KT is seeking to separate its satellite business division as an independent entity and sell its stake to a foreign buyer.
KT has selected Samsung Securities as an adviser to sell off the new entity's stake.
However, KT said it has not yet decided whether to sell its satellite division or how many stake it will sell to a foreign buyer.
Last month, KT carried out restructuring operation, announcing its plan to spin off three specialized divisions - media contents, satellite and real estate.
Under the Electronic Communication Fundamental Law, KT is allowed to sell its stake to a foreign buyer by up to 49 percent. Even though KT sells 49 percent of its stake, it can still control the company with the remaining 51 percent.
Source: Yonhap News (Aug. 22, 2012)