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Key Information

SK Broadband
Hangul
SK브로드밴드
Revised RomanizationSK Beurodeubaendeu
McCune–ReischauerSK Pŭrodŭbaendŭ

SK Broadband, Inc. KRX: 033630, formerly known as Hanaro Telecom, is a Seoul-based telecommunications company and a wholly owned subsidiary of SK Telecom. It is one of the largest broadband Internet access providers in South Korea. Until its takeover in 2008, Hanaro controlled nearly half of the Korean landline market, as it was the only last mile-competitive local exchange carrier (CLEC) other than the state-owned KT Corp. SK Broadband also has a division known as "Broad &" that controls a large portion of the South Korean calling card market.

In October 2014, SK Broadband unveiled the world's first 10 Gbit/s Internet service at the ITU Plenipotentiary Conference. The new Internet service is 100 times faster than existing LAN services in South Korea, which deliver download speeds of 100 Mbit/s.[3][4]

History

[edit]

Originally a domestic fixed-line carrier, Hanaro Telecom entered the broadband market in 1999[5] and grew from there to become a ‘Triple-Play’ provider with VoIP service, broadband Internet and an IPTV service branded as B.TV. In addition, Hanaro Telecom provides leased line services and IDC services to its corporate clients.[6]

Since 2000, Hanaro has participated in the Cisco Powered Network Program, a joint marketing program between Cisco and network service providers which offers public services over a network powered by Cisco Systems equipment. Hanaro Telecom and Korea Thrunet shared about 45 percent of the broadband market, with Korea Telecom, South Korea's incumbent telecommunications operator, commanding around 50 percent as of 2002.[7] To consolidate its position in the broadband market, Hanaro acquired its second largest rival, Korea Thrunet, in March 2005 for 471.4 billion won ($460 million); the final price was five percent less than Hanaro's original offer to outbid Dacom.[8]

In February 2008, Hanaro Telecom was acquired by local wireless giant SK Telecom for 1.09 trillion won ($1.2 billion).[9] Its new name, SK Broadband, was adopted in September 2008. In 2015, SK Telecom bought all of SK Broadband's stocks in a stock swap deal, the deal was finalized on July 1, 2015, and SK Broadband became a wholly owned subsidiary of SK Telecom.

In November 2015, SK Telecom agreed to acquire a 30% stake in competitor CJ HelloVision for KRW 500 billion.[10] The acquisition will make SK Broadband the No. 2 paid cable broadcaster in South Korea, following KT.[citation needed]

In September 2021, SK Broadband sued American pay television service Netflix to pay for the increased network costs and bandwidth which it blames on popular shows such as Squid Game.[11] SK Broadband claims that Netflix’s traffic on the ISP network has exponentially increased about 24 times, from 50 Gigabits per second in May 2018 to 1,200 Gigabits in September 2021.[12]

Stock market listings

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See also

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References

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SK Broadband

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SK Broadband Co., Ltd. is a leading South Korean telecommunications company that provides broadband internet, (IPTV), fixed-line , and services to residential, business, governmental, and wholesale customers. As a wholly owned of , it is headquartered in and focuses on leveraging (AI) to enhance media platforms and expand digital infrastructure. The company operates under the ticker symbol 033630 on the (KRX). Founded in 1997 as Hanaro Telecom, SK Broadband pioneered the commercialization of asymmetric digital subscriber line (ADSL) technology in and became the first provider in to launch IPTV services. It was acquired by in 2007, marking its integration into the larger ecosystem, and underwent a significant merger with cable operator t-broad Co., Ltd. in , which bolstered its subscriber base to over 8 million paid users and 6.4 million high-speed customers at the time. This merger transformed SK Broadband into a hybrid media and communications platform, emphasizing content delivery and network innovation. Today, SK Broadband's flagship IPTV service, B tv, delivers personalized content recommendations powered by AI, including tailored programming for families, seniors, and single households, in partnership with technologies from . As of the second quarter of 2025, the company reported approximately 9.8 million total subscribers, including 6.9 million IPTV users, reflecting steady growth in its and media segments amid South Korea's competitive telecom market. Under the leadership of CEO Jin-Hyo , SK Broadband continues to invest in AI-driven services and data centers to support emerging technologies like and .

