SK Telecom Appoints Yoo Sang-young as New CEO... "We Will Uphold Our Pride as the No.1 Service Company"

Yoo Young-sang, New CEO of SK Telecom

[Asia Economy Reporter Eunmo Koo] Yoo Sang-young, head of SK Telecom's mobile network operator (MNO) business, has been appointed as the new CEO of SK Telecom.

SK Telecom announced on the 1st that the board of directors made this decision.

Since joining SK Telecom in 2000, Yoo has been responsible for new business investments and discovering future growth opportunities at SK Telecom and SK C&C. He has grown into an expert in new business development and M&A within the SK Group, overseeing the acquisition of SK Hynix in 2012. Since 2019, he has served as the head of SK Telecom's MNO business, leading the company to become the number one in 5G subscribers.

On this day, SK Telecom, separated from the investment company SK Square, entered the 'SKT 2.0 era,' focusing on telecommunications, artificial intelligence (AI), and digital infrastructure businesses. In particular, attention is focused on whether Yoo, who led the growth of wired and wireless businesses, can transform the company into an 'AI and Digital Infrastructure Company' based on the existing telecommunications business.

Although SK Telecom has been engaged in various ICT new businesses such as media, commerce, security, and mobility, there have been continuous criticisms that it is difficult to properly evaluate their value under the telecommunications brand. Going forward, SK Telecom plans to focus on advancing AI-based services and digital infrastructure businesses alongside its existing telecommunications business. Through this, the company aims to increase its annual revenue from about 15 trillion won last year to 22 trillion won by 2025.

Yoo will hold a town hall meeting with all employees as his first official event in the afternoon, sharing his vision, management philosophy, and ideas about corporate culture.

Yoo said, "The newly reborn SK Telecom will evolve into a company that fulfills its social responsibilities through stable ICT technologies and services and gains trust and love from customers," adding, "We will uphold the pride of being Korea's number one service company centered on customers, technology, and services."

This content was produced with the assistance of AI translation services.