operations (1+2+3)		4,230,200			4,666,069
^1^	Subsidiaries such as BC Card Co., Ltd. recognize interest income and expense as operating revenue and expense,<br>respectively. Interest income of ~~W~~ 86,719 million (for the nine-month period ended September 30, 2024: ~~W~~ 79,379 million) recognized as operating revenue and interest expense of ~~W~~<br>54,274 million (for the nine-month periods ended September 30, 2024: ~~W~~ 42,301 million) recognized as operating expense, for the nine-month period ended September 30, 2025, are included in the adjustment.<br>
---	---

62 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

^2^	BC Card Co., Ltd. recognized dividend income as operating revenue. Dividend income of ~~W~~<br>2,534 million recognized as operating revenue for the nine-month period ended September 30, 2025 (for nine-month period ended September 30, 2024: ~~W~~ 1,701 million) is included in the adjustment.
^3^	Subsidiaries such as KT Investment Co., Ltd. recognized gain and loss on valuation of financial assets at fair<br>value through profit or loss as operating revenue and expense, respectively. Net loss on valuation of financial assets at fair value through profit or loss of ~~W~~ 75 million (for the nine-month period ended September 30,<br>2024: net loss on valuation of financial assets at fair value through profit or loss of ~~W~~ 2,312 million) that is recognized as operating revenue and expense, for the nine-month period ended September 30, 2025, is included in the<br>adjustment.
---	---
(2)	Significant transactions not affecting cash flows for the nine-month periods ended September 30, 2025 and 2024,<br>are as follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Reclassification of current portion of borrowings	~~W~~	1,587,662			3,126,734
Reclassification of<br>construction-in-progress to property and equipment		2,309,794			1,342,896
Change of other payables relating to acquisition of property and equipment		(400,798	)		(44,994	)
Change of other payables relating to acquisition of intangible assets		(283,255	)		(290,400	)
Reclassification of other payables from net defined benefit liabilities		(23,652	)		(14,144	)
Increase in financial assets due to stock exchange		—			52,841

63 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

26.	Changes in Liabilities Arising from Financing Activities

Details of changes in liabilities arising from financing activities, liabilities related to cashflow to be classified as future financing activities, for the nine-month periods ended September 30, 2025 and 2024, are as follows:

(In millions of Korean won)	2025
							Others
	Beginning			Cash flows			Acquisition		Changes inFX rate			Fair valuechange		Otherchanges			Ending
Borrowings	~~W~~	10,520,691			238,174			22,961		(80,403	)		—		(169,161	)		10,532,262
Lease liabilities		1,059,453			(298,468	)		353,243		—			—		(58,641	)		1,055,587
Derivative liabilities		3			405			—		—			6,218		—			6,626
Derivative assets		(445,471	)		126,738			—		—			40,669		55,349			(222,715	)
Total	~~W~~	11,134,676			66,849			376,204		(80,403	)		46,887		(172,453	)		11,371,760
(In millions of Korean won)	2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
							Others
	Beginning			Cash flows			Acquisition		Changes inFX rate			Fair valuechange			Otherchanges			Ending
Borrowings	~~W~~	10,218,165			(514,277	)		—		64,970			—			(234	)		9,768,624
Lease liabilities		1,179,909			(266,463	)		227,146		—			264			(39,146	)		1,101,710
Derivative liabilities		24,547			(855	)		—		—			837			(22,223	)		2,306
Derivative assets		(159,211	)		1,118			—		(59,494	)		(16,881	)		22,486			(211,982	)
Total	~~W~~	11,263,410			(780,477	)		227,146		5,476			(15,780	)		(39,117	)		10,660,658

64 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

27.	Segment Information
(1)	The management of the Group determines the operating segments based on the reported information when<br>establishing the business strategy.
---	---
Details	Business service
---	---
ICT	Mobile/fixed line telecommunication service and convergence business, B2B business and others
Finance	Credit card business
Satellite TV	Satellite TV business
Real estate	Residential building development and supply
Others	IT, facility security, global business, and others
(2)	Details of each segment for the three-month and nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	2025
	Operating<br><br><br>revenues						Operating<br><br><br>profit				Depreciation andamortization ^1^
	Three-<br><br><br>month			Nine-<br><br><br>month			Three-month		Nine-month		Three-month			Nine-month
ICT	~~W~~	5,108,964			14,563,794			340,867		1,209,716		812,936			2,436,415
Finance		840,939			2,504,511			39,512		135,197		6,979			21,829
Satellite TV		172,221			512,240			16,405		44,024		7,952			30,257
Real estate		182,573			473,103			33,139		74,920		18,185			52,333
Others		2,441,654			7,775,209			99,463		725,178		153,759			465,339
Subtotal		8,746,351			25,828,857			529,386		2,189,035		999,811			3,006,173
Elimination		(1,619,617	)		(4,429,669	)		8,795		52,735		(34,126	)		(95,913	)
Consolidated amount	~~W~~	7,126,734			21,399,188			538,181		2,241,770		965,685			2,910,260
^1^	Sum of the amortization of property and equipment, intangible assets, investment properties and right-of-use assets.
---	---

65 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	2024
	Operating<br><br><br>revenues						Operating<br><br><br>profit					Depreciation andamortization ^1^
	Three-<br><br><br>month			Nine-<br><br><br>month			Three-month		Nine-month			Three-month			Nine-month
ICT	~~W~~	4,764,983			14,008,107			338,858		1,091,489			805,837			2,415,088
Finance		859,699			2,640,662			31,374		106,297			8,400			25,339
Satellite TV		177,342			531,432			10,692		36,377			11,890			36,499
Real estate		144,902			431,539			17,719		57,269			17,050			52,389
Others		2,000,523			6,017,508			51,837		183,909			151,921			456,635
Subtotal		7,947,449			23,629,248			450,480		1,475,341			995,098			2,985,950
Elimination		(1,292,834	)		(3,773,660	)		13,630		(10,745	)		(30,347	)		(81,348	)
Consolidated amount	~~W~~	6,654,615			19,855,588			464,110		1,464,596			964,751			2,904,602
^1^	Sum of the amortization of property and equipment, intangible assets, investment properties and right-of-use assets.
---	---
(3)	Operating revenues for the nine-month periods ended September 30, 2025 and 2024, and non-current assets as of September 30, 2025 and December 31, 2024, by geographical regions, are as follows:
---	---
(In millions of Korean won)	2025
---	---	---	---	---	---	---
	Operating revenues				Non-current assets ^1^
	Three-month		Nine-month		September 30, 2025
Domestic	~~W~~	7,082,746		21,267,165		19,638,078
Overseas		43,988		132,023		144,653
Total	~~W~~	7,126,734		21,399,188		19,782,731
^1^	Sum of property and equipment, intangible assets, investment properties and right-of-use assets.
---	---
(In millions of Korean won)	2024
---	---	---	---	---	---	---
	Operating revenues				Non-current assets ^1^
	Three months		Nine months		December 31, 2024
Domestic	~~W~~	6,611,396		19,724,402		20,021,125
Overseas		43,219		131,186		179,815
Total	~~W~~	6,654,615		19,855,588		20,200,940
^1^	Sum of property and equipment, intangible assets, investment properties and right-of-use assets.
---	---

66 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

28.	Related Party Transactions
(1)	The list of related party of the Group as of September 30, 2025, is as follows:
---	---
Relationship	Name of Entity
---	---
Associates and joint ventures	49 entities such as K Bank Inc., KIF Investment Fund, Megazone Cloud Corporation, and KIAMCO Data Center Development Real Estate General Private Placement Investment Blind Trusts
Others ^1^	Goody Studio Co., Ltd., Rebellion Inc., Digital Pharm Co., Ltd., Mastern No.127 Logispoint Daegu Co., KORAMKO No. 143 General Private Real Estate Investment Company
^1^	Included within the scope of related parties under Korean IFRS 1024 due to the presence of significant<br>influence, even though treated in accordance with Korean IFRS 1109.
---	---
(2)	Significant balances of receivables and payables in relations to transactions with related parties as of<br>September 30, 2025 and December 31, 2024, are as follows:
---	---
(In millions of Korean won)		September 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---
		Receivables				Payables
Relationship	Name of Entity	Tradereceivables		Otherreceivables		Tradepayables		Otherpayables		Lease<br><br><br>liabilities
Associates and joint ventures	K Bank, Inc.	~~W~~	1,274		69,051		—		896		—
	Little Big Pictures		235		1,396		—		30		—
	K-Realty 11th Real Estate Investment Trust<br>Company		57		1,482		—		—		2,120
	K-Realty No.3 Real Estate General Private<br>Placement Investment		84		—		—		300		100,464
	Others		4,027		1,808		419		1,789		—
Others	Others		182		68		—		—		—
	Total	~~W~~	5,859		73,805		419		3,015		102,584
(In millions of Korean won)		December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---
		Receivables				Payables
Relationship	Name of Entity	Tradereceivables		Otherreceivables		Tradepayables		Otherpayables		Lease<br><br><br>liabilities
Associates and joint ventures	K Bank, Inc.	~~W~~	778		147,868		—		83		—
	Little Big Pictures		235		1,396		—		2		—
	K-Realty 11th Real Estate Investment Trust<br>Company		113		1,283		—		—		4,588
	K-Realty No.3 Real Estate General Private<br>Placement Investment		7,911		—		—		—		—
	Others		2,439		1,628		1,302		1,326		—
Others	Others		138		240		1		—		—
	Total	~~W~~	11,614		152,415		1,303		1,411		4,588

67 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(3)	Significant transactions with related parties for the nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
(In millions of Korean won)		2025
---	---	---	---	---	---	---	---	---	---	---	---
		Sales				Purchases				Acquisitionof right-of-useassets
Relationship	Name of Entity	Operatingrevenue		Other<br><br><br>income		Operatingexpenses		Others^1^
Associates and joint ventures	K Bank, Inc.	~~W~~	24,785		—		21,748		—		—
	HD Hyundai Robotics Co., Ltd.		58		—		—		—		—
	K-Realty 11th Real Estate Investment Trust<br>Company		27		150		1,396		—
	K-Realty No.3 Real Estate General Private<br>Placement Investment Company		24,980		253		887		—		100,493
	Others ^2^		19,240		529		22,224		86		—
Others	Others		2		444		116		—		—
	Total	~~W~~	69,092		1,376		46,371		86		100,493
^1^	The amount of acquisition of property, equipment and others is included.
---	---
^2^	Transactions with Trustay Co., Ltd. before they were excluded from associates and joint ventures are included.<br>
---	---
(In millions of Korean won)		2024
---	---	---	---	---	---	---	---	---	---	---	---
		Sales				Purchases				Acquisitionof right-of-useassets
Relationship	Name of Entity	Operatingrevenue		Other<br><br><br>income		Operatingexpenses		Others^1^
Associates and joint ventures	K Bank, Inc.	~~W~~	23,786		—		14,628		—		—
	HD Hyundai Robotics Co., Ltd.		57		—		—		—		—
	K-Realty 11th Real Estate Investment Trust<br>Company		27		150		1,998		—		14
	K-Realty No.3 Real Estate General Private<br>Placement Investment Company		7,580		247		—		—		—
	Others ^2^		17,564		476		27,062		1		—
Others	Others		32		4		206		1,320		—
	Total	~~W~~	49,046		877		43,894		1,321		14
^1^	The amount of acquisition of property, equipment and others is included.
---	---
^2^	Transactions with LS Marine Solution Co., Ltd. and QTT Global (Group) Company Ltd. before they were excluded<br>from associates and joint ventures are included.”
---	---

68 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)		2025						2024
Relationship	Name of Entity	Financeincome		Financecosts		Dividend<br><br><br>Income		Financeincome		Financecosts		Dividend<br><br><br>income
Associates and joint ventures	K Bank, Inc.	~~W~~	997		—		1,150		5,581		—		—
	K-Realty 11th Real Estate Investment Trust<br>Company		—		62		398		—		140		400
	Others		—		789		5,444		—		—		4,769
	Total	~~W~~	997		851		6,992		5,581		140		5,169
(4)	Key management compensation for the nine-month periods ended September 30, 2025 and 2024, consists of:<br>
---	---
(In millions of Korean won)	2025		2024
---	---	---	---	---
Sort-term benefits	~~W~~	1,515		1,224
Post-employment benefits		210		145
Share-based compensation		714		883
Total	~~W~~	2,439		2,252

69 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(5)	Fund transactions with related parties for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
(In millions of Korean won)	2025
---	---	---	---	---	---	---
	Borrowing transactions^1^				Equitycontributionsin cash
	Borrowings		Repayments
Associates and joint ventures
IBK-KT Young Entrepreneurs MARS Investment Fund	~~W~~	—		—		6,000
K-Realty 11th Real Estate Investment Trust<br>Company		—		1,396		—
K Bank, Inc.		—		—		100,000
Others		—		817		7,367
Total	~~W~~	—		2,213		113,367
(In millions of Korean won)	2024
---	---	---	---	---	---	---
	Borrowing transactions^1^				Equitycontributionsin cash
	Borrowings		Repayments
Associates and joint ventures
IBK-KT Young Entrepreneurs MARS Investment Fund		—		—		6,000
K-Realty 11th Real Estate Investment Trust<br>Company		—		1,788		—
TeamFresh Corp. ^2^		—		—		52,841
Others		—		—		35,575
Others
Rebellions Co.,Ltd.		—		—		9,999
Total	~~W~~	—		1,788		104,415
^1^	Borrowing transactions include lease transactions.
---	---
^2^	The transaction involved acquiring redeemable convertible preference shares of TeamFresh Corp. and occurred in<br>the process of exchange with the shares of Lolab Co., Ltd. that were held.
---	---
(6)	The Group has an obligation according to invest agreements with related parties such as KIAMCO Data Center<br>Development Real Estate General Private Placement Investment Blind Trusts. As of September 30, 2025 the Group has a plan to make an additional investment of ~~W~~ 87,734 million.
---	---
(7)	As of September 30, 2025, the limit of the credit card contract provided by the Group to K Bank, Inc. is<br>~~W~~ 1,527 million (December 31, 2024: ~~W~~ 1,447 million).
---	---

