Head of KTF busted

The head of South Korean operator KTF stepped down this week after being arrested on bribery charges.

Local press reports that Young-Chu Cho is alleged to have received payments amounting to more than $2m from equipment suppliers.

A replacement chief executive is expected to be announced imminently.

Mobile carrier KT Freetel is the second largest player in the wireless market behind leader SK Telecom. The company was due to embark upon a merger with leading fixed line carrier and parent KT, a move which may be delayed following the departure of Cho.

In his biography on the KTF website, Cho said that he was dedicated to building “a new way” for the firm.

“I have chosen a road from among two roads that people do not choose, and that changed my destiny,” he said.