I have never found any option to set the time or timezone on the KT (at least not in the UI) -- neither when it was unregistered, nor when it was registered.
When you connect to WiFi, the KT will contact an NTP server and set the time. You could also use "date" from the command-line to set it manually. For the time zone, I assume it uses the standard Linux way as well, but I'm too lazy to look it up for you