70 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

29.	Fair Value
(1)	Fair Value of Financial Instruments by Category
---	---

Carrying amount and fair value of financial instruments by category as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025				December 31, 2024
	Carryingamount		Fair value		Carryingamount		Fair value
Financial assets
Cash and cash equivalents	~~W~~	3,890,295		^1^		3,716,680		^1^
Trade and other receivables
Financial assets at amortized cost ^2^		8,051,989		^1^		7,380,901		^1^
Financial assets at fair value through other comprehensive income		211,963		211,963		114,774		114,774
Other financial assets
Financial assets at amortized cost		1,022,231		^1^		962,653		^1^
Financial assets at fair value through profit or loss		1,176,185		1,176,185		1,029,926		1,029,926
Financial assets at fair value through other comprehensive income		2,107,610		2,107,610		1,665,368		1,665,368
Derivative financial assets for hedging		222,715		222,715		445,471		445,471
Total	~~W~~	16,682,988				15,315,773
Financial liabilities
Trade and other payables	~~W~~	7,587,448		^1^		7,214,174		^1^
Borrowings		10,532,262		10,569,394		10,520,690		10,423,619
Other financial liabilities
Financial liabilities at amortized cost		972,598		^1^		942,135		^1^
Financial liabilities at fair value through profit or loss		106,146		106,146		132,011		132,011
Derivative financial liabilities for hedging		6,626		6,626		3		3
Total	~~W~~	19,205,080				18,809,013
^1^	The Group did not conduct fair value estimation as the book amount is a reasonable approximation of the fair<br>value.
---	---
^2^	Lease receivables are excluded from fair value disclosure in accordance with Korean IFRS 1107.<br>
---	---

71 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(2)	Fair Value Hierarchy

Assets measured at fair value or for which the fair value is disclosed are categorized within the fair value hierarchy, and the defined levels are as follows:

•	Level 1: The quoted (unadjusted) price in active markets for identical assets or liabilities that an entity<br>can access at the measurement date.
•	Level 2: All inputs other than quoted prices included in Level 1 that are observable (either directly<br>that is, or indirectly that is, derived from prices) for the asset or liability.
---	---
•	Level 3: The unobservable inputs for the asset or liability.
---	---

Fair value hierarchy classifications of the financial assets and financial liabilities that are measured disclosed at fair value or its fair value is disclosed as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
	Level 1		Level 2		Level 3		Total
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	—		211,963		—		211,963
Other financial assets
Financial assets at fair value through profit or loss		3,085		390,806		782,294		1,176,185
Financial assets at fair value through other comprehensive income		1,660,893		6,399		440,318		2,107,610
Derivative financial assets for hedging		—		222,715		—		222,715
Total	~~W~~	1,663,978		831,883		1,222,612		3,718,473
Liabilities
Borrowings	~~W~~	—		10,569,394		—		10,569,394
Other financial liabilities
Financial liabilities at fair value through profit or loss		—		1,680		104,466		106,146
Derivative financial liabilities for hedging		—		6,626		—		6,626
Total	~~W~~	—		10,577,700		104,466		10,682,166

72 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	—		114,774		—		114,774
Other financial assets
Financial assets at fair value through profit or loss		5,620		181,694		842,612		1,029,926
Financial assets at fair value through other comprehensive income		1,317,120		5,418		342,830		1,665,368
Derivative financial assets for hedging		—		445,471		—		445,471
Total	~~W~~	1,322,740		747,357		1,185,442		3,255,539
Liabilities
Borrowings	~~W~~	—		10,423,619		—		10,423,619
Other financial liabilities
Financial liabilities at fair value through profit or loss		—		—		132,011		132,011
Derivative financial liabilities for hedging		—		3		—		3
Total	~~W~~	—		10,423,622		132,011		10,555,633

73 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(3)	Transfers Between Fair Value Hierarchy Levels of Recurring Fair Value Measurements
1)	Details of transfers between Level 1 and Level 2 of the fair value hierarchy for recurring fair value<br>measurements
---	---

There are no transfers between Level 1 and Level 2 of the fair value hierarchy for the recurring fair value measurements.

2)	Details of changes in Level 3 of the fair value hierarchy for recurring fair value measurements.<br>

Details of changes in Level 3 of the fair value hierarchy for the recurring fair value measurements are as follows for the nine-month periods ended September 30, 2025 and 2024:

(In millions of Korean won)	2025
	Financial assets						Financialliabilities
	Financialassets at<br><br><br>FVTPL			Financialassets at<br><br><br>FVOCI			Financialliabilities at<br><br><br>FVTPL
Beginning balance	~~W~~	842,612			342,830			132,011
Acquisition		24,069			100,000			—
Transfer		(3,515	)		220			—
Disposal		(45,629	)		(145	)		(381	)
Amount recognized in profit or loss		(35,243	)		—			(27,164	)
Amount recognized in other comprehensive income		—			(2,587	)		—
Ending balance	~~W~~	782,294			440,318			104,466
(In millions of Korean won)	2024
---	---	---	---	---	---	---	---	---	---
	Financial assets						Financialliabilities
	Financialassets at<br><br><br>FVTPL			Financialassets at<br><br><br>FVOCI			Financialliabilities at<br><br><br>FVTPL
Beginning balance	~~W~~	768,832			444,026			134,561
Acquisition		63,255			1,011			—
Transfer		49,299			(183	)		5,772
Disposal		(22,107	)		—			—
Amount recognized in profit or loss		11,511			—			(15,518	)
Amount recognized in other comprehensive income		—			601			—
Ending balance	~~W~~	870,790			445,455			124,815

74 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(4)	Valuation Technique

Valuation techniques and in the recurring, non-recurring fair value measurements and disclosed fair values categorized within Level 2 and Level 3 of the fair value hierarchy as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
	Fair value		Level		Major valuation techniques
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	211,963		2	DCF Model
Other financial assets
Financial assets at fair value through profit or loss		1,173,100		2,3	DCF Model,<br><br><br>Adjusted Net Asset Model,<br> <br>Market<br>Approach Model,<br> <br>T-F Model
Financial assets at fair value through other comprehensive income		446,717		2,3	DCF Model,<br><br><br>Hull-White model,<br> <br>LSMC<br>model
Derivative financial assets for hedging		222,715		2	DCF Model
Liabilities
Borrowings		10,569,394		2	DCF Model
Other financial liabilities
Financial liabilities at fair value through profit or loss		106,146		2,3	Binomial Option Pricing Model
Derivative financial liabilities for hedging		6,626		2	DCF Model

75 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024
	Fair value		Level		Major valuation techniques
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	114,774		2	DCF Model
Other financial assets
Financial assets at fair value through profit or loss		1,024,306		2,3	DCF Model,<br><br><br>Adjusted Net Asset Model,<br> <br>Market<br>Approach Model<br> <br>T-F Model
Financial assets at fair value through other comprehensive income		348,248		2,3	DCF Model,<br><br><br>Market Approach Model
Derivative financial assets for hedging		445,471		2	DCF Model
Liabilities
Borrowings		10,423,619		2	DCF Model
Other financial liabilities
Financial liabilities at fair value through profit or loss		132,011		3	Binomial Option Pricing Model
Derivative financial liabilities for hedging		3		2	DCF Model
(5)	Valuation Processes for Fair Value Measurements Categorized Within Level 3
---	---

The Group engages external experts that perform the fair value measurements required for financial reporting purposes. External experts report directly to the chief financial officer (CFO) and discuss the valuation processes and results with the CFO in line with the Group’s closing dates.

76 -

KT Corporation and Its Subsidiaries

Notes to the Consolidated Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

30.	Events After the Reporting Period
(1)	The Group decided on a quarterly dividend at the Board of Directors dated October 21, 2025, and the<br>details are as follows.
---	---
Type	Details
---	---
Dividend per share	~~W~~ 600 (Total dividend: ~~W~~ 144,657 million)
Dividend yield	1.2%
Dividend report date	November 5, 2025
Dividend pay date	November 20, 2025
(2)	As of September 30, 2025, the Group has notified customers affected by unauthorized small sum-payments and security incidents. The Group is carrying out its own customer care measures in connection with the incident. Implementing these customer care measures is expected to result in a decrease in<br>operating revenue and an increase in operating expenses; however, as of the end of the current quarter, the financial impact cannot be reasonably estimated.
---	---

77 -

KT Corporation

Separate Interim Financial Statements

September 30,2025 and 2024, and December 31, 2024

ATTACHMENT: INDEPENDENT AUDITOR’S REVIEW REPORT

KT Corporation

Index

September 30, 2025 and 2024, and December 31,2024

	Page(s)
Report on Review of Separate Interim Financial Statements		1 – 2
Separate Interim Financial Statements
Separate Interim Statements of Financial Position		3 – 4
Separate Interim Statements of Profit or Loss		5
Separate Interim Statements of Comprehensive Income		6
Separate Interim Statements of Changes in Equity		7
Separate Interim Statements of Cash Flows		8
Notes to the Separate Interim Financial Statements		9 – 59

Deloitte Anjin LLC<br> <br>9F., One<br>IFC,<br> <br>10, Gukjegeumyung-ro,<br><br><br>Youngdeungpo-gu, Seoul<br><br><br>07326, Korea<br> <br><br><br><br>Tel: +82 (2) 6676 1000<br> <br>Fax: +82 (2) 6674 2114<br><br><br>www.deloitteanjin.co.kr

Independent Auditor’s Review Report

[English Translation of Independent Auditor’s Review Report Originally Issued in Korean on November 14, 2025]

To the Shareholders and the Board of Directors of KT Corporation.

Reviewed Separate Interim Financial Statements

We have reviewed the accompanying separate interim financial statements of KT Corporation (the “Company”). The separate interim financial statements consist of the separate interim statement of financial position as of September 30, 2025, and the related separate interim statements of profit or loss and comprehensive income for the three-month and nine-month periods ended September 30, 2025 and 2024, and changes in equity and cash flows for the nine-month periods ended September 30, 2025 and 2024, all expressed in Korean won, and a summary of significant accounting policies and other explanatory notes.

Management’s Responsibility for the Separate Interim Financial Statements

Management is responsible for the preparation and fair presentation of these separate interim financial statements in accordance with Korean International Financial Reporting Standards (“K-IFRS”) No. 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of separate interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these separate interim financial statements based on our reviews.

We conducted our reviews in accordance with the Review Standards for Quarterly and Semi-annual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of separate interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing(“KSA”) and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

LOGO

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying separate interim financial statements referred to above are not presented fairly, in all material respects, the financial position as of September 30, 2025, and its financial performance and its cash flows for the nine-month period ended September 30, 2025 in accordance with K-IFRS No.1034 Interim Financial Reporting.

Other Matters

We have audited the separate statement of financial position of the Company as of December 31, 2024, and the related separate statements of profit or loss, comprehensive income, changes in equity and cash flows for the year then ended, which are not accompanying this report, in accordance with KSA. We expressed an unqualified opinion on those financial statements in our audit report dated March 13, 2025. The accompanying separate statement of financial position as of December 31, 2024, presented for comparative purposes, is not different from the audited separate statement of financial position above in all material respects.

LOGO

Seoul, Korea

November 14, 2025

Notice to Readers

KT Corporation

Separate Interim Statements of Financial Position

As of September 30, 2025 and December 31, 2024

(In millions of Korean won)		September 30, 2025		December 31, 2024
Assets
Current assets
Cash and cash equivalents	4,28	~~W~~	1,095,457	~~W~~	1,540,570
Trade and other receivables, net	4,5,28		3,186,455		2,904,846
Other financial assets	4,6,28		177,741		262,547
Inventories, net	7		155,247		224,678
Other current assets	8		2,512,937		1,959,960
Total current assets			7,127,837		6,892,601
Non-current assets
Trade and other receivables, net	4,5,28		319,895		309,106
Other financial assets	4,6,28		2,356,164		2,175,177
Property and equipment, net	9		10,748,722		11,477,680
Right-of-use<br>assets	16		824,387		896,299
Investment properties, net	9		1,126,536		1,114,379
Intangible assets, net	9		936,858		1,104,680
Investments in subsidiaries, associates and joint ventures	10		4,807,636		4,831,186
Other non-current assets	8		801,213		727,772
Total non-current assets			21,921,411		22,636,279
Total assets		~~W~~	29,049,248	~~W~~	29,528,880

KT Corporation

Separate Interim Statements of Financial Position

Asof September 30, 2025 and December 31, 2024

(In millions of Korean won)		September 30,2025			December 31,2024
Liabilities
Current liabilities
Trade and other payables	4,11,28	~~W~~	4,284,412		~~W~~	4,326,079
Borrowings	4,12,28		1,310,327			2,434,204
Current tax liabilities			122,333			32,057
Provisions	13,15		88,400			90,413
Deferred income	19		55,046			52,257
Other current liabilities	4,8,16		679,315			698,209
Total current liabilities			6,539,833			7,633,219
Non-current liabilities
Trade and other payables	4,11,28		219,378			479,416
Borrowings	4,12,28		5,499,530			5,437,715
Other financial liabilities	4,6,28		6,654			28
Net defined benefit liability	14		133,807			51,082
Provisions	13		96,551			96,059
Deferred income	19		190,707			136,382
Deferred tax liabilities			828,867			728,863
Other non-current liabilities	4,8,16		471,111			545,976
Total non-current liabilities			7,446,605			7,475,521
Total liabilities			13,986,438			15,108,740
Equity
Share capital			1,564,499			1,564,499
Share premium			1,440,258			1,440,258
Retained earnings	17		12,301,648			11,717,929
Accumulated other comprehensive income			393,859			86,478
Other components of equity	18		(637,454	)		(389,024	)
Total equity			15,062,810			14,420,140
Total liabilities and equity		~~W~~	29,049,248		~~W~~	29,528,880

The above separate interim statements of financial position should be read in conjunction with the accompanying notes.

KT Corporation

Separate Interim Statements of Profit or Loss

For the three-month and nine-month periods ended September 30, 2025 and 2024

		Three-Month and Nine-Month Periods Ended September 30
(In millions of Korean won, except per share amounts)	Notes	2025					2024
		Three-month			Nine-month		Three-month			Nine-month
Operating revenue	19	~~W~~	5,108,964		~~W~~	14,563,794	~~W~~	4,764,983		~~W~~	14,008,107
Operating expenses	20		4,768,096			13,354,077		4,426,125			12,916,618
Operating profit			340,868			1,209,717		338,858			1,091,489
Other income	21		63,241			141,430		104,332			290,456
Other expenses	21		21,471			72,025		39,975			126,166
Finance income	22		(6,935	)		390,916		(71,859	)		310,942
Finance costs	22		(4,513	)		419,070		(76,657	)		283,445
Profit before income tax			380,216			1,250,968		408,013			1,283,276
Income tax expense	23		90,595			237,904		98,221			304,953
Profit for the period		~~W~~	289,621		~~W~~	1,013,064	~~W~~	309,792		~~W~~	978,323
Earnings per share
Basic earnings per share	24	~~W~~	1,200		~~W~~	4,158	~~W~~	1,260		~~W~~	3,978
Diluted earnings per share	24		1,200			4,157		1,260			3,977

The above separate interim statementsof profit or loss should be read in conjunction with the accompanying notes.

