South Korean operator SK Telecom posted revenue of KRW 4.818 trillion for the second quarter of 2021, which represents an increase of 4.7 percent year-on-year. Operating income grew by 10.8 percent to KRW 396.6 billion. Net income reached KRW 795.7 billion, up 84 percent year-on-year, boosted by increased equity method gains from SK Hynix.
The combined total revenue of SK Telecom’s New ICT Businesses rose 10.1 percent year-on-year to KRW 1.57 trillion, sustaining a double-digit annual growth rate for five consecutive quarters since the second quarter of 2020. The MNO business posted revenue of KRW 3.022 trillion, up 2.7 percent, mainly boosted by the expanding 5G subscriber base.
SK Telecom ended June with 7.7 million 5G subscribers, following 960,000 customer additions in the second quarter. SK Telecom’s SK Broadband unit expanded its pay TV subscriber base to 8.81 million in the second quarter of this year. The Commerce business reported revenue of KRW 211 billion, up 9.6 percent year-on-year.
SK Telecom’s MNO business generated revenue of KRW 3.022 trillion in the period, up 2.7 percent year-on-year, and operating income of KRW 328.4 billion, up 21.7 percent.
SK Telecom and SK Broadband spent KRW 849.2 billion in capex in the second quarter, representing a growth of 285.3 percent quarter-on-quarter.
