Profile: SK TELECOM CO.,LTD (SKM)

SK Telecom Co., Ltd. (SK Telecom), incorporated in March 1984, is a wireless telecommunications service provider. The Company had approximately 23 million wireless subscribers as of December 31, 2008. SK Telecom provides services, including cellular voice services, wireless data services, broadband Internet and fixed-line telephone services, and digital convergence and new businesses. The Company provides wireless voice transmission services to its subscribers through its cellular networks and also offers wireless global roaming services though service agreements with various foreign wireless telecommunications service providers. SK Telecom also provides wireless data transmission services, including wireless Internet access services, which allow subscribers to access a range of online digital contents and services, as well as to send and receive text and multimedia messages, using their mobile phones. Through the Company's consolidated subsidiary, SK Broadband, it provides broadband Internet access service and other Internet-related services, including video-on-demand and Internet protocol (IP) television (TV) services.

In March 2008, the Company completed the acquisition of an additional 38.7% stake SK Broadband. In March 2008, the Company acquired a 42.2% interest in TR Music. On August 22, 2008, the Company disposed its investment in Helio LLC, which was incorporated to provide cellular telephone communication service in the United States to Virgin Mobile USA.

Cellular Voice Services

SK Telecom's cellular voice services, which consist of basic wireless voice transmission services and related value-added services, as well as global roaming services, remain its core business area. The Company derives revenues from its cellular voice services through initial subscription fees, plan-specific monthly fees, usage fees and value-added service fees. It also offers cellular global roaming services, branded as its T-Roaming service, through service agreements with various foreign wireless telecommunications service providers. SK Telecom offers code division multiple access (CDMA) voice roaming services in 21 countries, including countries in Asia, North and South America, as well as Guam, Saipan and New Zealand; global system for mobile communications (GSM) voice roaming services in 167 countries, including countries in Europe, North America, Africa, the Middle East and Asia, and wideband code division multiple access (WCDMA) voice roaming services in 65 countries, including countries in Asia, Europe, the Middle East, Africa and Australia. In addition, the Company offers global data roaming services in 79 countries, including countries in Asia, Europe, North and South America, the Middle East and Africa. As of December 31, 2008, approximately 5.4 million subscribers utilized its global roaming services. The global roaming service it provides to foreigners traveling to Korea is WCDMA-based.

Wireless Data Services (including Wireless Internet Services)

The Company offers its subscribers wireless data communications services, as well as wireless access to a range of digital content and services, including Internet-based content and services. SK Telecom provides wireless data communication services, including its basic short text message service (SMS), which allows subscribers to send and receive short text messages to and from their mobile phones. In addition to text-only SMS, it also offers a multimedia message service (MMS). MMS allows subscribers to send and receive multimedia messages containing graphic, audio and video clips to and from their mobile phones. In addition to its wireless data communications services, the Company also offers its subscribers wireless access to the Internet, primarily through its NATE portal, which is its integrated wired and wireless Internet platform that utilizes wireless application protocol (WAP) technology, to provide a gateway between its cellular network and the Internet.

SK Telecom offers its subscribers a range of wireless entertainment-related contents and services, primarily through content-specific portal sites that it operates, including MelOn, Gaming Services, Cizle and Mobile Cyworld. MelOn is a music portal that provides wireless access to a range of digital music contents. The Company offers subscribers various mobile gaming options through its NATE portal. Cizle is a movie portal, which provides subscribers access to a range of movie-related contents. Mobile Cyworld is a wireless Web community portal site, which is a mobile version of the Cyworld community site operated by the Company's subsidiary SK Communications Co., Ltd. SK Telecom offers its subscribers a range of wireless news and search services, including access to domestic and international news content, dictionary resources and weather information.

Broadband Internet and Fixed-line Telephone Services

The Company, through SK Broadband, provides broadband Internet access service and other Internet-related services, including video-on-demand and IP TV services, as well as fixed-line telephone services. Its fixed-line telephone services consist of local, domestic long distance, international long distance and voice over Internet protocol (VoIP) services. As of December 31, 2008, SK Broadband had approximately 3.5 million broadband Internet access subscribers. As of December 31, 2008, SK Broadband had 2.1 million fixed-line telephone subscribers.

Digital Convergence and New Businesses

The Company's convergence services include Satellite DMB Business and Telematics Service. As of December 31, 2008, TU Media had approximately 1.8 million subscribers. T-Map Navigation is a navigation service that uses global positioning system (GPS) technology to transmit driving directions, traffic updates and emergency rescue assistance to wireless devices, including vehicle-mounted devices and portable handsets.

Other Products and Services

The Company, through its 90.8%-owned subsidiary, SK Telink Co., Ltd., provides international telecommunications services, including direct-dial, as well as pre- and post-paid card calling services, bundled services for corporate customers, voice services using Internet protocol, Web-to-phone services, and data services. SK Telink provides international call services under the brand name 00700 and also offers commercial long-distance telephony service.

SK Telink also offers VoIP service through the Internet. SK Telink also operates certain domestic telephone services, including a 080 service that allows companies to establish toll-free customer service telephone hotlines, for which all call charges would be paid by the Company, as well as a general corporate number service that automatically routes calls made to a Company's general telephone number to the caller's nearest local branch.

SK Telecom's subsidiary, SK Communications, offers a fixed-line portal service under its NATE brand name and at the Website www.NATE.com. Cyworld, also operated by SK Communications, is an online community portal service in Korea. Cyworld is a social networking site that encompasses a virtual forum, where users can meet to exchange information and ideas and share multimedia contents, including through the publication of personal homepages and blog sites. As of December 31, 2008, its Cyworld portal service had approximately 24 million subscribers.