KT Corporation

Separate Interim Statements of Comprehensive Income

For the three-month and nine-month periods ended September 30, 2025 and 2024

			Three-Month and Nine-Month Periods Ended September 30
(In millions of Korean won)	Notes		2025						2024
			Three-month			Nine-month			Three-month			Nine-month
Profit for the period			~~W~~	289,621		~~W~~	1,013,064		~~W~~	309,792		~~W~~	978,323
Other comprehensive income (loss)
Items that will not be reclassified to profit or loss:
Remeasurements of the net defined benefit Assets		14		274			4,093			608			2,179
Valuation gains (losses) on equity instruments at fair value through other comprehensive<br>income				106,610			254,610			(63,458	)		163,951
Items that are or may be subsequently reclassified to profit or loss:
Valuation gains (losses) on cash flow hedges		6		134,738			(32,393	)		(82,009	)		55,463
Other comprehensive income from cash flow hedges reclassified to profit or loss				(117,808	)		66,260			102,188			(44,403	)
Other comprehensive income (loss) for the period, net of tax				123,814			292,570			(42,671	)		177,190
Total comprehensive income for the period			~~W~~	413,435		~~W~~	1,305,634		~~W~~	267,121		~~W~~	1,155,513

The above separate interim statementsof comprehensive income should be read in conjunction with the accompanying notes.

KT Corporation

Separate Interim Statements of Changes in Equity

For the nine-month periods ended September 30, 2025 and 2024

(In millions of Korean won)		Share capital		Sharepremium		Retainedearnings			Accumulatedothercomprehensiveincome		Othercomponentsof equity			Total equity
Balance as of January 1, 2024		~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	12,544,425		~~W~~	64,229	~~W~~	(569,872	)	~~W~~	15,043,539
Comprehensive income
Profit for the period			—		—		978,323			—		—			978,323
Valuation gains (losses) on financial assets at fair value through other comprehensive<br>income	6		—		—		(11,041	)		174,992		—			163,951
Remeasurements of net defined benefit assets	14		—		—		2,179			—		—			2,179
Valuation gains on cash flow hedges	6		—		—		—			11,060		—			11,060
Total comprehensive income for the period			—		—		969,461			186,052		—			1,155,513
Transactions with owners
Dividends paid			—		—		(482,970	)		—		—			(482,970	)
Interim Dividends paid			—		—		(245,772	)		—		—			(245,772	)
Acquisition of treasury stock			—		—		—			—		(27,100	)		(27,100	)
Disposal of treasury stock			—		—		—			—		3,760			3,760
Retirement of treasury stock			—		—		(205,956	)		—		205,956			—
Others			—		—		—			—		(2,898	)		(2,898	)
Subtotal			—		—		(934,698	)		—		179,718			(754,980	)
Balance as of September 30, 2024		~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	12,579,188		~~W~~	250,281	~~W~~	(390,154	)	~~W~~	15,444,072
Balance as of January 1, 2025		~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	11,717,929		~~W~~	86,478	~~W~~	(389,024	)	~~W~~	14,420,140
Comprehensive income
Profit for the period			—		—		1,013,064			—		—			1,013,064
Valuation gains (losses) on financial assets at fair value through other comprehensive<br>income	6		—		—		(18,904	)		273,514		—			254,610
Remeasurements of net defined benefit assets	14		—		—		4,093			—		—			4,093
Valuation gains on cash flow hedges	6		—		—		—			33,867		—			33,867
Total comprehensive income for the period			—		—		998,253			307,381		—			1,305,634
Transactions with owners
Dividends paid			—		—		(122,836	)		—		—			(122,836	)
Interim Dividends paid			—		—		(291,641	)		—		—			(291,641	)
Appropriation of retained earnings related to loss on disposal of treasury stock	18		—		—		(57	)		—		57			—
Acquisition of treasury stock			—		—		—			—		(250,000	)		(250,000	)
Disposal of treasury stock							—					4,075			4,075
Others			—		—		—			—		(2,562	)		(2,562	)
Subtotal			—		—		(414,534	)		—		(248,430	)		(662,964	)
Balance as of September 30, 2025		~~W~~	1,564,499	~~W~~	1,440,258	~~W~~	12,301,648		~~W~~	393,859	~~W~~	(637,454	)	~~W~~	15,062,810

The above separate interim statementsof changes in equity should be read in conjunction with the accompanying notes.

KT Corporation

Separate Interim Statements of Cash Flows

For the nine-month periods ended September 30, 2025 and 2024

			Nine-Month Periods Ended September 30
(In millions of Korean won)	Notes		2025			2024
Cash flows from operating activities
Cash generated from operations		25	~~W~~	3,257,307		~~W~~	3,549,954
Interest paid				(196,161	)		(211,869	)
Interest received				125,246			150,207
Dividends received				90,227			92,753
Income tax paid				(83,801	)		(174,930	)
Net cash inflow from operating activities				3,192,818			3,406,115
Cash flows from investing activities
Collection of loans				23,230			25,630
Disposals of financial assets at amortized cost				—			297,569
Disposals of financial assets at fair value through profit or loss				5,493			18,019
Disposals of financial assets at fair value through other comprehensive income				2,297			34,299
Disposals of investments in subsidiaries, associates and joint ventures				35,826			27,674
Disposals of property and equipment				32,309			33,610
Disposals of intangible assets				3,942			2,116
Disposals of<br>right-of-use assets				663			118
Loans granted				(17,863	)		(22,336	)
Acquisitions of financial assets at fair value through profit or loss				(8,538	)		(15,367	)
Acquisitions of investments in subsidiaries, associates and joint ventures				(5,803	)		(75,670	)
Acquisitions of property and equipment				(1,726,595	)		(1,619,104	)
Acquisitions of intangible assets				(281,596	)		(277,132	)
Acquisitions of<br>right-of-use assets				(53	)		(683	)
Net cash outflow from investing activities				(1,936,688	)		(1,571,257	)
Cash flows from financing activities
Proceeds from borrowings				2,094,024			698,700
Settlement of derivative contracts (inflow)				132,774			—
Dividends paid				(414,477	)		(728,742	)
Repayments of borrowings				(3,017,204	)		(1,174,038	)
Acquisition of treasury stock				(250,000	)		(27,100	)
Settlement of derivative contracts (outflow)				(6,036	)		(855	)
Decrease in lease liabilities				(240,046	)		(236,112	)
Net cash outflow from financing activities		26		(1,700,965	)		(1,468,147	)
Effect of exchange rate change on cash and cash equivalents				(278	)		(25	)
Net increase (decrease) in cash and cash equivalents				(445,113	)		366,686
Cash and cash equivalents
Beginning of the period				1,540,570			1,242,005
End of the period			~~W~~	1,095,457		~~W~~	1,608,691

The above separate interim statementsof cash flows should be read in conjunction with the accompanying notes.

KT Corporation

Notes to the Separate Interim Financial Statements

As of September 30, 2025 and 2024, and December 31, 2024

1.	General Information

KT Corporation (the “Company”) commenced operations on January 1, 1982, when it spun off from the Korea Communications Commission (formerly the Korean Ministry of Information and Communications) to provide telecommunication services and to engage in the development of advanced communications services under the Act of Telecommunications of Korea. The address of the Company’s registered office is 90, Buljeonga-ro, Bundang-gu, Seongnam City, Gyeonggi Province, Korea.

On October 1, 1997, upon the announcement of the Act on the Management of Government-Invested Institutions and the Privatization Law, the Company became a government-funded institution under the Commercial Code of Korea.

On December 23, 1998, the Company’s shares were listed on the Korea Exchange.

On May 29, 1999, the Company issued 24,282,195 additional shares and issued American Depository Shares (ADS), which represent new shares and 20,813,311 government-owned shares, on the New York Stock Exchange. On July 2, 2001, additional ADS, representing 55,502,161 government-owned shares, were issued on the New York Stock Exchange.

In 2002, the Company acquired the entire government-owned shares in accordance with the Korean government’s privatization plan. As of September 30, 2025, the Korean government does not own any shares in the Company.

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

2.	Material Accounting Policies
2.1	Basis of Preparation
---	---

The Company maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS” or “K-IFRS”). The accompanying separate interim financial statements have been condensed, restructured, and translated into English from the Korean language financial statements.

The separate interim financial statements of the Company for the nine-month period ended September 30, 2025, have been prepared in accordance with Korean IFRS 1034 Interim Financial Reporting and are separate financial statements in accordance with K-IFRS 1027. In order to understand the interim financial statements, the annual financial statements as of December 31, 2024 prepared in accordance with K-IFRS should be used together.

2.2	Changes in Accounting Policies and Disclosures

(1) New and amended standards and interpretations adopted by the Company

The Company has applied the following standards and interpretations for the first time for their annual reporting period commencing January 1, 2025.

K-IFRS 1021 The Effects of Changes in Foreign Exchange Rates and K-IFRS 1101 First-time adoption of Korean InternationalFinancial Reporting Standards (Amendment) - Lack of Exchangeability

The amendments specify how to assess whether a currency is exchangeable, and how to determine the exchange rate when it is not.

10 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(2) New and revised standards and interpretations in issue but not yet effective oradopted by the Company

At the date of authorization of these financial statements, the Company has not applied the following new and amended K-IFRS standards that have been issued but are not yet effective:

K-IFRS 1109 Financial Instruments and K-IFRS 1107 Financial Instruments: Disclosures – Classification and measurement requirements of financial instruments

The amendments clarify the conditions related to the discharge of financial liability before the settlement date when settling such financial liabilities using an electronic payment system. They further specify an interest feature, a contingent feature, financial assets with non-recourse features and contractually linked instruments which should be considered in assessing whether contractual cash flows of a financial asset are consistent with a basic lending arrangement. Furthermore, the amendments include additional disclosure requirements for investments in equity instruments designated at fair value through other comprehensive income and contractual terms that could change the timing or amount of contractual cash flows. The amendments are applied retrospectively for annual reporting periods beginning on or after January 1, 2026 with earlier application permitted.

K-IFRS 1109 Financial Instruments – Derecognition of lease liabilities and Transaction price

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

K-IFRS 1110 Consolidated Financial Statements – Determination of ‘de facto agent’

The amendments have amended K-IFRS 10: B74 to use less conclusive language and to clarify that the relationship described in K-IFRS 10: B74 is just one example of a circumstance in which judgement is required to determine whether a party is acting as a de facto agent.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

K-IFRS 1101 First-time adoption of Korean International Financial Reporting Standards – Hedging accounting by a first-time adopter

The amendments have improved the consistency of the wording of K-IFRS 1101: B6 with the requirements for hedge accounting in K-IFRS 1109 and added cross-references to K-IFRS 1109:6.4.1 to improve the understandability of K-IFRS 1101.

11 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

K-IFRS 1107 Financial Instruments: Disclosures – Gain or loss on derecognition

The amendments have updated the obsolete cross-reference in K-IFRS 1107: B38 and aligned the wording of this paragraph with the terms used in K-IFRS.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

K-IFRS 1007 Statement of Cash Flows: Cost method

The amendments have replaced the term ‘cost method’ with ‘at cost’ in K-IFRS 1007:37.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted.

The Company is reviewing the impact of the above-listed amendments on the financial statements.

2.3	Accounting Policies

The material accounting policies and methods of computation used in the presentation of the separate interim financial statements are consistent with those of the separate financial statements for the year ended December 31, 2024, except for the changes resulting from the application of amendments and enactments of standards described in Note 2.2 (1) and as detailed below.

2.3.1	Income Tax Expense

3.	Critical Accounting Estimates and Assumptions

The preparation of financial statements requires the Company to make estimates and assumptions concerning the future. Management also needs to exercise judgement in applying the Company’s accounting policies. Estimates and assumptions are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events under the given circumstances. As the resulting accounting estimates will, by definition, rarely equal the actual results, they involve a significant risk of resulting in material adjustments.

12 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

4.	Financial Instruments by Category

Financial instruments by category as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
Financial assets	Financialassets atamortized cost		Financial assets<br><br><br>at FVTPL		Financial assetsat FVOCI		Derivativesused forhedging		Total
Cash and cash equivalents	~~W~~	1,095,457		—		—		—		1,095,457
Trade and other receivables		3,294,387		—		211,963		—		3,506,350
Other financial assets		80,465		431,829		1,800,896		220,715		2,533,905
(In millions of Korean won)	September 30, 2025
Financial liabilities	Financialliabilities atamortized cost		Financial liabilities<br><br><br>at FVTPL		Derivativesused for hedging		Others		Total
Trade and other payables^1^	~~W~~	4,185,665		—		—		—		4,185,665
Borrowings		6,809,857		—		—		—		6,809,857
Other financial liabilities		—		28		6,626		—		6,654
Lease liabilities		—		—		—		691,499		691,499
^1^	Amounts related to employee benefit plans are excluded in Trade and other payables.
---	---
(In millions of Korean won)	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
Financial assets	Financialassets atamortized cost		Financialassets atFVTPL		Financial assetsat FVOCI		Derivativesused forhedging		Total
Cash and cash equivalents	~~W~~	1,540,570		—		—		—		1,540,570
Trade and other receivables		3,099,178		—		114,774		—		3,213,952
Other financial assets		80,465		456,224		1,458,891		442,144		2,437,724
(In millions of Korean won)	December 31, 2024
Financial liabilities	Financialliabilities atamortized cost		Financialliabilitiesat FVTPL		Derivativesused for hedging		Others		Total
Trade and other payables^1^	~~W~~	4,315,375		—		—		—		4,315,375
Borrowings		7,871,919		—		—		—		7,871,919
Other financial liabilities		—		28		—		—		28
Lease liabilities		—		—		—		759,743		759,743
^1^	Amounts related to employee benefit plans are excluded in Trade and other payables.
---	---

13 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

5.	Trade and Other Receivables
(1)	Trade and other receivables as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Total amounts		Provision forimpairment			Present valuediscount			Carryingamount
Current assets
Trade receivables	~~W~~	3,115,636		(292,626	)		(7,750	)		2,815,260
Other receivables		407,495		(34,738	)		(1,562	)		371,195
Total	~~W~~	3,523,131		(327,364	)		(9,312	)		3,186,455
Non-current assets
Trade receivables	~~W~~	234,378		(927	)		(12,612	)		220,839
Other receivables		105,472		(314	)		(6,102	)		99,056
Total	~~W~~	339,850		(1,241	)		(18,714	)		319,895
(In millions of Korean won)	December 31, 2024
	Total amounts		Provision forimpairment			Present valuediscount			Carryingamount
Current assets
Trade receivables	~~W~~	2,840,837		(290,502	)		(8,749	)		2,541,586
Other receivables		399,200		(34,376	)		(1,564	)		363,260
Total	~~W~~	3,240,037		(324,878	)		(10,313	)		2,904,846
Non-current assets
Trade receivables	~~W~~	221,495		(927	)		(14,150	)		206,418
Other receivables		109,723		(430	)		(6,605	)		102,688
Total	~~W~~	331,218		(1,357	)		(20,755	)		309,106

