SKT's 'T Universe' Celebrates First Anniversary... Surpasses 1.3 Million Monthly Active Users

GMV of 260 Billion KRW in Q2... Forecast of 500 Billion KRW by Year-End
Introducing 'Annual Subscription' Modeled After Amazon Prime

Photo by SKT

[Asia Economy Reporter Oh Su-yeon] SK Telecom's subscription product 'T Wooju' has reached its first anniversary since launch. With a rapid increase in active users securing stable membership fees, the transaction amount each quarter is also growing quickly, leading SK Telecom's non-telecom business.

1.3 Million Customers, 260 Billion KRW Product Transactions in First Half

On the 31st, SKT announced that the monthly active users of T Wooju exceeded 1.3 million as of the end of August. Based on the cheapest plan, Wooju Pass Slim (2,900 KRW per month), it earns at least 3.8 billion KRW monthly from membership fees alone, and about 13 billion KRW based on the 9,900 KRW plan.

Not only users but also the transaction amount through T Wooju is rapidly increasing. SKT revealed in its recent Q2 earnings report that the total merchandise sales (GMV) of T Wooju in the first half of this year reached 260 billion KRW. Yoon Jae-woong, SKT’s head of subscription marketing, stated, "T Wooju is expanding its user base faster than any other non-telecom service we have launched."

Market analysts expect SKT to comfortably achieve its GMV target of 500 billion KRW this year. It is also anticipated to reach this target well before the deadline. The number of active users is expected to exceed 2 million by the end of the year. Previously, SKT set a goal to reach 36 million subscribers and 8 trillion KRW in transaction volume by 2025.

As the scale grows, the lineup has also expanded. T Wooju was launched last year with two lineups: Wooju Pass All and Mini. It has since added Wooju Pass Life, focused on daily customer benefits, and Wooju Pass Slim, specialized in commerce, bringing the total to four lineups. The number of partners has also greatly increased from 18 to 48 within a year.

The smooth sailing of T Wooju also contributes to the growth of SKT and SK Square affiliates. SKT provides services such as 11st, Wavve, Flo, SK Store, and T map through Wooju Pass.

Compared to subscription market leaders like Coupang’s 'Wow Membership' with 9 million paid subscribers or Naver’s 'Plus Membership' with 8 million cumulative users, T Wooju is still in its infancy. However, within the telecom industry, it has expanded its influence ahead of competing services like LG Uplus’s 'U-Dog'.

Analysis of 'T-wooju' Users. Graphic by SKT

Popular Among 20s to 40s... Amazon Model 'Annual Subscription' to be Introduced Within the Year

Seven out of ten users are in their 20s to 40s, who show high interest in overseas direct purchases and discount benefits. The largest group is in their 40s at 26%, followed by 30s at 25%. Users in their 20s account for 16%, and those in their 50s make up 15%. Users aged 60 and above also represent 13%.

Nearly half of all subscribers, 47%, joined through non-face-to-face channels. SKT explained that this shows a different pattern from the traditional offline-centered subscriptions.

To mark the first anniversary of T Wooju, SKT is launching an annual subscription product to enhance customer convenience. The 'Wooju Pass Annual Subscription,' launching on September 7, allows users to subscribe annually to the four products currently offered on a monthly basis: Wooju Pass All, Life, Mini, and Slim.

While maintaining the benefits of the existing monthly subscription, it offers a 17% discount on fees and SK Pay points (34,000 to 41,000 points per product, one-time) usable on 11st and other platforms as a welcome gift, making it economical.

This model is inspired by the global largest e-commerce company Amazon’s paid membership service 'Amazon Prime.' Amazon Prime’s annual membership fee is $139 (about 187,094 KRW), approximately 22.7% cheaper than the monthly fee of $14.99 (about 20,177 KRW). By offering discounts through annual subscriptions, it prevents customer churn with a 'lock-in effect' and secures a stable subscriber base.

Abundant Events for the 1st Anniversary

SKT is holding the '365 Days, T Wooju' event to celebrate the first anniversary of T Wooju. Over one year, five winners each will be drawn at three partner locations?Homeplus, Baedal Minjok, and gas stations?to receive gift certificates and coupons worth about 1.2 million KRW. Additionally, every month for a year, 30 people will receive two Lotte Cinema movie tickets and a premium annual subscription to SPOTV NOW.

In the Wooju Marble game available on the T Wooju 1st anniversary event page, one person daily will receive a golden key weighing 1 don, and all participants are guaranteed a 100% winning prize. Detailed information and event participation are available on the T Wooju 1st anniversary event page.

T Membership also offers the 'Wooju Pass Chance' event, providing additional discounts for Wooju Pass customers. Details of this event can be found on the T Membership app and website.

Furthermore, SKT has revamped the design of its app and website to make it easier for customers to find desired information such as additional benefits and to quickly check and conveniently use key information about their subscribed products, in line with the expansion of T Wooju subscription products.

Yoon Jae-woong, SKT’s head of subscription marketing, said, "To express our gratitude to customers on T Wooju’s first anniversary, we have prepared the new product 'Wooju Pass Annual Subscription' and various events. We will continue to do our best to improve and discover services using AI and other technologies to provide more benefits to our customers."

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