Going beyond core services – SK Telecom

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Summary

As core connectivity revenue growth slows across the telecom sector, SK Telecom has built one of the most diversified non-connectivity businesses among Asia Pacific operators. The South Korean carrier expanded beyond its mobile network operator (MNO) roots into media, e-commerce, security, and mobility, restructuring itself around five distinct business segments.

In media, SK Telecom merged SK Broadband and t-broad into a combined Pay TV platform, alongside a growth strategy behind its OTT streaming service, wavve, which competes against Netflix in the South Korean market through original content investment and partnerships with terrestrial broadcasters. On the commerce side, subsidiaries 11st and SK stoa capitalised on the shift toward contactless shopping and T-commerce, with 11st evolving from an open marketplace into a broader commerce portal and SK stoa building live-commerce formats with entertainment-style product showcases.

SK Telecom's security segment spans its acquisitions of ADT Caps and SK Infosec, combining physical security such as gate and alarm systems with managed cybersecurity services like network monitoring and cloud protection, and the carrier is merging the two units into a single integrated security business. The mobility segment rounds out the strategy through T Map Mobility's all-in-one subscription approach to navigation, ride-hailing and shared transport, including partnership discussions with a major global ride-sharing company. Together, these moves illustrate a broader playbook for telecom operators looking beyond subscriptions.

What can other telecom operators learn from SK Telecom's push into media, commerce, security and mobility?

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