14 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(2)	Details of other receivables as of September 30, 2025 and December 31, 2024, are as follows:<br>
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Loans	~~W~~	31,800			37,005
Receivables		262,477			246,303
Accrued income		8,709			1,812
Refundable deposits		202,317			215,634
Less: Provision for impairment		(35,052	)		(34,806	)
Total	~~W~~	470,251			465,948
(3)	The maximum exposure to credit risks for trade and other receivables is the carrying amount of each class of<br>receivables mentioned above as of September 30, 2025.
---	---
(4)	The Company classifies a certain portion of the trade receivables as financial assets at fair value through<br>other comprehensive income, based on business model for managing the asset and the cash flow characteristics of the contract.
---	---

15 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

6.	Other Financial Assets and Liabilities
(1)	Details of other financial assets and liabilities as of September 30, 2025 and December 31, 2024, are<br>as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Other financial assets
Financial assets at amortized cost ^1^	~~W~~	80,465			80,465
Financial assets at fair value through profit or loss ^2^		431,829			456,224
Financial assets at fair value through other comprehensive income		1,800,896			1,458,891
Derivatives used for hedging		220,715			442,144
Less: Non-current		(2,356,164	)		(2,175,177	)
Current	~~W~~	177,741			262,547
Other financial liabilities
Financial liabilities at fair value through profit or loss	~~W~~	28			28
Derivatives used for hedging		6,626			—
Less: Non-current		(6,654	)		(28	)
Current	~~W~~	—			—
^1^	As of September 30, 2025, the Company’s financial instruments amount to ~~W~~<br>30,464 million (December 31, 2024: ~~W~~ 30,464 million) and consist of checking account deposits, time deposits, and others which are subject to withdrawal restrictions.
---	---
^2^	As of September 30, 2025, the Company provided investment in Korea Software Financial Cooperative and<br>others amounting to ~~W~~ 1,136 million (December 31, 2024: ~~W~~ 1,136 million) as collateral in exchange for the payment guarantee provided by the Korea Software Financial Cooperative and others.<br>
---	---
(2)	Financial Assets at fair value through profit or loss
---	---
1)	Details of financial assets at fair value through profit or loss as of September 30, 2025 and<br>December 31, 2024, are as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Debt instruments	~~W~~	431,829			456,224
Less: Non-current		(431,829	)		(456,224	)
Current	~~W~~	—			—

16 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

2)	The maximum exposure to credit risks debt instruments of financial assets at fair value through profit or loss<br>is the carrying amount of each class of debt instruments above as of September 30, 2025.
(3)	Financial Assets at fair value through other comprehensive income
---	---
1)	Details of financial assets at fair value through other comprehensive income as of September 30, 2025 and<br>December 31, 2024, are as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Equity instruments (Listed)	~~W~~	1,659,881			1,317,876
Equity instruments (Unlisted)		141,015			141,015
Less: Non-current		(1,800,896	)		(1,458,891	)
Current	~~W~~	—			—
2)	Upon disposal of these equity instruments, any balance within the other comprehensive income is reclassified<br>not to profit or loss, but to retained earnings. Upon disposal of these debt instruments, the remaining balance of the accumulated other comprehensive income is reclassified to profit or loss.
---	---
(4)	Derivatives used for hedging
---	---
1)	Details of valuation of derivatives used for hedging as of September 30, 2025 and December 31, 2024,<br>are as follows:
---	---
(In millions of Korean won)	September 30, 2025						December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---
	Assets			Liabilities			Assets			Liabilities
Currency swap ^1^	~~W~~	220,715			6,626			442,144			—
Less: Non-current		(123,435	)		(6,626	)		(260,057	)		—
Current	~~W~~	97,280			—			182,087			—
^1^	The currency swap contract is to hedge the risk of volatility in cash flow from the borrowings due to changes<br>in interest rate and foreign exchange rate and the expected maximum period for the Company to be exposed to risks of cash flow volatility by hedged items is until September 7, 2034.
---	---

17 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

2)	Details of valuation gains and losses from derivatives for risk hedging purposes for the nine-month periods<br>ended September 30, 2025 and 2024, are as follows:
(In millions of Korean won)	2025						2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Type of transaction	Valuationgain		Valuationloss		Othercomprehensiveloss^1^		Valuationgain		Valuationloss		Othercomprehensiveloss^1^
Currency swap	~~W~~	8,115		87,984		45,284		61,112		—		14,718
^1^	The amounts directly reflected in equity are before adjustments of deferred income tax.
---	---
3)	The effective portion recognized in profit or loss related to cash flow hedges amounts to valuation loss of<br>~~W~~ 43,651 million as other comprehensive income for the nine-month periods ended September 30, 2025 (nine-month period ended September 30, 2024: valuation gains of ~~W~~ 74,278 million). The ineffective<br>portion recognized in profit or loss related to cash flow hedges amounts to valuation gains of ~~W~~ 485 million as current profit or loss for the nine-month periods ended September 30, 2025 (nine-month period ended<br>September 30, 2024: ~~W~~ 1,618 million). In addition, the valuation loss reclassified from other comprehensive income to profit or loss amounts to ~~W~~ 88,935 million for the nine-month periods ended<br>September 30, 2025 (nine-month period ended September 30, 2024: valuation gains of ~~W~~ 59,560 million).
---	---
(5)	Financial Liabilities at fair value through profit or loss
---	---
1)	Details of financial liabilities at fair value through profit or loss as of September 30, 2025 and<br>December 31, 2024, are as follows:
---	---
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Derivative liabilities held for trading ^1^	~~W~~	28		28
^1^	Derivative liabilities recognized in relation to acquisition of Epsilon Global Communications Pte. Ltd. (Note<br>15).
---	---

18 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

7.	Inventories

Inventories as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025							December 31, 2024
	Acquisition cost		Valuationallowance			Carryingamount		Acquisitioncost		Valuationallowance			Carryingamount
Merchandise	~~W~~	182,195		(26,948	)		155,247		285,892		(61,214	)		224,678

Cost of inventories recognized as expenses for the nine-month periods ended September 30, 2025 amounts to ~~W~~ 2,252,502 million (for the nine-month period ended September 30, 2024: ~~W~~ 1,930,432 million), and reversal valuation loss on inventory amounts to ~~W~~ 34,266 million for the nine-month periods ended September 30, 2025 (for the nine-month periods ended September 30, 2024: ~~W~~24,216 million).

8.	Other Assets and Liabilities

Other assets and liabilities as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
Other assets
Advance payments	~~W~~	39,752		52,289
Prepaid expenses		225,788		97,714
Contract costs		2,174,012		1,802,221
Contract assets		874,598		735,508
Less: Non-current		(801,213	)	(727,772	)
Current	~~W~~	2,512,937		1,959,960
Other liabilities
Advances received ^1^	~~W~~	188,658		215,354
Withholdings		42,554		25,362
Unearned revenue		2,157		828
Lease liabilities		691,499		759,743
Contract liabilities		225,558		242,898
Less: Non-current		(471,111	)	(545,976	)
Current	~~W~~	679,315		698,209
^1^	The amounts include adjustments arising from adoption of Korean IFRS 1115 Revenue from Contracts withCustomers (Note 19).
---	---

19 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

9.	Property and Equipment, Investment Properties, and Intangible Assets
(1)	Changes in property and equipment for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning, net	~~W~~	11,477,680			11,492,776
Acquisition and capital expenditure		1,396,565			1,558,337
Disposal and termination		(51,471	)		(45,868	)
Depreciation		(1,836,953	)		(1,807,568	)
Transfer from (to) investment properties		(47,318	)		46,650
Others ^1^		(189,781	)		(58,735	)
Ending, net	~~W~~	10,748,722			11,185,592
^1^	Amounts include transfers to intangible assets.
---	---
(2)	Changes in investment properties for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning, net	~~W~~	1,114,379			1,191,592
Depreciation		(35,161	)		(33,669	)
Transfer from (to) property and equipment		47,318			(46,650	)
Ending, net	~~W~~	1,126,536			1,111,273
(3)	As of September 30, 2025, the Company (Lessor) has entered into a<br>non-cancellable operating lease contract for real estate. The future minimum lease payments under this contract amount to ~~W~~ 124,934 million for one year or less, ~~W~~<br>248,901 million for more than one year and less than five years, ~~W~~ 437,758 million for over five years, and ~~W~~ 811,593 million in total.
---	---

20 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(4)	Changes in intangible assets for the nine-month periods ended September 30, 2025 and 2024, are as follows:<br>
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning, net	~~W~~	1,104,680			1,487,848
Acquisition and capital expenditure ^1^		198,421			64,506
Disposal and termination		(8,833	)		(9,549	)
Amortization		(357,410	)		(353,223	)
Ending, net	~~W~~	936,858			1,189,582
^1^	Amounts include transfers from property and equipment.
---	---
(5)	The carrying amount of goodwill and memberships assessed to have indefinite useful life and, therefore, not<br>subject to amortization is ~~W~~ 65,057 million (December 31, 2024: ~~W~~ 65,057 million) and ~~W~~ 56,483 million (December 31, 2024: ~~W~~ 54,717 million), respectively as of<br>September 30, 2025.
---	---
10.	Investments in Subsidiaries, Associates and Joint Ventures
---	---
(1)	Carrying amounts in investments in subsidiaries, associates and joint ventures as of September 30, 2025<br>and December 31, 2024, is as follows:
---	---
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Subsidiaries	~~W~~	4,396,042		4,419,598
Associates and joint ventures		411,594		411,588
Total	~~W~~	4,807,636		4,831,186

21 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

1)	Investments in subsidiaries as of September 30, 2025 and December 31, 2024, are as follows:<br>
(In millions of Korean won)						Carrying amount
---	---	---	---	---	---	---	---	---	---
	Location		Percentage ofownership (%)			September 30,2025		December 31,2024
KT Estate Inc.		Korea		100.0	%	~~W~~	1,084,522		1,084,522
KT Sat Co., Ltd.		Korea		100.0	%		390,530		390,530
KTCS Corporation ^1^		Korea		8.4	%		6,427		6,427
KTIS Corporation ^1^		Korea		33.3	%		30,633		30,633
KT Skylife Co., Ltd.		Korea		50.5	%		311,696		311,696
BC Card Co., Ltd.		Korea		69.5	%		633,004		633,004
KT M&S Co., Ltd.		Korea		100.0	%		26,914		26,914
KT Alpha Co., Ltd.		Korea		70.5	%		130,924		130,924
KT Telecop Co., Ltd.		Korea		92.7	%		138,541		138,541
KT Nasmedia, Inc. (formerly. Nasmedia, Co., Ltd.) ^1^		Korea		44.1	%		23,051		23,051
KTDS Co., Ltd.		Korea		91.6	%		19,616		19,616
KTGDH Co., Ltd.		Korea		100.0	%		2,745		2,745
KT Sports Co., Ltd.		Korea		52.6	%		27,327		27,327
KT M Mobile Co., Ltd.		Korea		100.0	%		102,237		102,237
KT Service Bukbu Co., Ltd.		Korea		67.3	%		3,873		3,873
KT Service Nambu Co., Ltd.		Korea		94.8	%		16,901		10,160
KT Strategic Investment Fund No.3		Korea		86.7	%		—		130
PlayD Co., Ltd. ^2^		Korea		—			—		20,000
KT MOS Bukbu Co., Ltd.		Korea		100.0	%		6,334		6,334
KT MOS Nambu Co., Ltd.		Korea		98.4	%		4,267		4,267
Next Connect PFV		Korea		100.0	%		24,250		24,250
KT Strategic Investment Fund No.5		Korea		95.0	%		17,575		19,000
KT Engineering Co., Ltd.		Korea		59.8	%		28,000		28,000
KT Studio Genie Co., Ltd.		Korea		90.9	%		283,620		283,620
KT ES Pte. Ltd.		Singapore		68.8	%		16,003		16,003
Altimedia Corporation		Korea		100.0	%		22,000		22,000
KT Cloud Co., Ltd.		Korea		92.6	%		901,504		901,504
kt netcore Co. Ltd		Korea		100.0	%		61,000		61,000
kt p&m Co. Ltd		Korea		100.0	%		10,000		10,000
Others							72,548		81,290
Total						~~W~~	4,396,042		4,419,598
^1^	As of September 30, 2025, although the sum of percentage of ownership of the Company and its subsidiaries<br>is less than 50% ownership in these entities, these entities are included in investments in subsidiaries due to the dispersion of other shareholders excluding the Company and voting patterns at previous shareholders’ meetings.<br>
---	---
^2^	As of September 30, 2025, this entity is excluded from subsidiaries due to loss of control.<br>
---	---

22 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

2)	Investments in associates and joint ventures as of September 30, 2025 and December 31, 2024, are as<br>follows:
(In millions of Korean won)	Location		Percentage ofownership (%)			Carrying amount
---	---	---	---	---	---	---	---	---	---
				September 30,2025				December 31,2024
KIF Investment Fund		Korea		33.3	%	~~W~~	115,636		115,636
HD Hyundai Robotics Co., Ltd. ^1^		Korea		10.0	%		50,000		50,000
Megazone Cloud Corporation ^1^		Korea		6.7	%		130,001		130,001
KT-DSC Creative Economy<br>YouthStart-up Investment Fund ^1^		Korea		17.1	%		1,665		2,055
Others							114,292		113,896
Total							411,594		411,588
^1^	The Company holds less than 20% interest in the investees as of September 30, 2025, but the investments<br>are classified as investments in associates as the Company exerts significant influence over the operational and financial policies.
---	---
(2)	Changes in investments in subsidiaries, associates and joint ventures for the nine-month periods ended<br>September 30, 2025 and 2024, are as follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning	~~W~~	4,831,186			4,796,606
Acquisition		5,803			75,670
Disposal ^1^		(29,353	)		(41,820	)
Others		—			(3,600	)
Ending	~~W~~	4,807,636			4,826,856
^1^	As of September 30, 2024, the Company exchanged subsidiary corporate investment shares in Lolab Co., Ltd.<br>for redeemable convertible preferred shares of TeamFresh Corp.
---	---

23 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

11.	Trade and Other Payables
(1)	Details of trade and other payables as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Current liabilities
Trade payables	~~W~~	814,062		517,879
Other payables		3,470,350		3,808,200
Total	~~W~~	4,284,412		4,326,079
Non-current liabilities
Other payables	~~W~~	219,378		479,416
(2)	Details of other payables as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Non-trade payable	~~W~~	2,081,643			2,917,086
Accrued expenses		1,146,216			901,219
Operating deposits		365,673			375,105
Others		96,196			94,206
Less: Non-current		(219,378	)		(479,416	)
Current	~~W~~	3,470,350			3,808,200

