SK Telecom’s Spin-Off Company Named SK Planet
The name reflects the willingness of the Platform Business to realize limitless possibilities by navigating a vast world full of new adventures and unknown dreams
SK Planet will provide platform-related services like T Store, T Map, Commerce and New Media from 1 Oct.
Hong Kong, 15 September 2011 – SK Telecom (NYSE:SKM) announced today the official name of its spin-off company. The new business entity, tentatively called Platform Company, will use ‘SK Planet’ as its official name upon its launch on 1 Oct. 2011.
The name ‘SK Planet’ was derived from the word ‘planet’ to describe a world full of new adventures and unknown dreams, and at the same time, it is a combined word that integrates ‘Platform’ and ‘Networking’ to reflect the company’s willingness to build platform-based relationships with new people, new transactions, and new societies.
In particular, the name displays the company’s forward-looking philosophy to create a world where limitless possibilities of platform business are achieved in an imaginary space.
As a 100 percent non-listed subsidiary of SK Telecom, SK Planet will start offering diverse platform services including T Store, T Map, Commerce and New Media. SK Planet is determined to be the first to develop and launch innovative services strong enough to dominate the market by staying a step ahead of the market trends. Moreover, it will focus on realizing mid-to long-term growth rather than short-term profitability by building an organizational culture that creates innovations through the spirit of change and challenge.
About SK Telecom
SK Telecom (NYSE: SKM, KSE: 017670) is Korea’s leading telecommunications provider with more than 26 million subscribers, which accounts for more than 50% of the total market. The company established in 1984, reached KRW 12.46 trillion in revenue in 2010. SK Telecom was the first to launch and commercialize CDMA, CDMA 2000 1x, CDMA EV-DO and HSDPA networks, and it currently provides cellular, wireless internet, mobile media, global roaming service and more. For more information, please visit www.sktelecom.com or email to press@sktelecom.com.
Media Contact:
Lauren H. Kim
SK Telecom Co. Ltd.
(822) 6100-3830
hyunkim@sk.com
Irene Kim
SK Telecom Co. Ltd.
(822) 6100-3834
gahaekim@sk.com
Company Name: SK Planet Co., Ltd. (www.skplanet.co.kr)
President & CEO: So, Jin-Woo
Launch Date: 1 October 2011
Address: 11, Euljiro2-ga, Jung-gu, Seoul 100-999
Capital: KRW 30 billion
Main Business Areas:
– Digital Contents: T Store, T Map
– Commerce: 11st
– New Media: ‘hoppin’
– Future Distribution: Imagine
Main Subsidiaries:
SK Communications, LOEN, Commerce Planet, Paxnet, TMK
