Welcome to our dedicated page for SK Telecom Co., Ltd. American Depositary Shares (Each representing 5/9th of a Ordinary Share of SK Telecom Co., LTD.) news (Ticker: SKM), a resource for investors and traders seeking the latest updates and insights on SK Telecom Co., Ltd. American Depositary Shares (Each representing 5/9th of a Ordinary Share of SK Telecom Co., LTD.) stock.
SK Telecom Co., Ltd. (NYSE: SKM) is South Korea's leading wireless telecommunications operator and a flagship company of the SK Group, one of the country's largest conglomerates. Founded in 1994 after acquiring KT's mobile business, SK Telecom has grown to dominate the South Korean market with 31 million mobile customers as of the most recent data.
SK Telecom operates across various segments including wireless telecom, broadband, and pay TV. As of Q4 2017, the company had 6.9 million broadband customers and 9.5 million pay TV subscribers. It owns SK Broadband, a major player in broadband internet and IPTV (Internet Protocol Television) services.
In recent years, SK Telecom has ventured into groundbreaking technologies and new business areas. In November 2021, it spun off its security, semiconductor memory production, and e-commerce units into a separate entity called SK Square, allowing it to focus more on its core telecommunications services and emerging tech sectors.
Highlights of SK Telecom's recent initiatives include:
- Collaborations with global companies like Deutsche Telekom to develop telco-specific large language models (LLMs) for AI applications.
- Significant advancements in AI-powered solutions, such as the AI-based call translator and spam indicator features for mobile users.
- Partnerships with tech companies for innovative projects like the AI-powered veterinary X-ray diagnosis assistance service, X Caliber, now launched in Australia.
- Efforts to make AI data centers more energy-efficient through collaborations with companies like Iceotope Technologies and SK Enmove.
SK Telecom continues to lead the market by expanding its AI capabilities and developing innovative services that go beyond traditional telecommunications. With a focus on AI, metaverse, cloud, and connected intelligence, SK Telecom aims to elevate customer experiences and create greater value for both individuals and businesses.
On April 27, 2023, SK Telecom Co., Ltd. (NYSE:SKM) submitted its Annual Report on Form 20-F for the fiscal year ending December 31, 2022 to the U.S. Securities and Exchange Commission. This comprehensive report is available for public viewing on both the company's official website and the SEC's site. Stakeholders can request printed copies of the audited financial statements and associated footnotes at no cost. The filing underscores SK Telecom's commitment to transparency and regulatory compliance, which is vital for maintaining investor confidence and corporate governance standards.
Oysterable has launched its innovative Lalaloop© AIoT resource circulation solution at MWC 2023 in Barcelona, aimed at tackling the issue of single-use plastics and waste.
The system features LalaloopID©, which tracks the lifecycle of resources, including carbon emissions and waste data, allowing users to trade carbon credits. It offers a self-serve Reverse Vending Machine (RVM) that automates recycling and rewards participation in waste reduction.
With over 12 patents secured and around 80,000 users of its app, Oysterable is poised to enhance sustainability efforts across Korea, the U.S., Europe, and Asia.
SK Telecom (NYC: SKM) held a press conference on Feb. 26, 2023, in Barcelona, outlining its vision for 'AI to Everywhere' across five key areas: Customer & Technology, Time & Space, AI Transformation (AIX) for Industries, Core Business Model, and ESG. CEO Ryu highlighted the success of their AI service 'A.', achieving 1 million subscribers in 9 months, and plans to expand features from 30 to 100. Additionally, SKT is advancing urban air mobility, autonomous driving, and its metaverse service 'ifland,' which boasts 4 million monthly active users. They aim to drive AI innovations in various industries while enhancing subscriber experience through personalized services.
On February 18, 2023, SK Telecom (NYSE:SKM, SKT) announced its participation in MWC Barcelona 2023 from February 27 to March 2. The company will showcase advancements in AI technologies, including the large language model 'A.', 'Vision AI', and 'SAPEON' AI semiconductors. SKT aims to highlight its evolution into an AI company and enhance global partnerships, with CEO Ryu Young-sang promoting collaborations in AI, metaverse, and telecommunications. The event will feature a life-scale UAM aircraft simulator and next-generation 6G technologies, emphasizing SKT's commitment to innovation and global market expansion.
On October 27, 2022, SK Broadband signed a $4 million investment commitment with Swit Technologies, aiming to enhance the global collaboration platform market. This partnership will establish a dedicated sales team, providing Swit’s services to all SK Broadband clients to facilitate digital transformation in hybrid work environments. SK Broadband's VP, Lee Bang-yeol, emphasized the opportunity for increased productivity and company culture improvement. Swit's Work OS, recognized for its scalability and ease of use, is set to lead this digital transformation in Korea.
On April 28, 2022, SK Telecom filed its Annual Report on Form 20-F for the year ending December 31, 2021 with the U.S. SEC. This report is accessible on SK Telecom's official website and the SEC's site. Investors can also request printed copies of the complete audited financial statements free of charge.
SK Telecom (NYSE:SKM) and Joby Aviation (NYSE:JOBY) have announced a partnership to launch emissions-free aerial ridesharing services in South Korea. SKT CEO Ryu Young-sang and Joby CEO JoeBen Bevirt signed a strategic collaboration agreement in Marina, California. This partnership aligns with South Korea's 'K-UAM' Roadmap for Urban Air Mobility, aiming to introduce a five-seat eVTOL aircraft with a range of 150 miles and a top speed of 200 mph. The integration of SK's T Map mobility platform with Joby's services is expected to enhance urban transportation.
On January 8, 2022, at CES 2022, SK Telecom, SK Square, and SK hynix announced the formation of the 'SK ICT Alliance' to jointly advance ICT convergence technologies. This collaboration aims to enhance global competitiveness in sectors like semiconductors, 5G, and AI, leveraging SK Telecom's technologies and SK hynix's semiconductor innovations. The initiative includes the establishment of SAPEON Inc. in the U.S. to promote SK Telecom's AI chip, SAPEON, and aims to create over KRW 1 trillion in investment capital for innovative tech sectors.
On January 6, 2022, SK Telecom (NYSE:SKM) executives, including CEO Ryu Young-sang, met with Qualcomm's CEO Cristiano Amon at CES 2022 to discuss strategic collaboration in ICT, focusing on semiconductors and 5G technologies. The discussions emphasized partnerships in developing data center applications and high-speed memory solutions. Park Jung-ho, CEO of SK Square, highlighted the necessity of cooperation amid intense global competition. SK Telecom holds a leading position in the Korean market, with 30 million subscribers, nearly half of the total market share.
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