TeleGeography Logo

Internet users boost SK Telecom’s first quarter results

6 May 2003

South Korea’s leading cellco, SK Telecom[17670.KS], has announced a profitable Q1 2003 with net income totalling KRW449 billion (USD372 million), a year-on-year increase of 1.1%. Sales rose by 16% to KRW2.2 trillion helping to boost operating profit by 13% to KRW751 billion, whilst recurring profit showed an increase of 2% at KRW650 billion. The company has attributed much of the success to strong subscriber growth and a surge in demand for mobile internet access. SK Telecom currently has 17.6 million customers, with a monthly ARPU of KRW42,895, translating to a 53.6% majority share of South Korea’s mobile market. The company says that almost a third of subscribers have colour display phones and are spending an average of KRW9,329 a month in accessing internet services. The results should allay concerns over SK Telecom’s Q4 2002 results which, in conjunction with accountancy scandal allegations, contributed to a share price fall of 22% over the first three months of this year; since the release of the Q1 2003 results shares have risen 5.4%.

South Korea

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.