SKT 2.0 Leader CEO Yoo Young-sang... "22 Trillion Won Revenue Target by 2025"

New Vision Announced at Townhall Meeting on the 1st
'AI & Digital Infrastructure Service Company'
‘One Team’ Synergy through Organic Integration with SKB
Transition to CIC System... Organizational Restructuring Implemented

[Asia Economy Reporter Minyoung Cha] “We will achieve a sales target of 22 trillion KRW by 2025.”

On the afternoon of the 1st, Yoo Sangyang, CEO of SK Telecom 2.0 era, held a company-wide town hall meeting and announced the vision of an ‘AI & Digital Infrastructure Service Company’ centered on customers, technology, and services. Based on a stable communication infrastructure, SK Telecom aims to showcase ICT technologies and services while pursuing business synergy as a ‘one team’ through the organic integration of wireless-focused SK Telecom and wireline-focused SK Broadband.

The three key words are Customer?Technology?Service

SK Telecom presented customer, technology, and service as the three key management keywords it should pursue. The beginning and end of all services must be customer-centered, aiming to lead customer satisfaction through differentiated technology and directly provide good services to customers. In particular, it emphasized that building and maintaining a stable communication infrastructure, which is a basic requirement for telecommunications service providers, will be a prerequisite.

SK Telecom plans to achieve a sales target of 22 trillion KRW by 2025 by further enhancing competitiveness in its three core business areas: ▲wireless and wireline communications ▲AI services ▲digital infrastructure services, thereby contributing to improving the quality of life for the public. This year, FnGuide estimates consolidated sales at about 19.5 trillion KRW. Last year, consolidated sales reached 18.6247 trillion KRW.

In the wireless and wireline communication business, SK Telecom will build a stable communication infrastructure as the leading fixed-line telecommunications operator along with 5G-based competitiveness. By efficiently expanding 5G coverage, it will establish a network environment where communication services can be used stably anytime and anywhere.

In an environment where customer needs for the media market are becoming more diverse, SK Telecom will enhance IPTV product competitiveness through synergy with SK Broadband and lead media trends by integrating online video services (OTT) and home media businesses. It also plans to expand investment in original content and global partnerships.

Expansion of T Universe and Ifland... Ultra-collaboration with MS and Apple

With the subscription service ‘T Universe’ first introduced last September, SK Telecom plans to lead the subscription service market. The metaverse service ‘Ifland,’ launched in July, will also evolve into an open platform where users directly participate and create new worlds themselves, expanding its scale through partnerships with various industries such as gaming and entertainment.

SK ICT family companies will newly introduce an ‘AI Agent’ service that integratively provides various products and services tailored to customers’ situations and preferences. The AI Agent is expected to become a friend and assistant who meets customers closest anytime and anywhere, offering various fun and convenience through interaction with customers.

On the digital infrastructure side, SK Telecom will expand domestic data center construction to respond to the continuously increasing demand for data centers. Based on this, it plans to actively pursue entry into the global data center market. It will also enhance cloud business competitiveness based on differentiated AI and DT-based competitiveness such as 5G MEC and dedicated line infrastructure. The industrial Internet of Things (IoT) business in manufacturing, security, and finance will also be expanded.

In this process, SK Telecom will actively engage in ultra-collaboration with various big players. Currently, SK Telecom is cooperating with Samsung, Kakao, and others to provide differentiated customer experiences. It is promoting cooperation with leading global companies such as Microsoft (MS), Apple, Amazon, Meta (formerly Facebook), and Deutsche Telekom in future business areas including metaverse, media, commerce, cloud, and data centers.

It plans to prioritize providing stable wireless and wireline communication services to establish itself as a connected society. Through this, it aims to create social value and contribute to the happiness and quality of life of the public.

SK Telecom will also accelerate ESG (environment, social, governance) management based on ICT. Having already engaged in ESG activities such as ‘AI care services,’ ‘NUGU Care Call,’ and ‘Happy Habit,’ it will seek ways to solve social challenges through ICT services like ‘ESG Subscription’ and ‘Small Business T deal.’ It will also participate in environmental protection policies such as reducing carbon emissions through solar-powered base station construction and development of high-efficiency equipment, and reducing plastic use by expanding the Happy Habit project.

Internal empathy and communication... SKT-SKB ‘One Team’ synergy

CEO Yoo Sangyang also emphasized internal empathy and communication. He stated that the vision and business direction SK Telecom aims for must be agreed upon by all members. He believes that only through this can both the members and the company grow and pursue happiness together. He emphasized sharing the new SK Telecom vision and goals with all members and encouraging voluntary participation and effort.

He will continuously create open communication channels with all SK Telecom members. Communication and collaboration will not be limited to within SK Telecom but will expand to the entire SK ICT family, including SK Broadband and SK Square. He plans to prepare education and recruitment programs suitable for social and generational changes and continuously secure talent. Additionally, he will establish compensation systems that allow all members to share company performance, such as the ‘Employee Shareholder Participation Program.’

On the same day, organizational restructuring and executive appointments were carried out to achieve the new vision and build organizational culture. The core of the restructuring is to convert the previously separate wireless (SK Telecom) and wireline (SK Broadband) organizational systems into a common B2C and B2B CIC (Company in Company) system for both companies to maximize synergy as a real ‘one team.’

CEO Yoo Sangyang stated, “SK Telecom will contribute to creating social value and improving the quality of life for the public with a solemn sense of mission and responsibility as the number one service company,” adding, “Through this, we will evolve into a good company trusted and loved by customers.”

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