SK Telecom set a goal to lift its market share, which fell in the aftermath of last year's hacking incident, to around 40% by the end of this year. At the shareholders meeting, key agenda items, including converting capital reserves to pursue tax-exempt dividends, appointing directors, and amending the articles of incorporation, passed as originally proposed.
SK Telecom said on the 26th it held its 42nd shareholders meeting at T Tower in Euljiro, Seoul, and approved the 2025 financial statements, partial amendments to the articles of incorporation, and director appointments. On a consolidation basis last year, revenue was confirmed at 17.0992 trillion won and operating profit at 1.0732 trillion won, and the dividend per share was set at 1,660 won.
Jung Jai-hun, SK Telecom chief executive officer (CEO), met with reporters after the meeting and, on the plan to regain market share, said, "This year we are aiming for a net increase in the number of subscribers," adding, "If we work hard, I think we could reach around 40% by year-end." He added, "In January–February, we met those expectations to some extent."
An agenda item to convert 1.7 trillion won of capital reserves into retained earnings to pursue tax-exempt dividends also passed at the meeting. The funds could be used as early as the year-end dividends once the financial statements are finalized. If taxes are not imposed on dividend income, shareholders can expect an effective increase in dividends.
The proposal to appoint directors was also approved. President Jung Jai-hun and Han Myeong-jin, head of the MNO CIC, were appointed as inside directors, and Yoon Poong-young, president in charge at SK SUPEX Council, was appointed as an other non-executive director. As outside directors, Lee Seong-yeop, professor at Korea University Graduate School of Management of Technology, and Lim Tae-seop, professor at Sungkyunkwan University GSB, were newly appointed, and both will also serve on the audit committee.
SK Telecom also said that of its 1,797,787 treasury shares, which account for 0.84% of total outstanding shares, 196,475 shares will be used for employee compensation, and the remainder will be canceled after a future board resolution. Along with this, an amendment to the articles of incorporation to provide grounds for concurrently holding electronic shareholders meetings and to change the title of outside directors to "independent directors" also passed.