Overview

Company profile

SK Broadband Co., Ltd. is a major South Korean telecommunications company specializing in fixed-line services, headquartered in Seoul, South Korea. Originally founded on September 23, 1997, as Hanaro Telecom, Inc., it was acquired by SK Telecom in 2007 and rebranded as SK Broadband on September 22, 2008. The company is led by CEO Park Jin-Hyo (since August 2023) and President Kim Seong-su (since October 2025). As a wholly owned of , SK Broadband focuses on core business areas including fixed-line , high-speed , IPTV services, and related offerings. It serves a substantial subscriber base, with approximately 9.8 million total subscribers, including 6.9 million IPTV users, as of the second quarter of 2025. The company merged with cable operator t-broad in 2020, which bolstered its subscriber base to over 8 million paid users at the time. Key milestones underscore its pioneering role in the sector: Hanaro Telecom launched Korea's first commercial service in April 1999, revolutionizing high-speed in . Additionally, the company introduced Korea's first full-scale IPTV service in 2007, paving the way for integrated video delivery over broadband networks.

Ownership and corporate structure

SK Broadband, originally established as the independent Hanaro Telecom in 1997, transitioned to full integration within the following its acquisition by . In December 2007, agreed to acquire a 38.89% controlling stake in Hanaro Telecom for KRW 1.087 trillion at KRW 11,900 per share. The deal received conditional approval from 's competition authorities in February 2008 and was completed in March 2008, after which Hanaro Telecom rebranded as SK Broadband in September 2008. The ownership structure evolved further when SK Telecom pursued complete control. On March 20, 2015, SK Telecom's approved a share exchange to acquire all remaining shares of SK Broadband, resulting in its status as a wholly owned effective July 1, 2015. This transaction led to SK Broadband's delisting from the (KRX) on June 30, 2015, shifting it from a publicly traded entity to a private fully aligned with SK Telecom's strategic objectives. Within the broader SK Group chaebol, SK Broadband holds a pivotal position as a wholly owned of SK Telecom, a major operating affiliate under , the group's responsible for portfolio management and synergy across sectors like and digital services. oversees the conglomerate's structure, which includes over 175 companies focused on areas such as , materials, and IT, ensuring coordinated and resource allocation. Regarding subsidiaries and affiliates, SK Broadband maintains no major independent entities but operates in deep integration with SK Telecom's ecosystem, leveraging shared infrastructure and services. In May 2025, it acquired the business from affiliate SK C&C, bolstering its role in the group's digital infrastructure without establishing standalone . SK Broadband's governance structure features a comprising internal executives and representatives aligned with SK Telecom's oversight. Key figures include CEO Park Jin-Hyo (appointed August 2023), President Kim Seong-Su (appointed October 2025), and directors such as Jong-Seok Park and Sung-Won Choi. As a wholly owned of a KRX-listed parent, it adheres to South Korean regulatory standards for , including compliance with the Monopoly Regulation and Fair Trade Act and telecommunications-specific oversight by the Korea Communications Commission.

History

Founding and early development

Hanaro Telecom was established on September 26, 1997, as Korea's second local telecommunications carrier through a consortium of seven major shareholders, including entities affiliated with the LG Group. The company was formed to challenge the monopoly of the state-owned Korea Telecom (KT) by providing competitive local telephony services under a license granted by the Ministry of Information and Communications. In April 1999, Hanaro Telecom entered the market by launching South Korea's first commercial () service, initially available in five major cities including and . This move capitalized on the growing demand for high-speed , quickly gaining subscribers and establishing Hanaro as a key player in the nascent sector. Concurrently, the company rolled out fixed-line voice services on April 1, 1999, intensifying competition against KT by offering lower rates and innovative packages to attract residential and business customers throughout the 2000s. To bolster its broadband presence, Hanaro acquired Korea Thrunet, its smaller rival, in March 2005 for KRW 471.4 billion, which included cash payments and assumed debt, thereby consolidating its to nearly 30%. However, the early brought significant challenges, including fierce price competition from KT, mounting operational costs from network expansion, and cumulative financial losses exceeding KRW 1 trillion by 2003, prompting and foreign investment infusions to stabilize operations. In , Hanaro introduced IPTV services under the hanaTV brand as an early foray into multimedia delivery.

