SK Telecom Files 2023 Annual Business Report

TL;DR

SK Telecom dropped its 2023 annual report on 4/18.

AI Summary

SK Telecom Co., Ltd. filed a Form 6-K on April 18, 2024, to submit its Annual Business Report for the period January 1, 2023, to December 31, 2023. This report, originally prepared in Korean, has been translated and reformatted for convenience. The company, formerly known as Korea Mobile Telecommunications Corp, is based in Seoul, Korea.

Why It Matters

This filing provides stakeholders with an overview of SK Telecom's business performance and operations for the fiscal year 2023, as required by regulatory bodies.

Risk Assessment

Risk Level: low — This is a routine annual report filing and does not contain new material financial information or significant corporate events.

Key Players & Entities

• SK Telecom Co., Ltd. (company) — Registrant
• Korea Mobile Telecommunications Corp (company) — Former company name
• April 18, 2024 (date) — Filing date
• 2023 (date) — Reporting period

FAQ

Filing Documents

• d814688d6k.htm (6-K) — 5746KB
• g814688dsp00.jpg (GRAPHIC) — 3KB
• g814688sp221.jpg (GRAPHIC) — 3KB
• g814688sp339.jpg (GRAPHIC) — 3KB
• 0001193125-24-099495.txt ( ) — 5760KB

business

business On December 21, 2021, the Board of Directors resolved to approve an agreement for the transfer of the Companys AI semiconductor business to facilitate the commercialization of the Companys AI semiconductor technology and to improve management efficiency. The transfer was completed on January 4, 2022. * See the report on Decision on Business Transfer filed by the Company on December 22, 2021, for more information. [SK Broadband] (1) Transfer of business On April 5, 2019, SK Broadbands board of directors resolved to approve an agreement for the transfer of its OTT service, oksusu, to Content Alliance Platform (POOQ), a joint venture among KBS, MBC and SBS. The transaction was completed on September 18, 2019. (2) Transfer of subsidiary shares On April 24, 2019, SK Broadbands board of directors approved the transfer of its 100% equity interest (3,631,355 shares) in SK Stoa, a subsidiary of SK Broadband, to SK Telecom. On December 30, 2019, the Ministry of Science and ICT (MSIT) approved the change in the largest capital contributor, and the transaction was completed on January 3, 2020. (3) Merger of Tbroad, Tbroad Dongdaemun Broadcasting Co., Ltd. (Tbroad Dongdaemun) and Korea Digital Cable Media Center (KDMC) with and into SK Broadband (the Tbroad Merger) On April 26, 2019, SK Broadbands board of directors resolved to enter into a merger agreement pursuant to which Tbroad, Tbroad Dongdaemun and KDMC merged with and into SK Broadband. On January 23, 2020, the parties entered into an amendment to the merger agreement due to changes in the merger timeline, and on March 26, 2020, the entry into the merger agreement was approved as proposed at the extraordinary general meeting of shareholders. The Tbroad Merger was completed as of April 30, 2020. (4) Transfer of

business

business On July 30, 2020, SK Broadbands board of directors resolved to approve a certain mobile virtual network operator (MVNO) Business Transfer Agreement in connection with the sale of its MVNO business to Korea Cable Telecom Co., Ltd. The sale was a follow-up measure to, and a condition to MSITs approval of, the Tbroad Merger, and was carried out pursuant to the terms of the merger agreement for the Tbroad Merger. The transfer was completed on August 31, 2020. (5) Acquisition of business On December 4, 2020, SK Broadband entered into a certain business transfer agreement to acquire the business-to-business (B2B) business of SK Telink Co., Ltd. (SK Telink) with the purpose of strengthening the market competitiveness of the B2B business through a reorganization of such business within the wider ICT business of the SK Group. The transfer was completed on March 31, 2021. (6) Establishment of a subsidiary and acquisition of shares On January 5, 2021, SK Broadband established Media S Co., Ltd., a subsidiary engaged in the production and supply of broadcasting programs, through a capital contribution of Won 23.0 billion (representing a 100% equity interest), and the subsidiary was added as a member of the SK Group as of March 2, 2021. On June 22, 2022, SK Broadband acquired 5,000,000 additional shares of Media S Co., Ltd. for Won 25 billion through a capital increase by allocation to shareholders. (7) Merger On March 30, 2022, SK Broadbands board of directors approved the merger contract with Broadband Nowon Broadcasting Co., Ltd., as originally proposed. On October 5, 2022, the merger was completed. (8) Transfer of business On December 27, 2023, the board of directors and the shareholders of Home & Service Co., Ltd. (Home & Service), a subsidiary of SK Broadband, resolved to transfer Home & Services electric vehicle standard-charge business. 8 [SK Telink] (1) Change in location of headquarters As of April 20, 2020, SK Telink changed the locat

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View this 6-K filing on SEC EDGAR