Yoo Young-sang, SKT President, "Evolving into an AI-Based Service Company"

The appearance of SKT CEO Yoo Young-sang attending the shareholders' meeting

[Asia Economy Reporter Lim Hye-sun] Yoo Young-sang, President of SK Telecom, stated, "We will evolve into an AI service company based on wired and wireless communications, and through ESG 2.0 activities linked to our core business, we will become a company loved by customers and grow our corporate value."

On the 25th, Yoo Young-sang held the 38th General Shareholders' Meeting at the T Tower headquarters in Euljiro, Seoul, where he explained to shareholders the achievements of the past year and the management vision to evolve into an AI-based service company in the SKT 2.0 era, along with plans to strengthen ESG management.

"SKT, Proactively Preparing for the Next Normal"

President Yoo said that the time for changes in innovative technology fields has shortened from the usual five years to just five months, and the time customers take to adapt to new services has been reduced from 500 days to one month, marking the arrival of the "Next Normal" era. SKT will continue solid growth based on capabilities prepared proactively.

He noted that as of January, SKT secured 10 million 5G subscribers and achieved first place in net IPTV subscriber growth among paid broadcasting subscribers, surpassing 9 million subscribers by the end of last year, maintaining steady growth. The metaverse platform 'Ifland' has rapidly grown, with the number of subscribers increasing 12-fold and monthly active users (MAU) more than quadrupling within six months of launch. The subscription service 'T Woosoo' is also progressing smoothly, achieving a total merchandise sales amount (GMV) of 350 billion KRW.

Along with this, Yoo Young-sang announced that in the SKT 2.0 era, the company will redefine its business around five major sectors: wired and wireless communications, media business, enterprise business, AIVERSE, and connected intelligence. He pledged to allocate optimal personnel and resources to the three key management elements?customers, services, and technology?to prove profitability and growth.

The wired and wireless communication business plans to increase profitability through the construction of a 5G shared network and expansion of online distribution. The media business will expand its scope to include content, commerce, and advertising. The enterprise business will lead AI adoption across industries, focusing on data centers, cloud, and AIoT (Artificial Intelligence of Things).

The AIVERSE (a compound of AI and Universe) business will launch new AI agent services and upgrade core services such as Ifland and T Woosoo.

Becoming a Company Loved by Customers

President Yoo emphasized that ESG management is a key management issue determining corporate value, and SKT will become a company loved by customers through SKT ESG 2.0 activities linked to its core business.

SKT ESG 2.0 management strengthens activities closely related to the core business, including eco-friendly growth through green networks, contributing to a safe society using ICT technology, and ESG activities utilizing AI services and technology. Additionally, SKT plans to expand social impact by promoting ESG activities in which customers can directly participate and be rewarded.

SKT established an ESG committee in 2021 and proactively set up an ESG management promotion system, including being the first domestic IT company to declare RE100. It also carries out various ESG activities such as Happy Habit to reduce disposable cups and NUGU Corona Care Call.

As a result, SKT received the highest rating in the Carbon Disclosure Project (CDP), which only 1.6% of over 13,000 companies worldwide have achieved, and is the only domestic telecom company included in the DJSI (Dow Jones Sustainability Index) World, recognizing its achievements.

SKT plans to transform its core infrastructure, the communication network, into a green network by utilizing AI and renewable energy. Through integrating and upgrading 3G and LTE network equipment, SKT will reduce power consumption by about 53% compared to before using 'Single Radio Access Network' technology and will use AI technology to reduce power consumption at base stations.

Furthermore, SKT aims to strengthen the use of renewable energy by building more than 300 solar power stations by 2023 and contribute to achieving 'Net Zero' by reducing greenhouse gas emissions by 2050.

SKT will also contribute to creating a safer society by utilizing ICT technology. It will continue activities to protect customers from everyday risks, such as disaster messages and voice phishing prevention, ensuring warm connections.

Cash Dividend Confirmed at 3,295 KRW per Share

On the 25th, SK Telecom held the 38th General Shareholders' Meeting at the T Tower headquarters in Euljiro, approving the 2021 financial statements, appointment of inside and outside directors and audit committee members, and partial amendments to the articles of incorporation.

The 2021 consolidated financial statements were approved, showing annual sales of 16.7186 trillion KRW and operating profit of 1.3872 trillion KRW, growing 4.1% and 11.1% respectively compared to the previous year. The cash dividend was confirmed at 3,295 KRW per share, including quarterly dividends paid since the second quarter of last year.

To strengthen safety and health for employees, business partners, and citizens, SKT appointed Kang Jong-ryeol as Chief Safety and Health Officer (CSPO) and inside director, and reappointed Kim Seok-dong as outside director and audit committee member.

Additionally, SKT expanded its business scope by adding MyData business, medical devices, and veterinary medical devices to its business objectives. The agenda to grant stock options to strengthen responsible management and enhance mid- to long-term corporate value was also approved.

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