Acquisition by SK Telecom and rebranding

In December 2007, announced its agreement to acquire a controlling 38.9% stake in Hanaro Telecom for KRW 1.09 trillion (approximately $1.2 billion USD), aiming to expand into the fixed-line and markets. The deal received conditional approval from South Korea's Fair Trade Commission in February 2008, with final completion occurring in March 2008, marking 's entry into integrated services. Following the acquisition, Hanaro Telecom was renamed SK Broadband on September 22, 2008, and integrated into SK Telecom's portfolio as a , aligning its operations with the parent company's mobile-focused . Immediate post-acquisition changes included operational consolidation, such as streamlining network infrastructure and staff integrations to reduce redundancies, while shifting toward bundled offerings combining , and IPTV services to enhance . This and integration positioned SK Broadband as a key asset in SK Telecom's diversification efforts. On July 1, 2015, SK Telecom completed the transition to full ownership of SK Broadband through a comprehensive share exchange valued at approximately KRW 700 billion, making it a wholly owned and leading to considerations for delisting from the , which occurred shortly thereafter. This move further centralized control and supported synergies in service delivery. The acquisition and subsequent developments significantly bolstered SK Broadband's market position, enabling SK Telecom to compete more effectively against incumbents like and by offering comprehensive bundled packages and leveraging combined infrastructure for broader .

Expansion, innovations, and recent developments

Following the 2008 acquisition by , which laid the foundation for integrated growth, SK Broadband underwent significant post-rebranding expansion, including enhancements to its IPTV offerings and broadband infrastructure. SK Broadband, operating under its previous name Hanaro Telecom, launched its IPTV service known as Hana TV in July 2006, attracting over 500,000 subscribers by mid-2007 through triple-play bundles combining TV, internet, and . Post-2008 rebranding to B.tv, the service expanded with interactive features, mobile integration via BTV mobile in 2012, and AI-driven personalization, evolving into a core media platform serving millions of households by 2020 after merging with t-broad Co., Ltd. in 2020. A key innovation milestone came in October 2014, when SK Broadband showcased a demonstration of 10 Gbit/s service using XGS-PON technology at the ITU in , enabling ultra-high-speed fiber connections up to 100 times faster than standard at the time. Network expansions have focused on fiber optic investments and synergies with SK Telecom's ecosystem, including the deployment of 5G-PON technology to support both fixed and wireless backhaul, ensuring seamless integration for enhanced coverage and data throughput across . In recent years, these efforts have included AI-enhanced fiber sensing in collaboration with to monitor and optimize optic networks for reliability. In 2024, SK Broadband partnered with to deploy a quantum-secure network for (KHNP), completed in August, utilizing Quantum-Safe MACsec encryption to protect critical IT infrastructure from cyber threats, including those from advances. Amid broader corporate restructuring at parent company , which included a 30% reduction in executive ranks announced in November 2025, SK Broadband implemented a voluntary program in October 2025, offering severance packages up to KRW 500 million to streamline operations and adapt to AI-focused shifts. Through SK Telecom's initiatives, SK Broadband has contributed to AI infrastructure development, including the expansion of the Ulsan AI Data Center (AIDC) to a 1 GW capacity by 2025 and plans for a new LNG-powered facility in Vietnam as a Southeast Asian hub for AI training and cloud services. In 2021, SK Broadband faced a high-profile legal dispute with Netflix over network usage fees amid surging traffic from "Squid Game," though the case was settled amicably in 2023 with a partnership agreement.

Services and products

Broadband internet services

SK Broadband provides a range of internet services primarily through fiber-to-the-home (FTTH) technology, catering to both residential and business customers across . The company offers plans starting from basic speeds suitable for everyday use up to ultra-high-speed options, with symmetric download and upload capabilities emphasized for modern applications like streaming and . The portfolio includes entry-level plans with speeds around 100 Mbps, scaling to gigabit levels that are widely available nationwide, and premium tiers reaching 10 Gbps symmetric speeds, which were first introduced commercially in 2014. These high-speed plans support bandwidth-intensive activities, with 1 Gbps options serving as a standard for most urban households by 2025. Pricing varies by speed and contract length, typically bundled with installation and router provisions to ensure seamless setup. Coverage extends nationwide via an extensive fiber optic network, providing high-speed access to urban centers, suburbs, and rural regions, with ongoing expansions to bridge digital divides. This infrastructure enables reliable service, focusing on both residential users seeking home connectivity and businesses requiring dedicated lines for operations. Bundling options integrate SK Broadband's internet services with SK Telecom's mobile plans, offering discounts of up to 20% on combined subscriptions and unified billing for convenience. These packages appeal to multi-device households, providing cost savings and streamlined management of data usage across fixed and wireless networks. As one of South Korea's top three broadband providers, SK Broadband holds approximately 29% in fixed , trailing KT but ahead of smaller competitors, and competes aggressively on speed and uptime metrics. Its services rank highly in national speed tests, contributing to South Korea's position among global leaders in fixed performance. Key innovations include early adoption of technology, with SK Broadband pioneering 2.5 Gbps GPON commercialization in 2006 for scalable bandwidth delivery, and subsequent upgrades to support 10 Gbps and beyond. The company also transitioned from initial services launched in 1999 to and full FTTH for enhanced efficiency and future-proofing. These advancements have positioned SK Broadband as a leader in delivering reliable, high-capacity to diverse user segments.

