SK Telecom

SK Telecom is the largest mobile operator in South Korea. It sells mobile phone and data services, and through its wholly owned subsidiary SK Broadband it sells fixed-line Internet, IPTV and enterprise services. It also runs data centers and is building an AI business, including AI data centers. SK Telecom is part of the SK Group, which also includes SK hynix, the memory chip maker.

Operating revenue was W13.25 trillion in the first nine months of 2026, up 3.7% from a year earlier. The Korean mobile market has three main operators, and the government sets rules on prices, subsidies and spectrum. SK Telecom trades on the Korea Exchange, and its American depositary shares (SKM) trade on the NYSE.

The market prices SK Telecom for slow growth in a mature Korean mobile market, for the cost of a cybersecurity breach in 2025, and for the risk of large spending on AI data centers. After the USIM breach in April 2025, the company stopped new mobile subscriptions at retail stores until June 23, 2025, paid a fine of W134.8 billion in November 2025, and promised to invest W700 billion in information security over five years. Revenue in the first half of 2026 was 0.5% lower than a year earlier; in Q3 2026 it rose 13.1% from a weak Q3 2025 and 3.2% from Q2 2026. In June 2026, the company said it is reviewing a plan to build AI data centers with a total capacity of 15 gigawatts in phases, which can need large amounts of capital.

Korean stocks also often trade at lower values than similar companies in other markets, and part of the gap may last. For the gap to close, three things must be true. Operating income must stay near the level of 2026 so far, W1.66 trillion in the first nine months, or about W550 billion each quarter; Q3 2026 operating income was W552.3 billion, a little below the W566.0 billion of Q2 2026. The AI data center plan must be funded mostly by partners, as in the sale of 37% of SK Horizon, the new data center company, to KKR and IMM for about W1.88 trillion, planned for March 2027.

Mobile revenue must grow again as the effect of the breach fades. The full-year 2026 results, expected in February 2027, and the SK Horizon sale give the next tests. If these checks pass, the gap can close over the next four to eight quarters. The main reason it may not close is a large AI data center program funded with new debt, with returns that are not yet clear.

1. Nov 4, 2026Failed

   Q3 2026 results: revenue and operating incomeRevenue growth and operating income above the W566.0 billion of Q2 2026 pass; a fall in revenue or operating income fails.Outcome: Operating revenue rose 3.2% from Q2 2026 to W4.50 trillion, but operating income fell 2.4% to W552.3 billion, below the W566.0 billion of Q2 2026.
2. Feb 4, 2027 · est.Pending

   Q4 2026 and full-year resultsQ4 2026 operating income near W550 billion, for full-year operating income of about W2.2 trillion, passes; Q4 operating income far below W550 billion or a new breach cost fails.
3. Mar 2027 · est.Pending

   SK Horizon share sale closesThe sale to KKR and the IMM consortium closes for about W1.88 trillion with the planned new share issue passes; a delay past mid-2027 or a lower price fails.

Every passed and failed checkpoint across all picks

• November 4, 2026SK Telecom reported preliminary Q3 2026 results. Operating revenue was W4.50 trillion, up 13.1% from a weak Q3 2025 and 3.2% from Q2 2026. Operating income was W552.3 billion, down 2.4% from W566.0 billion in Q2 2026 and up from W48.4 billion in Q3 2025. Profit for the period was W411.8 billion. For the first nine months of 2026, operating revenue rose 3.7% to W13.25 trillion and operating income rose 73.6% to W1.66 trillion.
• October 29, 2026The board set November 30, 2026, as the record date for a Q3 2026 dividend of W830 per share, payable on December 17, 2026. The same day, an SK Telecom investment vehicle sold all its preferred shares of Penguin Solutions to a subsidiary of SK hynix for about $377 million.
• October 28, 2026SK Telecom said that it will hold its Q3 2026 earnings call on November 4, 2026, at 4:00 p.m. Seoul time, and publish the materials on its IR website that day.

Last earnings

November 4, 2026

Next earnings

Expected about February 4, 2027. The company has not confirmed the date.

• 20-FAnnual report for the period ended Dec 31, 2025Filed April 29, 2026 · Read it on sec.gov
• 20-FAnnual report for the period ended Dec 31, 2024Filed April 29, 2025 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1015650)

• The AI data center plan with a target of 15 gigawatts can need very large investment. If partners do not fund most of it, the company can add debt or cut dividends, and the returns are not yet known.
• The USIM breach in April 2025 led to a fine of W134.8 billion, a pause in new retail subscriptions and a W700 billion security program. Lawsuits for user damages or new security incidents can bring more costs and loss of customers.
• The Korean mobile market is mature and regulated. Government rules on prices, subsidies and spectrum, and competition from the two other operators and budget carriers, limit growth.
• SK Telecom is part of the SK Group and makes deals with affiliates, such as the purchase of a stake in SK hynix NAND Product Solutions. Such deals can serve group goals more than those of minority shareholders.

SK Telecom funds itself mostly with won bonds and some foreign currency bonds and bank loans. At June 30, 2026, debt was about W8.77 trillion: W7.28 trillion of long-term debentures, W1.06 trillion of debt due within one year, W300 billion of long-term borrowings and W130 billion of short-term borrowings. Read more

The dividend data after May 30, 2025 is missing.

Latest ex-dividend date

May 30, 2025, $0.333 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 36.7% a year.

One-off payments far above the usual dividend are left out of these numbers.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.