24 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

12.	Borrowings
(1)	Details of borrowings as of September 30, 2025 and December 31, 2024, are as follows:<br>
---	---
1)	Debentures
---	---
(In millions of Korean won and foreign currencies in thousands)			September 30, 2025		December 31, 2024
---	---	---	---	---	---	---
Type	Maturity	Annual interest rates	Foreigncurrency		Foreigncurrency
MTNP notes ^1^	Sep. 7, 2034	6.500%	100,000	140,220	100,000	147,000
MTNP notes	Jul. 18, 2026	2.500%	400,000	560,880	400,000	588,000
MTNP notes	Sep. 1, 2025	—	—	—	400,000	588,000
MTNP notes	Jan. 21, 2027	1.375%	300,000	420,660	300,000	441,000
MTNP notes	Aug. 8, 2025	—	—	—	500,000	735,000
MTNP notes	Feb. 2, 2028	4.125%	500,000	701,100	500,000	735,000
MTNP notes	Mar. 5, 2027	1.217%	23,300,000	219,889	—	—
MTNP notes	Mar. 7, 2028	1.367%	6,700,000	63,230	—	—
MTNP notes	Jan. 3, 2029	4.375%	500,000	701,100	—	—
MTNP notes ^2^	Sep. 29, 2028	Compounded SOFR<br> <br>(3M)+0.66%	200,000	280,440	—	—
The 183-3rd Public bond	Dec. 22, 2031	4.270%	—	160,000	—	160,000
The 184-3rd Public bond	Apr. 10, 2033	3.170%	—	100,000	—	100,000
The 186-4th Public bond	Jun. 26, 2034	3.695%	—	100,000	—	100,000
The 187-4th Public bond	Sep. 2, 2034	3.546%	—	100,000	—	100,000
The 188-2nd Public bond	Jan. 29, 2025	—	—	—	—	240,000
The 188-3rd Public bond	Jan. 29, 2035	2.706%	—	50,000	—	50,000
The 189-3rd Public bond	Jan. 28, 2026	2.203%	—	100,000	—	100,000
The 189-4th Public bond	Jan. 28, 2036	2.351%	—	70,000	—	70,000
The 190-3rd Public bond	Jan. 30, 2028	2.947%	—	170,000	—	170,000
The 190-4th Public bond	Jan. 30, 2038	2.931%	—	70,000	—	70,000
The 191-3rd Public bond	Jan. 15, 2029	2.160%	—	110,000	—	110,000
The 191-4th Public bond	Jan. 14, 2039	2.213%	—	90,000	—	90,000
The 192-3rd Public bond	Oct. 11, 2029	1.622%	—	50,000	—	50,000
The 192-4th Public bond	Oct. 11, 2039	1.674%	—	110,000	—	110,000
The 193-2nd Public bond	Jun. 17, 2025	—	—	—	—	70,000
The 193-3rd Public bond	Jun. 17, 2030	1.608%	—	20,000	—	20,000
The 193-4th Public bond	Jun. 15, 2040	1.713%	—	60,000	—	60,000
The 194-2nd Public bond	Jan. 27, 2026	1.452%	—	140,000	—	140,000
The 194-3rd Public bond	Jan. 27, 2031	1.849%	—	50,000	—	50,000
The 194-4th Public bond	Jan. 25, 2041	1.976%	—	80,000	—	80,000
The 195-2nd Public bond	Jun. 10, 2026	1.806%	—	80,000	—	80,000
The 195-3rd Public bond	Jun. 10, 2031	2.168%	—	40,000	—	40,000
The 196-1st Public bond	Jan. 27, 2025	—	—	—	—	270,000
The 196-2nd Public bond	Jan. 27, 2027	2.637%	—	100,000	—	100,000

All values are in US Dollars.

25 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won and foreign currencies in thousands)			September 30, 2025					December 31, 2024
Type	Maturity	Annual interestrates	Foreigncurrency		Korean won			Foreigncurrency		Korean won
The 196-3rd Public bond	Jan. 27, 2032	2.741%		—	~~W~~	30,000			—	~~W~~	30,000
The 197-1st Public bond	Jun. 27, 2025	—		—		—			—		280,000
The 197-2nd Public bond	Jun. 29, 2027	4.188%		—		120,000			—		120,000
The 198-1st Public bond	Jan. 10, 2025	—		—		—			—		70,000
The 198-2nd Public bond	Jan. 12, 2026	3.869%		—		150,000			—		150,000
The 198-3rd Public bond	Jan. 12, 2028	3.971%		—		80,000			—		80,000
The 199-1st Public bond	Jul. 11, 2025	—		—		—			—		85,000
The 199-2nd Public bond	Jul. 10, 2026	4.146%		—		160,000			—		160,000
The 199-3rd Public bond	Jul. 12, 2028	4.221%		—		155,000			—		155,000
The 200-1st Public bond	Feb. 27, 2026	3.552%		—		120,000			—		120,000
The 200-2nd Public bond	Feb. 26, 2027	3.608%		—		200,000			—		200,000
The 200-3rd Public bond	Feb. 27, 2029	3.548%		—		80,000			—		80,000
The 201-1st Public bond	Dec. 2, 2027	2.899%		—		130,000			—		130,000
The 201-2nd Public bond	Dec. 2, 2029	2.918%		—		70,000			—		70,000
The 201-3rd Public bond	Dec. 2, 2034	3.057%		—		100,000			—		100,000
	Subtotal					6,332,519					7,494,000
Less: Current portion						(1,309,834	)				(2,333,711	)
Discount on bonds						(23,155	)				(23,068	)
	Total				~~W~~	4,999,530				~~W~~	5,137,221
^1^	As of September 30, 2025, the Company has outstanding notes in the amount of USD 100 million with<br>fixed interest rates under Medium Term Note Program (“MTNP”) registered on the Singapore Stock Exchange, which allowed the issuance of notes of up to USD 2,000 million. However, the MTN program has been terminated since 2007.<br>
---	---
^2^	As of September 30, 2025, the interest rate for Daily SOFR rate is approximately 4.24%.<br>
---	---
2)	Long-Term Borrowings
---	---
(In millions of Korean won and foreign currencies in thousands)
---	---	---	---	---	---	---	---	---	---	---
Financial institution	Type	Maturity		Annual<br><br><br>interestrates			September 30,2025		December 31,<br><br><br>2024
Export-Import Bank of Korea	Inter-Korean Cooperation Fund ^1^		Jul. 10, 2026		1.000	%	~~W~~	493		987
	Long-term commercial papers		Feb. 26, 2027		3.020	%		100,000		—
CA-CIB
	Long-term commercial papers		May. 28, 2027		3.820	%		100,000		100,000
JPM	Long-term commercial papers		Feb. 28, 2025		—			—		100,000
	Long-term commercial papers		Feb. 26, 2027		2.980	%		100,000		—
DBS	Long-term commercial papers		May. 28, 2027		3.820	%		100,000		100,000
	Long-term commercial papers		Aug. 9, 2027
Shinhan Bank					3.390	%		50,000		100,000
	Long-term commercial papers		Feb. 26, 2027		3.390	%		50,000		—
	Subtotal							500,493		400,987

26 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won and foreign currencies in thousands)
Financial institution	Type	Maturity	Annual<br><br><br>interestrates	September 30,<br><br><br>2025			December 31,<br><br><br>2024
	Less: Current portion				(493	)		(100,493	)
	Net			~~W~~	500,000			300,494
^1^	The above Inter-Korean Cooperation Fund is repayable in installments over 13 years after a 7-year grace period.
---	---
(2)	Repayment schedule of the Company’s debentures and borrowings including the portion of current<br>liabilities as of September 30, 2025, is as follows:
---	---
(In millions of Korean won)	Bonds
---	---	---	---	---	---	---	---	---	---	---
	In localcurrency		In foreigncurrency		Sub-<br><br><br>total		Borrowings		Total
Oct.1, 2025 ~ Sep. 30, 2026	~~W~~	750,000		560,880		1,310,880		493		1,311,373
Oct.1, 2026 ~ Sep. 30, 2027		420,000		640,549		1,060,549		500,000		1,560,549
Oct.1, 2027 ~ Sep. 30, 2028		535,000		1,044,770		1,579,770		—		1,579,770
Oct.1, 2028 ~ Sep. 30, 2029		190,000		701,100		891,100		—		891,100
After Oct.1, 2029		1,350,000		140,220		1,490,220		—		1,490,220
Total	~~W~~	3,245,000		3,087,519		6,332,519		500,493		6,833,012

27 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

13.	Provisions

Changes in provisions for the nine-month period ended September 30, 2025 and 2024, are as follows:

(In millions of Korean won)	2025
	Litigation			Restoration cost			Others			Total
Beginning balance	~~W~~	21,590			125,150			39,732			186,472
Increase (transfer)		27			3,081			8,284			11,392
Usage		(28	)		(4,741	)		(7,822	)		(12,591	)
Reversal		—			(322	)		—			(322	)
Ending balance	~~W~~	21,589			123,168			40,194			184,951
Less: Current		(21,589	)		(27,232	)		(39,579	)		(88,400	)
Non-current		—			95,936			615			96,551
(In millions of Korean won)	2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Litigation			Restoration cost			Others			Total
Beginning balance	~~W~~	25,879			115,747			40,728			182,354
Increase (transfer)		26			9,436			(151	)		9,311
Usage		(1,222	)		(762	)		(210	)		(2,194	)
Reversal		(3,093	)		(552	)		—			(3,645	)
Ending balance	~~W~~	21,590			123,869			40,367			185,826
Less: Current		(21,590	)		(22,619	)		(40,367	)		(84,576	)
Non-current		—			101,250			—			101,250

28 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

14.	Net Defined Benefit Liabilities
(1)	The amounts recognized in the statements of financial position as of September 30, 2025 and<br>December 31, 2024, are determined as follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Present value of defined benefit obligations	~~W~~	1,425,045			1,344,701
Fair value of plan assets		(1,291,238	)		(1,293,619	)
Liabilities, net	~~W~~	133,807			51,082
(2)	Changes in the defined benefit obligations for the nine-month periods ended September 30, 2025 and 2024,<br>are as follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning	~~W~~	1,344,701			1,548,588
Current service cost		^73,547^			84,265
Interest expense		34,041			46,235
Benefits paid		(27,244	)		(98,754	)
Ending	~~W~~	1,425,045			1,580,334
(3)	Changes in the fair value of plan assets for the nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Beginning	~~W~~	1,293,619			1,609,178
Interest income		29,739			48,125
Remeasurements on plan assets		(253	)		1,054
Benefits paid		(31,867	)		(95,940	)
Others		—			37,900
Ending	~~W~~	1,291,238			1,600,317
(4)	Amounts recognized in the separate statements of profit or loss for the nine-month periods<br>ended September 30, 2025 and 2024, are as follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Current service cost	~~W~~	73,547			84,265
Net interest expense		4,302			(1,890	)
Account transfers		(9,106	)		(11,727	)
Total expense	~~W~~	68,743			70,648

29 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

15.	Commitments and Contingencies
(1)	As of September 30, 2025, major Covenants with local financial institutions are as follows:<br>
---	---
(In millions of Korean won and<br><br><br>foreign currencies in thousands)	Financial institution	Limit
---	---	---	---	---
Bank overdraft	Kookmin Bank and others	~~W~~	360,000	—
Working capital loan	Korea Development Bank and others		1,130,050	100,000
Inter-Korean Cooperation Fund	Export-Import Bank of Korea		37,700	493
Economic Cooperation Business Insurance	Export-Import Bank of Korea		3,240	1,732
Collateralized loan backed by electronic accounts<br>receivable-trade	Kookmin Bank and others		347,000	106,735
Plus electronic notes payable	Industrial Bank of Korea		50,000	995
Derivatives transaction limit	Korea Development Bank and others		1,920,000	USD 1,920,000
	Shinhan Bank and others		30,000,000	JPY 30,000,000
			KRW 1,927,990	209,955
Total			1,920,000	1,920,000
			30,000,000	30,000,000

All values are in US Dollars.

(2)	As of September 30, 2025, guarantees received from financial institutions are as follows:<br>
(In millions of Korean won and<br><br><br>foreign currencies in thousands)	Warranty details	Limit
---	---	---	---
Hana Bank	Comprehensive credit line	~~W~~	2,900
			USD 8,700
Shinhan Bank	Guarantee for payment in foreign currency and others		USD 33,416
Kookmin Bank	Guarantee for payment in foreign currency		USD 3,186
Woori Bank	Guarantee for payment in foreign currency		USD 5,000
Korea Software Financial Cooperative	Advance payment/other guarantee and others		1,115,456
Information & Communication Financial Cooperative	Advance payment/other guarantee		700,000
Seoul Guarantee Insurance Company	Performance guarantee and others		24,566
	Total		KRW 1,842,922
			USD 50,302

30 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(3)	The Company is jointly and severally obligated with KT Sat Co., Ltd. to pay KT Sat Co., Ltd.’s<br>liabilities incurred prior to its spin-off. As of September 30, 2025, the Company and KT Sat Co., Ltd. are jointly and severally liable for reimbursement of ~~W~~ 428 million (as of<br>December 31, 2024: ~~W~~ 433 million).
(4)	For the nine-month period ended September 30, 2025, the Company entered into agreements with<br>Securitization Specialty Companies (2025: First 5G 79th to 82nd Securitization Specialty Co., Ltd., 2024: First 5G 73rd to 78th Securitization Specialty Co., Ltd.) and disposed of its trade receivables related to handset sales. The Company also made<br>asset management agreements with each securitization specialty company and in accordance with the agreement, the Company will receive asset management fees upon liquidation of the securitization specialty company.
---	---
(5)	As of September 30, 2025, the Company is a defendant in 102 lawsuits with a total claimed amount of<br>~~W~~ 137,796 million (as of December 31, 2024: ~~W~~ 124,384 million). As of September 30, 2025, litigation provisions of ~~W~~ 21,589 million for pending lawsuits and unasserted claims are<br>recorded as liabilities for potential loss in the ordinary course of business. The final outcomes of the cases cannot be estimated as of September 30, 2025 (Note 13).
---	---
(6)	Under the agreement of bond issuance and borrowings, the Company is required to maintain certain financial<br>ratios such as debt-to-equity ratio, use the funds for the designated purpose and report to the creditors periodically. The covenant also contains restrictions on<br>provision of additional collateral and disposal of certain assets.
---	---
(7)	As of September 30, 2025, the Company participates in Algerie Sidi Abdela new town development consortium<br>(percentage of ownership: 2.5%) and has joint liability with other consortium participants.
---	---
(8)	As of September 30, 2025, the contract amount of properties and equipment and intangible assets<br>acquisition agreements made but not yet recognized amounts to ~~W~~ 339,873 million (as of December 31, 2024: ~~W~~ 344,566 million).
---	---
(9)	The Company entered into an agreement with financial investors of Epsilon Global Communications Pte., Ltd.<br>regarding the acquisition of shares contract. If certain conditions are not met in the future as disclosed in the terms and conditions of the agreement, financial investors may exercise the Tag-Along Right,<br>Drag-Along Right, or the right to sell shares for the convertible preferred shares they hold (Note 6).
---	---
(10)	The Company has an obligation for additional contributions as per agreement to Storm Ventures FUND VII and<br>others. As of September 30, 2025, remaining amounts of USD 27,650 thousand and JPY 160,000 thousand will be invested through the Capital Call method in the future.
---	---
(11)	The Company has an obligation of ~~W~~470,160 million (100%) to provide financial support as<br>an operating investor during the operating period with respect to K Defense Co., Ltd. established in accordance with the Private Investment Act on Social Infrastructure.
---	---

