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SK Telecom Reports Positive Earnings; AI Push Pays Off

Source: SK Telecom

Seoul, South Korea - SK Telecom (NYSE: SKM) released its 2023 results, reporting positive growth driven by its AI-focused strategy.

Key figures (consolidated)

  • Total revenue: KRW 17.609 trillion, up 1.8% year-on-year.
  • Operating income: KRW 1.753 trillion, up 8.8% year on year.
  • Net income: KRW 1.146 trillion

SK Telecom attributes its growth to its focused AI strategy, which focuses on AI infrastructure, AI transformation, and AI services.  

SK Telecom forecasts continued growth in these areas, driven by the company's robust AI infrastructure and technological advancements. 

Key growth drivers include AI data centers, AI semiconductors, and services such as its AI personal assistant, A.

What's next:

In 2024, SK Telecom aims to further solidify its AI presence by driving development in several key areas:

  • AI data centers
  • AI semiconductors
  • Telco-specific large language models (LLM)
  • X Caliber (likely to be an enhanced AI product or service)

SK Telecom maintained a consistent dividend policy in 4Q2023, paying KRW 1,050 per share.