[Concall] SK Telecom "No Specific Plan Decided Yet for Governance Restructuring"
[Asia Economy Reporter Seulgina Cho] SK Telecom stated that no concrete plans have been decided yet regarding the restructuring of its governance.
During the conference call held after the earnings announcement on the 7th, when asked whether last year's organizational restructuring and dual management organization could be seen as a preliminary step toward governance restructuring, SK Telecom explained, "At this point, no concrete plans related to governance restructuring have been decided."
SK Telecom added, "We will communicate with market stakeholders so that all interested parties can be satisfied when the optimal plan and environment are established."
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SK Telecom's 2019 consolidated revenue was KRW 17.7437 trillion, a 5.2% increase compared to the previous year, while operating profit decreased by 7.6% to KRW 1.11 trillion. Although revenue increased due to the expansion of 5G subscribers and growth in the media business, the large-scale 5G investment burden and marketing costs negatively impacted operating profit. Net profit was limited to KRW 861.9 billion, a 72.5% decrease influenced by equity-method gains from SK Hynix.
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