31 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(12)	The Company entered into a stock sale contract with HYUNDAI MOBIS and HYUNDAI MOTOR COMPANY. If the Company<br>intends to dispose of the acquired stocks to a third party after a certain period has elapsed from the date of the contract, HYUNDAI MOBIS and HYUNDAI MOTOR COMPANY may exercise a preferential purchase right to designate a buyer with priority.<br>
(13)	The Company entered into an agreement with equity investors who participated in the equity acquisition contract<br>of kt Cloud Co., Ltd. According to this agreement, if conditions per the agreement are met, the financial investor may exercise a Tag-Along or a Put-Option to the<br>Company in the future. In relation to this contract, the Company and the financial investor may settle mutual profits if there is a difference between the final public offering price and the preliminary public offering price.
---	---
(14)	As of September 30, 2025, the Company has the obligation of paying Minimum Guarantee as utilizing product<br>bundling of Tving Co., Ltd., and the right to be paid a certain proportion of the excess as per agreement.
---	---
(15)	As of September 30, 2025, the Company is in the process of exercising a put option on all of its shares in<br>KT Rwanda Networks Ltd. under the shareholders’ agreement with the Rwandan government.
---	---
(16)	Details of investment properties provided as collateral as September 30, 2025 and 2024, are as follows:<br>
---	---
(in millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---	---
Collateral	Carryingamount		Securedamount		Related account		Relatedamount		Mortgagee
Land and buildings	~~W~~	118,757		36,017		Deposit received		30,165		leaseholder
(in millions of Korean won)	December 31, 2024
Collateral	Carryingamount		Securedamount		Related account		Relatedamount		Mortgagee
Land and buildings	~~W~~	177,229		35,573		Deposit received		29,899		leaseholder
(17)	The Company has established a supplier finance agreement with certain suppliers, under which participating<br>suppliers may receive early payment of invoices issued to the Company through the Company’s external finance provider. The Company pays the finance provider in accordance with the usual payment terms to settle the debt. As of<br>September 30, 2025, all financial liabilities subject to the supplier finance agreement are included in trade and other payables, and the carrying amount is ~~W~~22,919 million (December 31, 2024: ~~W~~55,815<br>million). None of this amount has been received by the suppliers from the finance provider. There were no significant non-cash changes in the carrying amount of the trade and other payables subject to the<br>Company’s supplier finance agreement.
---	---
(18)	As of September 30, 2025, the Group became aware of damage caused by unauthorized small sum-payments and security incidents, and is currently under investigation by the Personal Information Protection Commission regarding the timing and circumstances of the incident. As the investigation is ongoing,<br>the Group cannot reasonably estimate any obligations that may arise in connection with this matter.
---	---

32 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

16.	Leases

Information for leases when the Company acts as a lessee is as follows. Information on leases when the Company acts as a lessor is described in Note 9.

(1)	The separate statements of financial position show the following amounts relating to leases:<br>
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Right-of-use<br>assets
Property and buildings	~~W~~	760,975		800,961
Machinery and communication line facilities		48,948		38,977
Others		14,464		56,361
Total	~~W~~	824,387		896,299
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Lease liabilities ^1^
Current	~~W~~	261,031		259,747
Non-current		430,468		499,996
Total	~~W~~	691,499		759,743
^1^	Included in the line item other current liabilities and non-current<br>liabilities in the separate statements of financial position (Note 8).
---	---

For the nine-month periods ended September 30, 2025 and 2024, right-of-use assets related to leases increased by ~~W~~ 213,680 million and ~~W~~ 212,916 million, respectively.

(2)	The separate statements of profit or loss show the following amounts relating to leases:
(In millions of Korean won)	2025		2024
---	---	---	---	---
Depreciation of<br>right-of-use assets
Property and building	~~W~~	221,118		214,554
Machinery and communication line facilities		18,524		18,976
Others		7,032		23,834
Total	~~W~~	246,674		257,364
Interest expense relating to lease liabilities		17,689		27,045
Expense relating to Short-term leases		1,250		3,403
Expense relating to leases of low-value assets that are<br>not short-term leases		8,069		7,834

The total cash outflow for leases for the nine-month periods ended September 30, 2025 and 2024 is ~~W~~ 266,058 million and ~~W~~ 280,116 million, respectively.

33 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

17.	Retained Earnings

Details of retained earnings as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
Legal reserve ^1^	~~W~~	782,249	782,249
Voluntary reserves ^2^		4,651,362	4,651,362
Unappropriated retained earnings		6,868,037	6,284,318
Total	~~W~~	12,301,648	11,717,929
^1^	The Commercial Code of the Republic of Korea requires the Company to appropriate, as a legal reserve, an amount<br>equal to a minimum of 10% of cash dividends paid until such reserve equals 50% of its issued share capital. The reserve is not available for the payment of cash dividends but may be transferred to share capital with the approval of the<br>Company’s Board of Directors or used to reduce accumulated deficits, if any, with the ratification of the Company’s majority shareholders.
---	---
^2^	The reserves of research and development of human resources in other surplus reserves are separately<br>accumulated on disposal of retained earnings on tax filing adjustments when calculating income taxes in accordance with regulations of Tax Reduction and Exemption Control Act of Korea. Reversal of the reserves according to the relevant tax law can<br>be paid out as dividends.
---	---

34 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

18.	Other Components of Equity
(1)	The Company’s other components of equity as of September 30, 2025 and December 31, 2024, are as<br>follows:
---	---
(In millions of Korean won)	September 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Treasury stock	~~W~~	(461,135	)		(215,210	)
Gain(Loss) on disposal of treasury stock		(93	)		(57	)
Share-based compensation		4,688			7,106
Other		(180,914	)		(180,863	)
Total	~~W~~	(637,454	)		(389,024	)
(2)	As of September 30, 2025 and December 31, 2024, details of treasury stock, are as follows:<br>
---	---
	September 30, 2025		December 31, 2024
---	---	---	---	---
Number of shares (in shares)		10,926,622		6,188,739
Amount (in millions of Korean won)	~~W~~	461,135		215,210

Treasury stock held as of September 30, 2025, is expected to be used for stock compensation for the Company’s directors, employees, and for other purposes.

35 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

19.	Revenue from Contracts with Customers and Relevant Contract Assets and Liabilities
(1)	The Company has recognized the following amounts relating to revenue in the separate statement of profit or<br>loss:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Revenue from contracts with customers	~~W~~	5,042,482		14,371,984		4,702,510		13,828,806
Revenue from other sources		66,482		191,810		62,473		179,301
Total	~~W~~	5,108,964		14,563,794		4,764,983		14,008,107
(2)	Operating revenues for the three- and nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Services provided	~~W~~	4,179,922		12,356,115		4,069,040		12,157,646
Sales of goods		929,042		2,207,679		695,943		1,850,461
Total	~~W~~	5,108,964		14,563,794		4,764,983		14,008,107

Revenue from services provided is recognized over time and revenue from sales of goods is recognized at a point in time.

(3)	The Contract assets, liabilities and deferred revenue recognized in relation to the revenues from contracts<br>with customers, are as follows:
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Contract assets^1^	~~W~~	1,020,287		863,884
Contract liabilities^1^		243,388		268,958
Deferred revenue^2^		83,044		74,275
^1^	The Company recognized contract assets of ~~W~~ 145,689 and contract liabilities of<br>~~W~~ 17,830 million for long-term construction contracts as of September 30, 2025 (As of December 31, 2024: contract assets and liabilities of 128,376 million and ~~W~~ 26,060 million,<br>respectively). The Company recognizes contract assets as trade receivables and other receivables, and contract liabilities as other current liabilities.
---	---
^2^	Deferred revenue related to government grants is excluded.
---	---

36 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(4)	The contract costs recognized as assets are as follows:
(In millions of Korean won)	September 30, 2025		December 31, 2024
---	---	---	---	---
Incremental cost of obtaining a contract	~~W~~	2,019,703		1,650,500
Costs to fulfil a contract		154,309		151,721
Total	~~W~~	2,174,012		1,802,221

The Company recognized ~~W~~ 1,432,034 million as operating expenses for the nine-month period ended September 30, 2025 (nine-month period ended September 30, 2024: ~~W~~ 1,378,068 million) related to contract cost assets.

(5)	For the three- and nine-month periods ended September 30, 2025 and 2024, revenue recognized from contract<br>liabilities and deferred revenue carried-forward, is as follows:
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Revenue recognized from the beginning balance of contract liabilities
Allocation of the transaction price	~~W~~	34,770		132,235		38,343		145,994
Deferred revenue of joining/installment fees		9,343		30,807		8,673		28,898
Total	~~W~~	44,113		163,042		47,016		174,892

37 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

20.	Operating Expenses
(1)	Operating expenses for the three- and nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-<br><br><br>month		Nine-<br><br><br>month		Three-month		Nine-<br><br><br>month
Employee benefit cost	~~W~~	492,783		1,416,002		534,586		1,706,618
Depreciation		609,485		1,836,144		607,051		1,811,257
Depreciation of<br>right-of-use assets		82,149		246,674		86,997		257,364
Amortization of intangible assets		121,303		353,598		111,789		346,467
Commissions		595,224		1,709,143		491,112		1,439,334
Interconnection charges		100,532		298,029		107,890		319,981
International interconnection fees		33,492		94,998		39,315		102,600
Purchase of inventories		918,837		2,148,805		597,807		1,802,681
Changes of inventories		11,497		69,431		139,551		103,534
Sales commission		669,840		1,951,150		623,889		1,863,071
Service cost		243,475		674,897		214,627		615,753
Purchase of contents		180,439		533,515		177,134		526,725
Utilities		110,345		295,274		108,165		297,153
Taxes and dues		50,388		149,546		50,866		152,038
Rent		31,071		91,806		30,681		89,859
Insurance premium		14,685		37,760		15,840		39,955
Installation fee		120,577		357,756		118,748		346,796
Advertising expenses		36,849		97,403		38,996		96,722
Research and development expenses		79,545		221,687		53,965		171,589
Allowance for bad debts		11,056		34,933		11,945		37,242
Others		254,524		735,526		265,171		789,879
Total	~~W~~	4,768,096		13,354,077		4,426,125		12,916,618
(2)	Details of employee benefits for the three- and nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Salaries & Wages	~~W~~	456,143		1,309,615		490,111		1,572,225
Post-employment benefits (defined benefit plan)		23,161		68,743		23,308		70,648
Post-employment benefits (defined contribution plan)		9,844		27,124		14,919		43,322
Share-based payment		1,616		4,982		1,751		3,489
Others		2,019		5,538		4,497		16,934
Total	~~W~~	492,783		1,416,002		534,586		1,706,618

38 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

21.	Other Income and Other Expenses
(1)	Other income for the three- and nine-month periods ended September 30, 2025 and 2024, are as follows:<br>
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Gain on disposal of property and equipment	~~W~~	2,564		12,739		8,721		31,000
Gain on disposal of<br>right-of-use assets		1,068		2,039		525		2,084
Gain on disposal of intangible assets		—		1,641		—		99
Compensation on impairment of property and equipment		43,643		58,324		40,712		106,312
Gain on disposal of investments in subsidiaries and associates		—		6,725		34,421		65,303
Dividends received		10,820		43,967		2,267		41,413
Gain on government subsidies		357		474		9,102		23,309
Others		4,789		15,521		8,584		20,936
Total	~~W~~	63,241		141,430		104,332		290,456
(2)	Other expenses for the three- and nine-month periods ended September 30, 2025 and 2024, are as follows:<br>
---	---
(In millions of Korean won)	2025				2024
---	---	---	---	---	---	---	---	---
	Three-month		Nine-month		Three-month		Nine-month
Loss on disposal of property and equipment	~~W~~	8,361		31,514		10,702		43,260
Loss on disposal of<br>right-of-use assets		883		2,119		148		1,421
Loss on disposal of intangible assets		1,834		6,531		415		7,532
Loss on disposal of investments in subsidiaries and associate		251		251		—		3,154
Donations		1,080		4,740		30		2,715
Others		9,062		26,870		28,680		68,084
Total	~~W~~	21,471		72,025		39,975		126,166

39 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

22.	Finance Income and Costs
(1)	Details of financial income for the three- and nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)	2025					2024
---	---	---	---	---	---	---	---	---	---	---
	Three-month			Nine-month		Three-month			Nine-month
Interest income	~~W~~	46,471			139,137		53,152			166,925
Gain on foreign currency transactions		74,187			80,537		1,842			6,608
Gain on foreign currency translation		(161,311	)		98,242		(3,355	)		15,712
Gain on derivative transactions		11,784			11,784		—			—
Gain on valuation of derivatives		8,115			8,115		(136,699	)		61,112
Dividends income		13,819			51,802		11,691			51,339
Gain on disposal of financial instruments		—			140		1,510			6,500
Gain on valuation of financial instruments		—			1,159		—			2,746
Total	~~W~~	(6,935	)		390,916		(71,859	)		310,942
(2)	Details of financial costs for the three- and nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025					2024
---	---	---	---	---	---	---	---	---	---	---
	Three-month			Nine-month		Three-month			Nine-month
Interest expenses	~~W~~	57,608			186,451		61,807			200,368
Loss on foreign currency transactions		2,639			8,441		1,401			5,404
Loss on foreign currency translation		18,655			41,692		(142,285	)		62,865
Loss on derivative transactions		74,791			78,515		129			129
Loss on valuation of derivatives		(159,395	)		87,984		(193	)		—
Loss on disposal of trade receivables		1,189			4,650		1,149			4,736
Loss on valuation of financial instruments		—			10,144		—			7,057
Loss on disposal of financial instruments		—			1,193		1,335			2,886
Total	~~W~~	(4,513	)		419,070		(76,657	)		283,445

40 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

23.	Income Tax Expense

24.	Earnings per Share

Basic earnings per share for the three- and nine-month periods ended September 30, 2025 and 2024, are calculated as follows:

(1)	Basic Earnings per Share

	2025				2024
	Three-month		Nine-month		Three-month		Nine-month
Profit attributable to ordinary shares<br><br><br>(In millions of Korean won)	~~W~~	289,621		1,013,064		309,792		978,323
Weighted average number of ordinary shares outstanding<br><br><br>(In number of shares)		241,382,469		243,633,295		245,825,775		245,937,306
Basic earnings per share<br><br><br>(In Korean won)	~~W~~	1,200		4,158		1,260		3,978

41 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(2)	Diluted Earnings per Share

Diluted earnings per share from operations are calculated by adjusting the weighted average number of ordinary shares outstanding assuming that all dilutive potential ordinary shares are converted into ordinary shares. The Company has dilutive potential ordinary shares from other share-based compensation.

