SK Telecom (SKT) announced its financial results for the second quarter of 2024, with revenue reaching KRW 4.4224 trillion (approximately $3.36 billion), operating income of KRW 537.5 billion (approximately $408 million), and net income of KRW 350.2 billion (approximately $266 million).
A key highlight of the quarter was the company’s strategic push into the AI sector, marked by securing its first AI cloud order from domestic internet service providers. SKT plans to scale up its AI cloud business significantly as part of its broader strategy to build a comprehensive AI value chain, including AI Data Centers and services. The company has invested over $300 million since last year to establish a strong foundation in AI, with further plans to invest $200 million in SMART Global Holdings to enhance its AI infrastructure capabilities.
- SKT reports Q2 2024 earnings with consolidated revenue of KRW 4.4224 trillion (~$3.36 billion).
- The company secured its first AI cloud order, planning significant expansion in the AI sector.
- Over $300 million invested in AI since last year, with a focus on AI Data Centers.
- SKT to invest $200 million in SMART Global Holdings for AI infrastructure development. The company continues to grow its mobile, pay TV, and broadband subscriber base.