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SK Telecom garnering 2 million 5G subscribers

Since the launch of its 5G smartphone in April this year, SK Telecom has captured the largest 5G market share in South Korea with over 530,000 subscribers in late June. The company expects the number of its 5G subscribers to surpass two million by this year-end.

Backed by the increase of IPTV and UHD subscribers, its media business segment’s revenue increased by 15.2% year-on-year (YoY) and 2.1% QoQ to KRW322.1 billion (US$264 million). The company is now preparing for a giant leap forward in the second half of the year by integrating Korean’s homegrown VoD brands – ‘oksusu’ and ‘POOQ’ – to form a representative OTT service in the country.

Furthermore, SK Telecom will drive a merger between SK Broadband and t-broad, an MSO (multiple system operator), to create a ‘Total Media Company’ targeting more than eight million subscribers.

“SK Telecom will continue to maintain its market leadership in 5G,” said Yoon Poong-young, chief financial officer of SK Telecom.

“We expect our enterprise value to be re-evaluated by continuously expanding new ICT business centred on media, security and commerce.”

Image Credits: SK Telecom press room

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