SK Telecom
#1877
Rank
$8.86B
Marketcap
South Korea
Country
Mr. Young Sang Ryu (CEO, Pres & Exec. Director)
Jinwon Kim (CFO & Head of Corp. Planning Group)
Mr. Heesup Kim (Head of Communications)
Summary
History
SK Telecom was established in March 1984 under the name Korea Mobile Telecommunications Services Corp. , but was renamed Korea Mobile Telecommunications Corp. in May 1988. It was a subsidiary of the state monopoly phone company, Korea Telecom until KT sold it off in 1994. In June 1994 SK Group became Korea Mobile Telecommunications Corporation's largest shareholder. KMTC officially joined the SK Group in January 1997 and changed its name to SK Telecom in March of that year.In October 2000, SK Telecom became the second operator in the world after NTT DoCoMo to launch a commercial 3G service using W-CDMA technology. In January 2002, this was followed up by launching the world's first CDMA2000 1xEV-DO network, offering greatly increased data transmission speeds to preexisting 2G networks.In May 2005, SK Telecom divested 60 percent of SK Teletech stock to cellphone maker Pantech. SK remains the second largest shareholder by holding on to the rest of Teletech's stock.
In 2006, the well-known "SKY" brand of mobile devices became fully owned by Pantech as it finalized its takeover of SK Teletech.
1984–1993: Early Years
Founded on March 29, 1984, as Korea Mobile Telecommunications Services Corp., the state-owned carrier introduced pagers and car phones to the Korean market. May 1984 saw the launch of the car phone service. Korea Mobile changed its name to Korea Mobile Telecommunications Corp. in May 1988. In July, AMPS cellular network was initially launched in Seoul metropolitan area. By 1991 nationwide coverage was complete.In April 1993, the South Korean government, through KMTC, adopted CDMA as the national cellular telephone system.
1994–1996: Privatization and the CDMA standard
Through privatization, SK Group became Korea Mobile Telecommunications Corp.'s largest shareholder in June 1994.In October 1994, Korea's first CDMA system was introduced to the public for the first time.In January 1995, KMTC reached the one million subscriber mark. Korea Mobile Telecommunications became the third Korean firm to be listed on the NYSE exchange in June 1996. Later that year South Korea got its first commercial CDMA network. Operating in Seoul in October, it is considered one of the world's earliest commercial CDMA networks.
1997–2000: International expansion
SK Group completed its takeover of KMTC in January 1997, as it became the world's sixth carrier to attain ten million subscriptions. Around that time, it also began constructing the Northeast Asian CDMA belt encompassing China, Japan, Vietnam, and the rest of the Asian continent.In March 1997, to reflect new changes, KMTC changed its name to SK Telecom, and in October, NetsGo, an online service, was launched.In June 1998, SK Telink, the international call service division, started offering commercial overseas call service. In December 1998, SK Teletech launched its first handset. In April 1999, SK Telecom entered the Mongolian market by co-founding Skytel LLC with nearly 30 percent ownership stake.TTL, a wireless plan targeting younger users, and nTOP, a cellular internet service were launched in July and October 1999, respectively.In December 1999, SK Telecom surpassed ten million subscriber mark, the following month, it launched the world's first commercial CDMA2000 service. By the end of the year the carrier won a contract for asynchronous IMT-2000 facility.
2001–2007: Cellular internet and market accrual
The new millennium ushered in an era of cross-platform online networks that saw efforts to integrate mobile services, as SK Telecom was exploring new value-creating models such as m-Commerce and satellite DMB Service.
In January 2002, an acquisition of Shinsegi Telecomm Inc. was completed. In the same month also, the company deployed world's first commercial synchronous IMT-2000 facility.In March 2002, the carrier struck international roaming deals between countries using CDMA and GSM networks. An agreement was signed with Israel's Pele-Phone in April to sell proprietary software that will operate on the carrier's existing CDMA network and future 1x-CDMA network. In July, a MoU was signed with China Unicom to establish a joint venture. In November two mobile applications ‘June’ and ‘Moneta’ were launched. In July 2003, S-Fone, a commercial CDMA network became operative in Vietnam. In August 2003, June became the world's first 3G service to have one million subscribers.In February 2004, SK won a contract for a joint venture with China Unicom, called UNISK.In March 2004, Hanbyul, the world's first DMB satellite, was launched.MelOn, an online music store was launched in November 2004. ‘1mm’ and ‘Loview,’ a digital photo frame service were launched in April and November 2005, respectively. By December, MelOn had four million subscribers.SK Telecom started 2006 with record revenues of ?10 trillion . In May the world's first commercial HSDPA handset was released. May also saw the carrier's entry into the U.S. wireless communication market with Helio. In June, SK Telecom signed a strategic partnership with China Unicom to purchase CB worth $1 billion in its subsidiary, China Unicom Hong Kong. In the same month SK deployed its WiBro internet network. In April 2007, a project to create TD-SCDMA, China's 3G wireless broadband equivalent was signed with the Chinese government. Around that time, S-Fone had two million subscribers in Vietnam.
2008–present: Landline and new technologies
In November 2008, SK signed an agreement to buy a controlling stake of fixed-line phone company Hanaro Telecom for ?1.09 trillion from a consortium led by AIG and Newbridge Capital. The new entity will be the second-largest telecom firm in terms of total assets and revenues next to KT Corp.In 2013 SK Telecom was the world's first operator to offer a commercial LTE-Advanced network under the brand name bandLTE. This coincided with the release of the Samsung Galaxy S4 LTE-A model, which offered a step-up CPU and also LTE-Advanced capabilities. SK Telecom supported this handset at launch.On July 6, 2013, it was reported that Apple was in talks with SK Telecom to release the iPhone 5s model on SK's LTE Advanced network.On December 17, 2018 SK Telecom introduced the 'baro' roaming plan which offers unlimited use of international roaming voice calls. As of June 2019, 'baro' has drawn 2.2 million customers and 38 million total calls . It also won the 'Best Mobile Technology Breakthrough in Asia' award at the 2019 Asia Mobile Awards carried as section of MWC19 Shanghai.In June 2019, SK Telecom announced the launching of the world's first 5G roaming service partnering with Swisscom.In October 2020, SK Telecom formed a partnership with Uber Technologies, with a plan to break off mobility operation into a subsidiary called T Map Mobility.In November 2021, SK Telecom spun off of a new company focusing on investments, semiconductors and ICT, SK Square.
Mission
Vision
Key Team
Yong Joo Park (Head of ESG)
Seong Ho Ha (Head of Corp. Relations)
Mr. Jong Ryeol Kang (Head of ICT Infrastructure, CSPO & Exec. Director)
Hyun A Lee (Head of AI&CO)
Myung-Jin Han (Head of Corp. Strategy)
Bong Ho Lim (Head of Mobile CO)
Dong Hwan Cho (Head of Cloud Technology)
Recognition and Awards
References
https://en.wikipedia.org/wiki/SK_Telecom
https://in.investing.com/equities/sk-telecom-co-ltd
https://finance.yahoo.com/quote/SKM/profile?p=SKM
https://www.comparably.com/companies/sk-telecom/mission
https://www.crunchbase.com/organization/sktelecom
https://sec.report/CIK/0001015650
Mr. Young Sang Ryu (CEO, Pres & Exec. Director)
Jinwon Kim (CFO & Head of Corp. Planning Group)
Mr. Heesup Kim (Head of Communications)