Its mobile network business saw revenue increase almost 3% year-on-year to approximately 3 trillion won. At the same time, operating income rose 22% year-on-year to 320 billion won. SK Telecom said it added 950,000 new 5G subscribers during the quarter, bringing its total to 8.65 million. The telco said it would continue to capitalize on its 5G network to offer upgraded cloud and data center services for business customers and its latest subscription-based commerce service for consumers. SK Telecom also saw growth in its contents, security, and contents businesses. Its IPTV business saw operating income jump around 21% year-on-year to 78.6 billion won, which the company credited to increased subscriptions. Its security business, which offers both cyber and physical security services to companies, grew in operating income nearly 12% year-on-year to 37.8 billion won. SK Telecom is set to split off into two entities later this month. The surviving company SK Telecom will operate as a telco while the spin-off SK Square will run SK Telecom’s remaining tech subsidiaries, including memory giant SK Hynix. Shares of both SK Telecom and SK Square have halted trading since late October and will recommence on November 29.

SK Telecom posts 11% higher Q2 profit on back of new 5G subscriptionsSK Hynix applies EUV to DRAM productionSK Telecom to split to form separate telco business and holding companySouth Korea to allocate more 5G spectrum in November