	2025				2024
	Three-month		Nine-month		Three-month		Nine-month
Profit attributable to ordinary shares<br><br><br>(In millions of Korean won)	~~W~~	289,621		1,013,064		309,792		978,323
Diluted profit attributable to ordinary shares<br><br><br>(In millions of Korean won)		289,621		1,013,064		309,792		978,323
Number of dilutive potential ordinary shares outstanding<br><br><br>(In number of shares)		11,767		47,171		99,797		77,760
Weighted average number of ordinary shares used for calculating diluted earnings per share<br><br><br>(In number of shares)		241,394,236		243,680,466		245,925,572		246,015,066
Diluted earnings per share<br><br><br>(In Korean won)	~~W~~	1,200		4,157		1,260		3,977

42 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

25.	Cash Generated from Operations
(1)	Cash flows from operating activities for the nine-month periods ended September 30, 2025 and 2024, are as<br>follows:
---	---
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
1. Profit for the period	~~W~~	1,013,064			978,323
2. Adjustments for:
Income tax expense		237,904			304,953
Interest income		(139,137	)		(166,925	)
Interest expense		186,451			200,368
Dividend income		(95,769	)		(92,752	)
Depreciation		1,872,114			1,841,237
Amortization of intangible assets		357,410			353,223
Depreciation of<br>right-of-use assets		246,674			257,364
Provisions for post-employment benefits (defined benefits)		77,849			82,375
Allowance for bad debts		44,947			53,909
Gain on disposal of investments in subsidiaries, associates and joint ventures		(6,474	)		(62,149	)
Loss on disposal of property and equipment		18,775			12,260
Loss on disposal of intangible assets		4,890			7,433
Loss (Gain) on disposal of<br>right-of-use assets		80			(663	)
Loss (Gain) on foreign currency translation		(56,550	)		47,153
Loss (Gain) on valuation of derivatives, net		146,600			(60,983	)
Loss on valuation of financial assets at fair value through profit or loss		8,985			4,311
Loss (Gain) on disposal of financial assets at fair value through profit or loss		1,046			(3,935	)
Others		(82,710	)		(13,331	)
3. Changes in operating assets and liabilities
Increase in trade receivables		(313,318	)		(72,053	)
Decrease (Increase) in other receivables		(13,630	)		29,573
Increase in other current assets		(552,977	)		(109,274	)
Decrease (Increase) in other non-current assets		(73,439	)		5,958
Decrease in inventories		103,484			126,381
Increase in trade payables		296,847			51,216
Decrease in other payables		(39,788	)		(100,871	)
Decrease in other current liabilities		(20,178	)		(65,116	)
Decrease in other non-current liabilities		(5,336	)		(6,712	)
Decrease in provisions		(1,658	)		(189	)
Increase in deferred revenue		57,115			4,680
Payment of post-employment benefits (defined benefits)		(228,701	)		(234,439	)
Decrease in plan assets		212,737			178,629
4. Cash generated from operations (1+2+3)	~~W~~	3,257,307			3,549,954

43 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(2)	Significant transactions not affecting cash flows for the nine-month periods ended September 30, 2025 and<br>2024, are as follows:
(In millions of Korean won)	2025			2024
---	---	---	---	---	---	---
Reclassification of the current portion of borrowings	~~W~~	1,387,662			2,270,605
Reclassification of<br>construction-in-progress to property and equipment		1,437,090			1,317,113
Change of other payables relating to acquisition of property and equipment		(329,599	)		(57,780	)
Change of other payables relating to acquisition of intangible assets		(272,955	)		(272,955	)
Reclassification of other payables from net defined benefit liabilities		(20,587	)		(15,096	)
Increase in financial assets due to stock exchange		—			52,841

44 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

26.	Changes in Liabilities Arising from Financing Activities

Details of changes in liabilities arising to cash flows that have been classified as financing activities or will be classified as financing activities in the separate statement of cash flows for the nine-month periods ended September 30, 2025 and 2024 are as follows:

(In millions of Korean won)	2025
							Others
	Beginning			Cash flows			Acquisition		Changes inFX rate			Fair valuechange		Otherchanges			Ending
Borrowings	~~W~~	7,871,919			(923,180	)		—		(77,522	)		—		(61,360	)		6,809,857
Lease liabilities		759,743			(240,046	)		210,775		—			—		(38,973	)		691,499
Derivative liabilities		—			—			—		—			6,626		—			6,626
Derivative assets		(442,144	)		126,738			—		—			39,341		55,349			(220,716	)
Total	~~W~~	8,189,518			(1,036,488	)		210,775		(77,522	)		45,967		(44,984	)		7,287,266
(In millions of Korean won)	2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
							Others
	Beginning			Cash flows			Acquisition		Changes inFX rate			Fair valuechange			Otherchanges			Ending
Borrowings	~~W~~	7,559,933			(475,338	)		—		61,699			—			4,768			7,151,062
Lease liabilities		851,610			(236,112	)		219,088		—			—			(41,693	)		792,893
Derivative liabilities		23,076			(855	)		—		—			—			(22,221	)		—
Derivative assets		(156,774	)		—			—		(59,494	)		(16,402	)		22,418			(210,252	)
Total	~~W~~	8,277,845			(712,305	)		219,088		2,205			(16,402	)		(36,728	)		7,733,703

45 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

27.	Related Party Transactions
(1)	The list of related parties of the Company as of September 30, 2025, is as follows:
---	---
Relationship	Name of Entity
---	---
Subsidiaries	79 entities including KT Estate Inc., KT Skylife Co., Ltd., BC Card Co., Ltd.
Associates and joint ventures	49 entities including K Bank Inc., KIF Investment Fund, Megazone Cloud Corporation
Others^1^	Goody Studio Co., Ltd., Rebellion Inc., Digital Pharm Co., Ltd., Mastern No.127 Logispoint Daegu Co., Ltd., KORAMKO No. 143 General Private Real Estate Investment Company, etc.
^1^	Included within the scope of related parties under Korean IFRS 1024 due to the presence of significant<br>influence, even though treated in accordance with Korean IFRS 1109
---	---
(2)	The amount of the installment handset sales receivable inherited from KTIS Corporation, KTCS Corporation, KT<br>Telecop Co., Ltd., KT M&S Co., Ltd. and KT Service Nambu Co., Ltd. for the year ended September 30, 2025 is ~~W~~ 381,835 million.
---	---
(3)	The Company has entered into an additional agreement in relation to providing communication service in<br>wholesale with KT M Mobile Co., Ltd. in connection with the agreement, the Company offsets all or partial receivables against payables for joining mobile telecommunication services and usage of network arising from telecommunication operations.<br>
---	---

46 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(4)	Significant balances of receivables and payables in relation to transaction with related parties as of<br>September 30, 2025 and December 31, 2024, are as follows:
(In millions of Korean won)	September 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Receivables						Payables
	Tradereceivables		Loans andothers		Otherreceivables		Trade<br>payables		Otherpayables		Leaseliabilities
Subsidiaries
KT Telecop Co., Ltd.	~~W~~	699		—		115		—		29,870		—
KTCS Corporation		—		—		7,026		—		58,170		1
KTIS Corporation		12,636		—		—		—		51,726		—
KT Service Bukbu Co., Ltd.		20		—		7		—		21,543		—
KT Service Nambu Co., Ltd.		—		—		45		—		38,953		—
KT Skylife Co., Ltd.		27,582		—		7,140		9,106		7,711		—
KTDS Co., Ltd.		1,123		—		1,585		—		99,148		—
KT Estate Inc.		—		—		42,364		—		33,227		8,392
KT ENA Co., Ltd. (formerly. Skylife TV Co., Ltd.)		382		—		—		—		2,637		—
BC Card Co., Ltd. ^1^		524		—		7,164		—		12,428		5
KT Sat Co., Ltd.		1,090		—		—		—		1,199		—
KT Alpha Co., Ltd.		5,660		—		1,728		—		8,378		—
KT Commerce Inc.		17		—		85		2,523		12,767		11,926
KT M&S Co., Ltd.		65		—		213		—		58,397		—
KT GENIE Music Corporation. (formerly. GENIE Music Corporation.)		—		—		17,778		—		24,168		—
KT M Mobile Co., Ltd.		60,130		—		70		2		3,385		—
kt Nasmedia, Inc. (formerly. Nasmedia, Co., Ltd.)		1,212		—		92		—		41		—
KT MOS Bukbu Co., Ltd.		63		—		2		—		14,046		—
KT MOS Nambu Co., Ltd.		—		—		25		—		13,513		—
KT Engineering Co., Ltd		773		—		—		611		49,604		—
KT Studio Genie Co., Ltd.		32		—		12,535		—		30,615		—
kt cloud Co., Ltd.		13,087		—		2		—		67,800		35
East Telecom LLC		5,197		15,943		—		99		—		—
kt netcore Co. Ltd		224		—		6		25,746		50,775		—
kt p&m Co. Ltd		128		—		1		—		11,829		—
Others		6,942		—		9,788		2,443		12,727		10,031
Associates and joint ventures
K Bank Inc.		488		—		3,739		—		—		—
Others		371		—		9		112		224		686
Total	~~W~~	138,445		15,943		111,519		40,642		714,881		31,076

47 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024
	Receivables						Payables
	Tradereceivables		Loans andothers		Otherreceivables		Trade<br>payables		Otherpayables		Leaseliabilities
Subsidiaries
KT Linkus Co., Ltd.	~~W~~	—		—		2		—		11,050		—
KT Telecop Co., Ltd.		224		—		978		1,137		29,487		—
KTCS Corporation		186		—		5,466		—		53,067		4
KTIS Corporation		12,956		—		—		—		46,564		—
KT Service Bukbu Co., Ltd.		19		—		3		—		24,652		—
KT Service Nambu Co., Ltd.		—		—		—		—		25,537		—
KT Skylife Co., Ltd.		27,816		—		5,223		—		20,335		—
KTDS Co., Ltd.		1,067		—		2,005		—		135,524		—
KT Estate Inc.		581		—		42,422		—		22,115		3,743
KT ENA Co., Ltd. (formerly. Skylife TV Co., Ltd.)		1,006		—		1,541		—		5,018		—
BC Card Co., Ltd. ^1^		4,402		—		6		—		12,288		5
KT Sat Co., Ltd.		1,266		—		—		—		1,309		—
KT Alpha Co., Ltd.		5,738		—		25		2,081		5,516		—
KT Commerce Inc.		14		—		99		8,640		23,215		6,007
KT M&S Co., Ltd.		223		8,400		71		—		52,773		—
KT GENIE Music Corporation. (formerly. GENIE Music Corporation.)		1		—		14,715		—		14,996		—
KT M Mobile Co., Ltd.		49,224		—		51		—		4,016		—
kt Nasmedia, Inc. (formerly. Nasmedia, Inc.)		1,549		—		1		—		42		—
KT MOS Bukbu Co., Ltd.		64		—		736		—		15,122		—
KT MOS Nambu Co., Ltd.		—		—		211		—		12,881		—
KT Engineering Co., Ltd		—		—		367		2,965		123,402		—
KT Studio Genie Co., Ltd.		15		—		4,825		1,235		30,524		—
KT cloud Co., Ltd.		31,683		—		274		—		47,789		345
East Telecom LLC		5,811		15,307		—		89		—		—
Others		15,099		—		1,871		2,746		13,071		18
Associates and joint ventures
K Bank Inc.		518		—		3,706		—		1		—
Others		247		—		20		117		365		963
Total	~~W~~	159,709		23,707		84,618		19,010		730,659		11,085
^1^	As of September 30, 2025, the unsettled amount of ~~W~~ 12,368 million (December 31,<br>2024: ~~W~~ 12,145 million) in credit card transaction with BC Card Co., Ltd. is included in other payables.
---	---

48 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(5)	Significant transactions with related parties for the nine-month periods ended September 30, 2025 and<br>2024, are as follows:
(In millions of Korean won)	2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Sales				Purchases				Acquisition<br>of right-of-<br>useassets		Finance<br>income		Finance<br>costs		Dividendsreceived
	Operatingrevenue		Other<br>income		Operatingexpenses		Others ^1^
Subsidiaries
KT Telecop Co., Ltd. ^1^	~~W~~	7,109		—		111,309		2,002		—		2		—		—
KTCS Corporation^1^		77,014		2		268,154		22		—		—		—		318
KTIS Corporation		60,952		—		276,269		—		—		—		—		1,224
KT Service Bukbu Co., Ltd. ^1^		7,957		—		162,890		3,025		—		—		—		—
KT Service Nambu Co., Ltd.^1^		12,064		8		251,386		4,177		1		—		—		—
KT Skylife Co., Ltd. ^1^		108,125		8		13,790		55		—		—		—		8,368
KTDS Co., Ltd. ^1^		10,127		—		322,484		36,431		—		1		—		6,096
KT Estate Inc. ^1^		44,300		—		58,115		1,476		23,551		—		499		6,876
KT ENA Co., Ltd.<br>(formerly. Skylife TV Co., Ltd.)<br>^1^		10,006		—		8,937		1,400		—		—		—		—
BC Card Co., Ltd.		7,392		20		19,658		—		2		1		—		—
KT Sat Co., Ltd.		4,868		—		7,706		—		—		—		—		—
KT Alpha Co., Ltd.		48,130		—		29,413		—		—		2		—		—
KT Commerce Inc. ^1^		935		—		52,980		47,889		8,513		—		498		—
KT M&S Co., Ltd.		215,462		36		228,831		—		—		—		—		—
KT GENIE Music Corporation.<br>(formerly. GENIE Music Corporation.)		340		—		43,013		—		—		—		—		—
KT M Mobile Co., Ltd.		218,550		105		4,521		—		—		—		—		—
kt Nasmedia, Inc.<br>(formerly. Nasmedia, Inc.)		259		—		951		—		—		—		—		3,487
KT MOS Nambu Co., Ltd. ^1^		1,982		—		70,783		4,998		—		—		—		—
KT MOS Bukbu Co., Ltd. ^1^		2,869		—		69,068		5,383		—		—		—		—
KT Engineering Co., Ltd. ^1^		2,234		15		30,311		105,396		—		—		—		—
KTHS Corporation<br>(formerly. KHS Corporation)		14		—		7,711		—		—		—		—		—
KT Studio Genie Co., Ltd. ^1^		788		—		7,413		60,680		—		1		—		—
kt cloud Co., Ltd.		60,348		—		177,748		—		—		—		6		—
kt netcore Co. Ltd ^1,2^		11,409		—		172,039		267,412		—		—		1		—
kt p&m Co. Ltd ^1,2^		2,284		—		34,179		11,801		—		—		—		—
Others ^3^		39,158		13		83,168		2,722		10,529		1		25		12,519
Associates and joint ventures
K Bank Inc.		5,896		—		4		—		—		—		—		—
Others ^4^		1,582		—		11,364		—		—		1		25		5,079
Others
Others		2		—		—		—		—		—		—		—
Total	~~W~~	962,156		207		2,524,195		554,869		42,596		9		1,054		43,967
^1^	The amount of acquisition of property, equipment and others is included.
---	---
^2^	kt netcore Co., Ltd. and kt p&m Co., Ltd. were established in the fourth quarter of 2024.<br>
---	---
^3^	Transactions with KT Linkus Co., Ltd., PlayD Co., Ltd. and Initech Co., Ltd. before it was excluded from<br>subsidiaries are included.
---	---
^4^	Transactions with Trustay Co., Ltd. before they were excluded from associates and joint ventures are included.<br>
---	---

