SK Telecom confirmed that customer information, specifically subscriber identification device (USIM) information, was stolen in a hacking attack, leading to increased customer churn to competitors. However, it did not disclose the specific scale of the churn. The company also did not provide an exact estimate of the revenue impact resulting from the suspension of new subscriber recruitment.
Yun Jae-woong, the head of marketing strategy at SK Telecom, said during a conference call following the announcement of the first quarter 2025 earnings on the 12th that "it is true that there was some confusion and dissatisfaction among customers as there was a rush for USIM replacements and subscriptions to USIM protection services in the early stages of the hacking incident," and noted that "the number of customers who switched to other carriers has confirmed to be significantly higher than usual." He added, "Considering that customers are the company's most important asset and the foundation for generating medium- to long-term revenue, a certain level of expense will be inevitable to secure trust," and emphasized that "we will continue to monitor the situation and respond to ensure customer protection and market stabilization."
From the announcement of the incident on the 22nd of last month to the 8th of this month, a total of 274,743 customers switched to KT and LG Uplus from SK Telecom. This translates to about 18,000 customers churning daily based on business days. While conducting free USIM replacements, SK Telecom has fully suspended new subscriber recruitment, including number transfers, at over 2,600 T World stores nationwide since the 5th.
Yun also explained regarding this matter that "we are temporarily suspending new subscriber recruitment in accordance with the guidance from the Ministry of Science and ICT," and noted that "the timing of when new recruitment will resume has not yet been decided." The Ministry of Science and ICT requested SK Telecom to halt new subscriber recruitment to address the shortage of USIM supply. The company plans to initiate discussions about resuming recruitment once the demands for replacements decrease, as it has already completed automatic subscriptions for all customers eligible for USIM protection services.
Regarding the revenue impact of the suspension of new recruitment, he stated that "it will vary depending on how long the suspension lasts," and added that "the timing of when new recruitment resumes will be disclosed in the future through voluntary announcements."
SK Telecom announced that for the first quarter of this year on a consolidated basis, the revenue was 4.4537 trillion won, operating profit was 567.4 billion won, and net profit was 361.6 billion won. Compared to the same period last year, revenue decreased by 0.5%, while operating profit increased by 13.8%. Net profit decreased by 0.1% compared to the first quarter of last year.