IPTV and media services

SK Broadband's IPTV service, branded as B.tv, was launched in July 2006 as the first IPTV platform in , providing , video-on-demand (VOD), and streaming content over . The service initially offered basic channel packages and has since evolved into a comprehensive media platform, integrating with SK Broadband's fiber-optic network to deliver high-quality video services to residential and business users. By early 2025, B.tv served approximately 6.8 million IPTV subscribers, contributing to SK Broadband's total pay-TV base of 9.6 million, which includes both IPTV and cable offerings. B.tv's content ecosystem relies on strategic partnerships with major Korean broadcasters such as KBS, SBS, and MBC, enabling access to live domestic channels and integrated streaming via platforms like Wavve. International collaborations include deals with for seamless bundled access to global shows and films on B.tv set-top boxes and mobile apps, as well as agreements with to distribute original Korean dramas and variety content. SK Broadband also invests in original content production through its subsidiary Media S, which operates dedicated channels featuring celebrity-hosted programs to enhance viewer engagement. Key features of B.tv include support for 4K UHD streaming and VOD, time-shift viewing for pausing and rewinding live broadcasts, and interactive functionalities like multi-screen support for simultaneous viewing on multiple devices. Recent advancements incorporate AI-driven personalization, such as viewer recognition and tailored recommendations, along with voice command integration via the B.tv A. service for content search and control, launched in 2024. In October 2025, SK Broadband introduced AI AQUA, an AI system that analyzes data to preemptively resolve B.tv service issues. The platform extends to smart home compatibility through services on compatible set-top boxes, allowing seamless integration with connected devices for enhanced user experiences. Building on its cable TV legacy from the 2020 merger with t-broad, SK Broadband has transitioned many traditional cable subscribers to B.tv, offering hybrid options that combine IPTV with legacy cable infrastructure for broader coverage. For businesses, the service includes solutions that provide dedicated, secure IPTV delivery for enterprise environments, supporting high-bandwidth video applications without relying on public . Subscriber growth for B.tv has been closely linked to broadband bundles, where IPTV is often packaged with high-speed services to attract households, particularly through family-oriented plans that emphasize kid-friendly content and multi-user profiles. These bundles, such as those incorporating or educational channels, have driven adoption by simplifying subscriptions and catering to diverse demographics like families and seniors.

Voice and other telecommunications services

SK Broadband provides fixed-line telephone services, encompassing traditional (PSTN) lines for residential customers, as well as voice over (VoIP) options that leverage IP-based infrastructure for both residential and business users. These services include local calls, domestic long-distance, and international telephony, supporting reliable voice communication with features like and integration. SK Broadband's VoIP subscriber base contributes significantly to its fixed-line operations. For enterprise needs, SK Broadband offers leased lines as dedicated high-capacity connections, utilizing technologies such as Multi-Protocol Label Switching (MPLS) and International Private Leased Circuits (IPLC) to ensure low-latency, secure data transmission between business locations. These services are tailored for small and medium-sized enterprises (SMEs) as well as large corporations, providing scalable bandwidth options from 100 Mbps to multi-gigabit speeds for applications like video conferencing and real-time data exchange. Ethernet-based leased lines further enhance flexibility, allowing seamless integration with existing corporate networks for enhanced reliability. In enterprise solutions, SK Broadband delivers data center connectivity and cloud integration services, partnering with providers to offer software-defined wide area networks (SD-WAN) that optimize traffic routing and reduce costs for hybrid cloud environments. Security features include network protection services such as virtual private networks (VPNs) and firewall integrations, designed to safeguard sensitive business data against cyber threats. These offerings emphasize reliability and are positioned within the SK Group ecosystem, enabling synergies with SK Telecom's mobile services for comprehensive connectivity solutions targeted at SMEs and multinational corporations. Additional services encompass public hotspots under initiatives like nWiFi zones, providing seamless access in urban areas for mobile users, and pilot programs for IoT connectivity that support device-to-network integration for industrial applications. Bundled security packages combine these with antivirus and endpoint protection for residential and customers, often integrated with voice services for all-in-one protection.

