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SK Telecom to split into two, keep data center business

SK Telecom to split into two, keep data center business

  • Time of Issue:2022-09-08

(Summary description)South Korean telco SK Telecom this week announced its plans to split the company into two and spin-off most of its subsidiaries into a holding company. The company said the ‘surviving’ SK Telecom will continue with SK Broadband, the second-largest broadband service provider in Korea, and expand in digital business areas such as cloud, data center and subscription-based services. The spin-off company will focus on investment activities, including both domestic and overseas semiconductor companies. It will also house the likes of chip company SK Hynix, e-commerce company 11StreetCo, and ride-sharing app T Map Mobility. In a statement, the company said the spin-off will allow the company’s investment activities to ‘be proceeded in a swifter manner’ and promote IPOs of its subsidiaries. The spin-off is due to be completed before the end of the year.

SK Telecom to split into two, keep data center business

(Summary description)South Korean telco SK Telecom this week announced its plans to split the company into two and spin-off most of its subsidiaries into a holding company.



The company said the ‘surviving’ SK Telecom will continue with SK Broadband, the second-largest broadband service provider in Korea, and expand in digital business areas such as cloud, data center and subscription-based services.



The spin-off company will focus on investment activities, including both domestic and overseas semiconductor companies. It will also house the likes of chip company SK Hynix, e-commerce company 11StreetCo, and ride-sharing app T Map Mobility. In a statement, the company said the spin-off will allow the company’s investment activities to ‘be proceeded in a swifter manner’ and promote IPOs of its subsidiaries. The spin-off is due to be completed before the end of the year.

  • Time of Issue:2022-09-08
Information

 

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South Korean telco SK Telecom this week announced its plans to split the company into two and spin-off most of its subsidiaries into a holding company.

 

The company said the ‘surviving’ SK Telecom will continue with SK Broadband, the second-largest broadband service provider in Korea, and expand in digital business areas such as cloud, data center and subscription-based services.

 

The spin-off company will focus on investment activities, including both domestic and overseas semiconductor companies. It will also house the likes of chip company SK Hynix, e-commerce company 11StreetCo, and ride-sharing app T Map Mobility. In a statement, the company said the spin-off will allow the company’s investment activities to ‘be proceeded in a swifter manner’ and promote IPOs of its subsidiaries. The spin-off is due to be completed before the end of the year.

 

Last year SK announced it would develop a massive hyperscale data center campus in the Saemangeum area of South Korea. The company said it plans to build four data center buildings by the year 2024 with a further 12 more data center buildings to be added by 2029, with SK E&S operating a 200MW floating solar farm as part of the deal.

 

SK Hynix recently announced plans for a $106 billion fab complex south of Seoul.

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