49 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	2024
	Sales				Purchases				Acquisition<br>of right-of-<br>use assets		Finance<br>income		Finance<br>costs		Dividendsreceived
	Operatingrevenue		Other<br>income		Operatingexpenses		Others ^1^
Subsidiaries
KT Linkus Co., Ltd. ^1^	~~W~~	4,093		12		44,284		71		1		—		—		—
KT Telecop Co., Ltd. ^1^		5,595		—		105,535		10		—		3		—		—
KTCS Corporation		68,763		4		259,402		1		1		—		—		318
KTIS Corporation^1^		54,441		127		250,884		849		—		—		—		1,224
KT Service Bukbu Co., Ltd. ^1^		9,293		—		158,184		1,515		—		—		—		—
KT Service Nambu Co., Ltd. ^1^		11,289		—		195,587		2,139		—		—		—		—
KT Skylife Co., Ltd. ^1^		107,248		6		14,240		50		—		—		—		8,368
KTDS Co., Ltd. ^1^		10,236		—		329,017		41,033		—		1		—		4,848
KT Estate Inc. ^1^		41,878		11		60,523		1,116		24,475		—		463		8,600
KT ENA Co., Ltd.<br>(formerly. Skylife TV Co., Ltd.)		11,142		—		9,418		—		—		—		—		—
BC Card Co., Ltd.		7,139		—		21,804		—		5		2		—		4,589
KT Sat Co., Ltd.		5,535		—		8,562		—		—		—		—		—
KT Alpha Co., Ltd.		46,621		—		33,172		—		—		2		—		—
KT Commerce Inc. ^1^		899		—		59,461		82,863		3,682		—		78		—
KT M&S Co., Ltd.		258,329		24		207,083		—		—		—		—		—
GENIE Music Corporation		300		—		42,116		—		—		—		—		—
KT M Mobile Co., Ltd.		192,555		92		2,543		—		—		—		—		—
Nasmedia, Co., Ltd.		209		2		2,197		—		—		—		—		3,487
KT MOS Nambu Co., Ltd. ^1^		1,441		—		69,661		4,903		—		—		—		—
KT MOS Bukbu Co., Ltd. ^1^		2,331		—		69,028		4,993		—		—		—		—
KT Engineering Co., Ltd. ^1^		1,769		—		28,193		99,316		—		—		—		—
KTHS Corporation<br>(formerly. KHS Corporation)		12		—		5,615		—		—		—		—		—
KT Studio Genie Co., Ltd. ^1^		123		—		5,118		50,300		—		—		—		—
kt cloud Co., Ltd. ^1^		73,085		—		113,396		259		1		1		5		—
Others ^2^		28,645		355		79,222		287		11		2		1		5,855
Associates and joint ventures
K Bank Inc.		4,096		—		110		—		—		918		—		—
Others ^3^		2,943		—		8,510		—		14		—		39		4,124
Others
Others		31		4		—		—		—		—		—		—
Total	~~W~~	950,041		637		2,182,865		289,705		28,190		929		586		41,413
^1^	The amount of acquisition of property, equipment and others is included.
---	---
^2^	Transactions with Lolab Co., Ltd. before it was excluded from subsidiaries are included.
---	---
^3^	Transactions with LS Marine Solution Co., Ltd. and QTT Global (Group) Company Ltd. before they were excluded<br>from associates and joint ventures are included.
---	---

50 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(6)	Key management compensation for the nine-month periods ended September 30, 2025 and 2024, consists of:<br>
(In millions of Korean won)	2025		2024
---	---	---	---	---
Short-term benefits	~~W~~	1,515		1,224
Post-employment benefits		210		145
Stock-based compensation		714		883
Total	~~W~~	2,439		2,252
(7)	Fund transactions with related parties for the nine-month periods ended September 30, 2025 and 2024, are<br>as follows:
---	---
(In millions of Korean won)	2025
---	---	---	---	---	---	---	---	---	---	---	---
	Loan transactions				Borrowing transactions^1^				Equitycontributions incash and others
	Loans		Collections		Borrowings		Repayments
Subsidiaries
KT M&S Co., Ltd.	~~W~~	29,400		37,800		—		—		—
KT Estate Inc.		—		—		58		18,159		—
Others		—		—		18,503		3,190		(3,212	)
Associates and joint ventures
IBK-KT Young Entrepreneurs MARS Investment Fund		—		—		—		—		5,000
Others Investment Association		—		—		—		301		(1,555	)
Total	~~W~~	29,400		37,800		18,561		21,650		233
^1^	Borrowing transactions include lease transactions.
---	---

51 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	2024
	Loan transactions				Borrowing transactions^1^				Equitycontributions incash and others
	Loans		Collections		Borrowings		Repayments
Subsidiaries
KT M&S Co., Ltd.	~~W~~	44,100		47,600		—		—		—
KT Estate Inc.		—		—		—		18,881		—
KT ES Pte. Ltd.		—		—		—		—		68,270
Others		—		—		3,682		514		(2,817	)
Associates and joint ventures
IBK-KT Young Entrepreneurs MARS Investment Fund		—		—		—		—		5,000
KT-IBKC Future Investment Fund ^1^		—		—		—		—		(1,820	)
TeamFresh Corp. ^2^		—		—		—		—		52,841
Others Investment Association		—		—		—		295		1,985
Total	~~W~~	44,100		47,600		3,682		19,690		123,459
^1^	Borrowing transactions include lease transactions.
---	---
^2^	The transaction involved acquiring redeemable convertible preference shares of TeamFresh Corp. and occurred in<br>the process of exchange with the shares of Lolab Co., Ltd. that were held.
---	---
(8)	As of September 30, 2025, the Company has entered into a credit card agreement with a limit of<br>~~W~~18,713 million (December 31, 2024: ~~W~~18,481 million) with BC Card Co., Ltd.
---	---
(9)	The Company has an obligation to invest in KIAMCO Data Center Development Real Estate General Private Placement<br>Investment Blind Trusts, a related party, and others according to the agreement. As of September 30, 2025, the Company is planning to make an additional investment of ~~W~~41,690 million.
---	---

52 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

28.	Fair Value

During the period ended September 30, 2025, there have been no significant changes in the business or economic environment that affect the fair value of the Company’s financial assets and liabilities.

(1)	Fair Value by Financial Instruments Category

Carrying amount and fair value of financial instruments by category as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025				December 31, 2024
	Carryingamount		Fair value		Carryingamount		Fair value
Financial assets
Cash and cash equivalents	~~W~~	1,095,457		^1^		1,540,570		^1^
Trade and other receivables
Financial assets measured at amortized cost^2^		3,294,387		^1^		3,099,178		^1^
Financial assets at fair value through other comprehensive income		211,963		211,963		114,774		114,774
Other financial assets
Financial assets measured at amortized cost		80,465		^1^		80,465		^1^
Financial assets at fair value through profit or loss		431,829		431,829		456,224		456,224
Financial assets at fair value through other comprehensive income		1,800,896		1,800,896		1,458,891		1,458,891
Derivative financial assets for hedging purpose		220,715		220,715		442,144		442,144
Total	~~W~~	7,135,712				7,192,246
Financial liabilities
Trade and other payables	~~W~~	4,185,665		^1^		4,315,375		^1^
Borrowings		6,809,857		6,808,962		7,871,919		7,769,937
Other financial liabilities
Financial assets at fair value through profit or loss		28		28		28		28
Derivative financial liabilities for hedging purpose		6,626		6,626		—		—
Total	~~W~~	11,002,176				12,187,322
^1^	The Company did not conduct fair value estimation as the book amount is a reasonable approximation of the fair<br>value.
---	---

53 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(2)	Fair Value Hierarchy

Assets measured at fair value or for which the fair value is disclosed are categorized within the fair value hierarchy, and the defined levels are as follows:

•	Level 1: The quoted (unadjusted) price in active markets for identical assets or liabilities that an<br>entity can access at the measurement date.
•	Level 2: All inputs other than quoted prices included in Level 1 that are observable (either directly<br>that is, or indirectly that is, derived from prices) for the asset or liability.
---	---
•	Level 3: The unobservable inputs for the asset or liability.
---	---

Fair value hierarchy classifications of the financial assets and financial liabilities that are measured or disclosed at fair value or its fair value is disclosed as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
	Level 1		Level 2		Level 3		Total
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	—		211,963		—		211,963
Other financial assets
Financial assets at fair value through profit or loss		—		—		431,829		431,829
Financial assets at fair value through other comprehensive income		1,659,881		—		141,015		1,800,896
Derivative financial assets for hedging		—		220,715		—		220,715
Total	~~W~~	1,659,881		432,678		572,844		2,665,403
Liabilities
Borrowings	~~W~~	—		6,808,962		—		6,808,962
Other financial liabilities
Financial assets at fair value through profit or loss		—		—		28		28
Derivative financial liabilities for hedging				6,626		—		6,626
Total	~~W~~	—		6,815,588		28		6,815,616

54 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	—		114,774		—		114,774
Other financial assets
Financial assets at fair value through profit or loss		—		—		456,224		456,224
Financial assets at fair value through other comprehensive income		1,317,876		—		141,015		1,458,891
Derivative financial assets for hedging		—		442,144		—		442,144
Total	~~W~~	1,317,876		556,918		597,239		2,472,033
Liabilities
Borrowings	~~W~~	—		7,769,937		—		7,769,937
Other financial liabilities
Financial assets at fair value through profit or loss		—		—		28		28
Total	~~W~~	—		7,769,937		28		7,769,965

55 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(3)	Transfers between Fair Value Hierarchy Levels of Recurring Fair Value Measurements
1)	Details of transfers between Level 1 and Level 2 of the fair value hierarchy for recurring fair value<br>measurements.
---	---

There are no transfers between Level 1 and Level 2 of the fair value hierarchy for the recurring fair value measurements.

2)	Details of changes in Level 3 of the fair value hierarchy for the recurring fair value measurements.<br>

Details of changes in Level 3 of the fair value hierarchy for recurring fair value measurements for the nine-month periods ended September 30, 2025 and 2024 are as follows:

(In millions of Korean won)	2025
	Financial assets						Financialliabilities
	Financialassets atFVTPL			Financialassets atFVOCI			Financialliabilities atFVTPL
Beginning balance	~~W~~	456,224			141,015			28
Acquisition		8,538			—			—
Transfer		(105	)		145			—
Disposal		(5,354	)		(145	)		—
Amount recognized in profit or loss		(27,474	)		—			—
Ending balance	~~W~~	431,829			141,015			28
(In millions of Korean won)	2024
---	---	---	---	---	---	---	---
	Financial assets					Financialliabilities
	Financialassets atFVTPL			Financialassets atFVOCI		Financialliabilities atFVTPL
Beginning balance	~~W~~	441,321			201,189		1,403
Acquisition		15,366			—		—
Transfer		48,645			—		—
Disposal		(13,140	)		—		—
Amount recognized in profit or loss		9,319			—		—
Ending balance	~~W~~	501,511			201,189		1,403

56 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(4)	Valuation Techniques and Inputs

Valuation methods used in recurring fair value measurements categorized within Level 2 and Level 3 of the fair value hierarchy as of September 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)	September 30, 2025
	Fair value		Level	Valuation techniques
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	211,963	2	DCF Model
Other financial assets
Financial assets at fair value through profit or loss		431,829	3	DCF Model,<br><br><br>Adjusted Net Asset Model,<br> <br>Market<br>Approach Model,<br> <br>Binomial Option Pricing Model,<br><br><br>T-F Model
Financial assets at fair value through other comprehensive income		141,015	3	DCF Model
Derivative financial assets for hedging		220,715	2	DCF Model
Liabilities
Borrowings	~~W~~	6,808,962	2	DCF Model
Other financial liabilities
Financial assets at fair value through profit or loss		28	3	Binomial Option Pricing Model
Derivative financial liabilities for hedging		6,626	2	DCF Model

57 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

(In millions of Korean won)	December 31, 2024
	Fair value		Level	Valuation techniques
Assets
Trade and other receivables
Financial assets at fair value through other comprehensive income	~~W~~	114,774	2	DCF Model
Other financial assets
Financial assets at fair value through profit or loss		456,224	3	DCF Model,<br><br><br>Adjusted Net Asset Model,<br> <br>Market<br>Approach Model, Binomial Option Pricing Model, T-F Model
Financial assets at fair value through other comprehensive income		141,015	3	DCF Model
Derivative financial assets for hedging		442,144	2	DCF Model
Liabilities
Borrowings	~~W~~	7,769,937	2	DCF Model
Other financial liabilities
Financial assets at fair value through profit or loss		28	3	Binomial Option Pricing Model
(5)	Valuation Processes for Fair Value Measurements Categorized Within Level 3
---	---

The Company engages external experts that perform the fair value measurements required for financial reporting purposes. External experts report directly to the chief financial officer (CFO), and discuss valuation processes and results with the CFO in line with the Company’s closing dates.

58 -

KT Corporation

Notes to the Separate Interim Financial Statements

Asof September 30, 2025 and 2024, and December 31, 2024

29.	Events After the Reporting Period
(1)	The Company decided on a quarterly dividend at the Board of Directors dated October 21, 2025, and the<br>details are as follows.
---	---
Type	Details
---	---
Dividend per share	~~W~~ 600 (Total dividend: ~~W~~ 144,657 million)
Dividend yield	1.2%
Dividend report date	November 5, 2025
Dividend pay date	November 20, 2025
(2)	As of September 30, 2025, the company has notified customers affected by unauthorized small sum-payments and security incidents. The company is carrying out its own customer care measures in connection with the incident. Implementing these customer care measures is expected to result in a decrease in<br>operating revenue and an increase in operating expenses; however, as of the end of the current quarter, the financial impact cannot be reasonably estimated.
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