Operations and technology

Network infrastructure

SK Broadband's fiber optic network forms the core of its broadband delivery, featuring extensive Fiber to the Home (FTTH) deployment across major South Korean cities, serving approximately 7.2 million high-speed subscribers and holding a 28.9% as of December 31, 2024. The includes dual-path and quad-path backbone configurations between switching centers, with 12 critical facilities dualized in 2024 to enhance connectivity and scalability. This network supports seamless integration with SK Telecom's broader ecosystem, enabling high-capacity data transmission while covering urban and regional areas through thousands of kilometers of fiber optic cabling. The company operates a network of owned and leased data centers, primarily located in and surrounding regional hubs such as (Pangyo), Seocho (), and (north of ), with a total of nine facilities integrated into SK Telecom's for optimized operations. These centers support B2B enterprise services, including hyperscale AI data centers with modular and dedicated models, achieving a 13.1% year-over-year increase in 2024 through expanded capacity and GPU-as-a-Service offerings with power densities approximately nine times the domestic . SK Broadband's backbone capacity has undergone significant upgrades to accommodate multi-gigabit speeds. International connectivity is bolstered by systems, including the SJC2 undersea cable, which became operational in July 2025 and covers 10,500 kilometers across seven Asian countries with a total capacity of 126 Tbps, and the planned E2A transpacific cable under construction, spanning 12,500 kilometers with over 192 Tbit/s capacity and landing in , expected ready for service in 2028. Reliability is ensured through high uptime standards, achieving zero major outages in , supported by redundancy systems such as duplicated core facilities, multiple primary network access routes, layer and separation, and roaming agreements with other carriers. A 24/7 network control center oversees operations, backed by KRW 2.39 trillion in investments for wired and enhancements, with 221 facilities designated as critical communication and regular simulation drills for disaster recovery. Environmental sustainability is integrated into network operations via investments in green energy, achieving a 9.4% renewable energy ratio in 2024 from total consumption of 2,563,710 MWh, including 232 GWh via Green Premium procurement and 5.4 GWh from 4.9 MW on-site solar installations. These efforts, part of SK Telecom's RE100 commitment for 65% by 2030 and 100% by 2050, include a 50 MW with SK E&S starting in 2027 for 64 GWh annually, alongside AI-driven optimizations reducing emissions by approximately 90,000 tCO₂e annually, with environmental performance costs decreasing by KRW 125.3 billion in 2024 due to infrastructure investments offset by eco-friendly efforts.

Technological advancements and partnerships

SK Broadband has been at the forefront of broadband speed innovations, achieving several global milestones in fiber-optic technology. In October 2014, the company unveiled the world's first commercial 10 Gbps internet service at the ITU Plenipotentiary Conference in , enabling ultra-high-speed connectivity for residential and enterprise users over its existing fiber infrastructure. This service represented a 100-fold increase over standard gigabit offerings at the time, setting a benchmark for global providers. Building on this, SK Broadband collaborated with in 2016 to trial downstream speeds of up to 52.5 Gbps using advanced technology in a apartment complex, demonstrating the potential for multi-gigabit access in multi-tenant environments. In , SK Broadband has advanced quantum-safe networking to counter future cyber threats. In August 2024, it partnered with to deploy a quantum-secure network for (KHNP), utilizing quantum-safe MACsec to encrypt data in transit across KHNP's IP MPLS infrastructure in . This implementation protects sensitive operational data from both classical and quantum computing-based attacks, marking one of the first such deployments in the energy sector. SK Broadband contributes to AI and integration through its role in the ecosystem, supporting low-latency applications via . As part of SK Telecom's initiatives, it facilitates mobile edge computing (MEC) platforms like Petasus, launched in 2022 with , which virtualizes GPU resources for AI workloads at the network edge, reducing latency for services such as autonomous driving and remote robotics. Additionally, SK Broadband is involved in the development of AI-dedicated data centers, including a major facility in set to begin operations by 2027 in partnership with (AWS), aimed at powering nationwide AI infrastructure with integrated connectivity. The company's R&D investments emphasize (SDN) and (NFV) to enhance network agility and security. Through collaborations with , SK Broadband has implemented SDN for radio access networks since 2016, enabling cloud-based LTE deployments that improve and . These efforts extend to cybersecurity, where NFV supports virtualized firewalls and intrusion detection systems, bolstering defenses against evolving threats in virtualized environments. Internationally, SK Broadband maintains partnerships with global technology leaders to optimize content delivery and ensure standards compliance. Its collaboration with Aryaka Networks provides software-defined wide area networking () services across , enhancing secure cloud access and content distribution for enterprise clients. Furthermore, ties with and AWS align with international standards from bodies like the ITU and , facilitating in high-speed and AI ecosystems.

