SK Telecom Reports Strong Growth in 2022, Plans to Transform into an AI Company.

SK Telecom (NYSE: SKM) has reported a 3.3% increase in consolidated revenue and a 16.2% increase in operating income for 2022, according to K-IFRS figures.

The growth was driven by solid performance in fixed and mobile telecommunications, media, and enterprise business areas.

On a non-consolidated basis, the company reported a 2.6% increase in revenue to KRW 12.415 trillion ($ 9.87 billion) and an 18.6% increase in operating profit to KRW 1.321 trillion ($ 1.05 billion) year-on-year.

Net income was KRW 869.5 billion, down 60.8% year-on-year due to the exclusion of equity method earnings from SK Hynix.

SK Telecom’s fixed and mobile businesses saw continued growth, with the 5G customers reaching 13.39 million, accounting for more than 50% of mobile customers.

The media business recorded a 20.8% increase in revenue to KRW 1.537 trillion, driven by solid market leadership in fixed and mobile and growth in content, advertising, and eCommerce.

The enterprise business, which focuses on data centers and the cloud, recorded year-on-year revenue growth of 12.5% to KRW 1.509 trillion.

In AIVERSE, the T Universe platform achieved a total GMV of KRW 570 billion, exceeding the target set for 2022. ifland, SKT’s metaverse service recorded over 10% of monthly active users in overseas markets.

SK Telecom plans to transform into an AI company.

It will focus on in-house technology development and partnerships in language models and the official launch of AI in Korea.

The company has also selected urban air mobility (UAM) as one of its key future services and formed a consortium to participate in UAM projects in Korea.