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무선에 회사 역량 집중

SK Telecom (SKT) will focus on its core competencies, the wireless business and more specifically the wireless Internet (WI).

SKT made an announcement today clarifying its position on the fixed line telecommunications business and the forthcoming Powercomm auction. In addition, SKT stated that it will not participate in any wired or Internet businesses unless there are clear demonstrable synergies that would visibly strengthen its wireless businesses, including WI. As part of this refocusing, SK Telecom has made the following decisions with respect to its existing fixed line activities:

1. SKT will not enter the high-speed Internet market through SK Waycom
SKT has informed the participating companies in SK Waycom that it will terminate its involvement in the venture. SKT had planned to form an alliance with the SO’s, utilizing their networks to enter the broadband market to test market services, thereby minimizing the investment requirement and risk. However, in light of the limited market opportunity, SKT has decided to re-channel its efforts to the wireless business.

2. SKT will not participate in the second round of Powercomm bidding
SKT, a 5%-owner of Powercomm, has decided not to participate in the second-round bidding for Powercomm. SKT has already realized sizeable benefits from its 5% stake. For instance, it has been able to lower leased line costs by including Powercomm as a competing supplier to Korea Telecom, the dominant supplier in Korea. The Company believes that its existing 5% stake is sufficient to allow it to realize cost savings on an ongoing basis. Therefore, SKT believes there is no compelling reason for the Company to participate in the second-round auction.

3. SKT to sell Hanaro Telecom shares
Since Hanaro Telecom’s business goals have become inconsistent with those of SKT’s, and the Company believes it will not benefit from holding Hanaro Telecom shares as a long-term investment, SKT has decided to sell its 6.12% holding in Hanaro Telecom. The 16,167,710 shares of Hanaro Telecom were purchased at KRW 161,887 mn and are currently booked at KRW 37, 024 mn. Although the exact timing of the sale has not been determined, SKT plans to sell the shares in such a way as to minimize the impact on the share price.


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