Financial performance

Stock market listings

SK Broadband Co., Ltd. is publicly traded on the (KRX) under the 033630, a listing that originated during its time as Hanaro Telecom. The company conducted its in March 2000, issuing 24 million common shares to raise capital for expansion in the telecommunications sector. Following SK Telecom's acquisition of a controlling stake in 2007, the share structure underwent adjustments to reflect the new ownership, including a at KRW 11,900 per share for 91.4 million shares, but the KRX listing persisted without interruption. The share structure primarily consists of with voting rights. As of May 2025, the number of outstanding shares is approximately 464 million. holds the dominant position as the major shareholder with 99.14% ownership following its acquisition of an additional 24.8% stake from Taekwang Group, Mirae Asset Group, and others at KRW 11,511 per share, totaling KRW 1.15 trillion. The remaining shares are held by minority investors, including institutional holders like the , which previously owned around 5.73%. Trading metrics for 033630 reflect its status as a controlled , with historically low volatility due to concentrated —beta coefficients typically below 1.0 relative to the index—and limited daily volume, often under 1 million . The emphasizes stable payouts aligned with earnings, with no dividends declared in recent quarters amid the full transition, though historical yields have ranged from 0% to 2% based on profitability. Key stock events include the 2015 share swap where increased its stake to over 50%, enhancing consolidation, and the 2025 transaction solidifying near-total control. Investor relations materials, including quarterly disclosures, annual reports, and regulatory filings, are accessible via the KRX electronic disclosure system (DART) and direct company channels, such as the investor relations email at [email protected]. These resources provide transparency on governance and compliance for the limited public float.

Revenue, profitability, and key metrics

SK Broadband's revenue has shown steady growth over the years, starting from KRW 1,314,981 million in the second quarter of 2015 as a baseline figure amid expanding broadband services. By fiscal year 2024, annual revenue reached KRW 4.4111 trillion, reflecting a 3.1% year-over-year increase primarily driven by rising broadband and IPTV subscriptions in South Korea's competitive fixed-line market. This expansion aligns with broader subscriber growth in high-speed internet plans, contributing to the company's position as a key player in the sector. Profitability has experienced fluctuations since SK Telecom's acquisition of SK Broadband in 2007, with net income impacted by integration costs and market competition in the early post-acquisition period. Operating income improved to KRW 351.7 billion in 2024, a 13.7% rise from the prior year, supported by cost efficiencies despite ongoing investments in network infrastructure. EBITDA margins for the broader group, which includes SK Broadband, remained stable at around 28%-29% in 2024, though 5G-related capital expenditures across the group pressured short-term profitability by increasing operational costs for backhaul and connectivity upgrades. Key performance metrics highlight SK Broadband's operational efficiency, with (ARPU) for and IPTV services bolstered by premium gigabit offerings, contributing to qualitative subscriber growth. Capital expenditures totaled approximately KRW 2.39 trillion in 2024 for the group, with a significant portion allocated to SK Broadband's network upgrades for enhanced capacity and reliability. In recent performance through November 2025, SK Broadband maintained a stable credit rating of 'A-' from Fitch Ratings, underscoring resilient financial health despite cybersecurity-related challenges affecting the parent company. The 2025 restructuring efforts at SK Telecom, including a 30% reduction in executive workforce, are expected to lower operational costs and improve margins by streamlining management overhead across the group. In the third quarter of 2025, SK Broadband faced subscriber declines in broadband and IPTV segments due to a July 2025 cybersecurity incident at SK Telecom, contributing to group-wide revenue of KRW 3.9781 trillion (down 12.2% YoY) and operating income of KRW 48.4 billion (down 90.9% YoY). Comparatively, SK Broadband commands a leading position in fixed broadband and IPTV revenue share, while its parent SK Telecom holds about 33.6% of the overall South Korean telecom market revenue, ahead of KT Corporation (approximately 31%) and LG Uplus (around 26%).

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