Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2009

Commission File Number 1-14926

KT Corporation

(Translation of registrant’s name into English)

206 Jungja-dong

Bundang-gu, Sungnam

Kyunggi-do

463-711

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 þ Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

Main items discussed at the “2009 CEO Conference”held on January 21, 2009 :

KT Corp. guidance for Fiscal Year 2009 after merger with KT Freetel :

A. Revenue: 19 trillion (KRW)

B. Operating Profit: 1.8 trillion (KRW)

C. EBITDA: 5 trillion (KRW)

D. CAPEX: 3.2 trillion (KRW)

All New KT

KT-KTF Merger Announcement

2009. 1. 21

Table of Contents

Transaction Summary

Proposed Timeline

Strategic Rationale

Immediate Impact

Cost Synergies

Further Opportunities

2009 Guidance

Highlights

Highlights

KT-KTF merger to lead fixed-wireless convergence

Dilution minimized through treasury shares and issuance of EB

to NTT DoCoMo

Estimated increase in ’09 EPS : 70~80% (compared to ’08)

Expected effect : approx. cost reduction of 1.5% of combined

sales

Quicker decision-making due to unified management

Transaction Summary

Merger Ratio (KT: KTF) 1:0.7192335

Use of treasury shares and EB issued for 60% of NTT’s

KTF shares to minimize dilution effect

Expected amount of treasury shares and new shares

Treasury shares used : 60% of total treasury shares

New shares issued : less than 5%

Less than 287M

After Merger

Less than 5%

Dilution

Effect

273M

Total shares

issued

Before Merger

Total issued shares, number of treasury shares used, and new shares issued

are

subject to change during the process of the merger

Proposed Timeline

<Jan. 20>

<Feb. 5>

<Apr. 16>

<Mar. 27>

Resolution

of merger

Record

date

EGM

appraisal

rights period

begins

Appraisal

rights

period ends

Merger

date

The merger process is expected to last 4 months

The above schedule is subject to change due to government approval period and other issues

Representative telcos

of OECD countries have achieved competitiveness

through integrated fixed-wireless management

Single company : 11 countries including Italy

100% affiliated : 11 countries including USA

Under 100% affiliated : 7 countries including Korea (Only three countries,

including Ireland, have affiliates with lower ownership than Korea)

Strategic Rationale

Change in ownership structure

Country Company Name

merged

100% affiliated

merged

100% affiliated

2008

75% affiliated

100% affiliated

76% affiliated

51% affiliated

SBC, BellSouth (separate)

1998

Denmark Tele

Danmark

(TDC)

Switzerland Swiss Telecom

Canada Bell Canada

Italy Telecom Italia

USA AT&T

In China, 6 fixed-wireless companies were reorganized into 3 integrated fixed-wireless

companies (2008)

Strategic Rationale

Lead convergence trend

Unify decision-making and stakeholder interest

Maximize resource efficiency

Minimized dilution through treasury shares

Enhanced corporate value through merger synergy

Higher EPS through full-scale wireless business

Unified customer care providing one-stop service

Develop convergence services

Provide competitive bundle products

Corporate Benefit

Shareholder

Benefit

Customer Benefit

Immediate Impact

Financial Benefits

Enhanced EPS through fixed-wireless business opportunities and

merger synergies

(Excluding treasury shares: 70~80%, Inclusive: 110~120%)

2009 EPS comparison with 2008 KT stand-alone EPS

Cost Synergies

Cost savings of 1.5% of 2008 combined sales (3-year average)

Cost savings of 1.5% of combined sales (3-year average)

Cost Synergies

53%

23%

24%

Overhead

Y+0

Y+1

Y+2

Marketing

Network

172

147

(KRW

Billion)

197

240

398

Marketing cost

Reduction of sales promotion / commissions through bundle

marketing

Network cost

–

Reduction of outsourcing costs for wireless network maintenance

Overhead cost

–

Integration of procurement, billing, call-centers, and R&D costs

Combined base of 20M fixed / 14M wireless subs

Reduced churn through full-scale bundling

Integrated distribution channel under unified

brand

Cross-selling through fixed-wireless distribution

channel

Develop fixed-wireless integrated products

Diversify service / product portfolio

Establish R&D infrastructure for diverse bundled

products and next-generation telecom services

Expand

Customer Contact

Point

Product

Diversification

Enhance

R&D

Capacity

Expand

Customer Base

Further Opportunities

2009 Guidance

Revenue

EBITDA

CAPEX

3.2

1.8

(KRW trillion)

Q&A

Forward-Looking Statements

This communication contains forward-looking information and statements about KT Corporation and its merger with KT Freetel Co., Ltd. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 are generally identified by the words “believe,” “expect,” “anticipate,” “target” or similar expressions. Although KT Corporation’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of KT Corporation, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public filings with the SEC made by KT Corporation, including on Form 20-F and on the Form F-4 that KT Corporation will file with the SEC. KT Corporation undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.

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: January 21, 2009 KT Corporation

By:		/s/ Thomas Bum Joon Kim
Name:		Thomas Bum Joon Kim
Title:		Managing Director

By:		/s/ Youngwoo Kim
Name:		Youngwoo Kim
Title:		Director