SK Telecom Expands 'X Caliber' Veterinary Diagnosis Assistant to Three Major Southeast Asian Markets

Rhea-AI Summary

SK Telecom (NYSE: SKM) has signed agreements to supply its AI-based veterinary diagnosis assistant, 'X Caliber', to Malaysia, Thailand, and Vietnam. The company partnered with My Vet Care in Malaysia, Happy Pet Hospital in Thailand, and Vet Sky Holdings in Vietnam to introduce the service. X Caliber aims to enhance pet disease diagnosis and promote efficient pet diagnostics in these rapidly growing markets. The Southeast Asian pet market was estimated at USD 3.3 billion in 2023, with a compound annual growth rate of 13% over the past five years. SK Telecom's expansion into these markets demonstrates its commitment to innovating pet care and promoting South Korea's AI technology globally.

Positive

• Expansion into three major Southeast Asian markets
• Partnerships with leading pet care companies in each country
• Tapping into a rapidly growing pet market worth USD 3.3 billion
• Potential for increased revenue and market share in the pet care industry

Negative

• None.

- SK Telecom signs agreements in Malaysia, Thailand and Vietnam to supply 'X Caliber', its AI-based veterinary diagnosis service, as demand for pet care grows

SEOUL, South Korea , July 29, 2024  /PRNewswire/ -- SK Telecom (NYSE: SKM, "SKT") announced today that it has signed agreements to supply its artificial intelligence (AI)-based veterinary diagnosis assistant, 'X Caliber', to three major Southeast Asian markets, including Malaysia, Thailand and Vietnam.

The signing ceremony was held at Federation of Asian Small Animal Veterinarian Association (FASAVA) Congress 2024, one of the biggest veterinary events in Asia Pacific region. This year, the event was hosted in Kuala Lumpur, Malaysia. The signing ceremony was attended by representatives including Jang Dong-il, X Caliber Global Team Lead of SKT, and Dr. Liu Chang Haur, Managing Director of My Vet Care.

As a part of the agreement, SKT will supply X Caliber to My Vet Care, Malaysia's leading distributor of pet supplements and healthcare solutions. The two companies plan to introduce the service to veterinary clinics across Malaysia and begin commercial service in the third quarter of this year.

Dr. Goh Lai Har, President of FASAVA Congress 2024 stated, "In the rapidly growing Malaysian pet market, X Caliber will serve as another catalyst for growth." She also emphasized "Malaysian veterinarians will strive to promote the spread of X Caliber for efficient pet diagnostics."

X Caliber is now available at Happy Pet Hospital in Bangkok, Thailand, starting this month. Happy Pet is a full-service veterinary hospital offering a comprehensive array of pet care services, including a pet park, pet taxi and a pet shop.

In Vietnam, SKT has partnered with Vet Sky Holdings, a prominent provider of pet diagnostic equipment, solutions and veterinary hospital chains. Starting this month, the SKY Animal Medical Center in Ho Chi Minh City will introduce X Caliber to enhance the diagnosis of pet diseases.

The pet market in Southeast Asia is experiencing rapid growth. Market research firm GlobalPETS estimated the market size at USD 3.3 billion in 2023, with a compound annual growth rate of 13 percent over the past five years.

"SKT's AI capabilities in the Southeast Asian pet market are set to enhance and innovate the pet care environment through these successful agreements," said Ha Min-yong, Chief Development Officer of SKT. "We are committed to leading the global promotion of South Korea's AI technology through transformative initiatives across diverse industries."

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About SK Telecom

SK Telecom has been leading the growth of the mobile industry since 1984. Now, it is taking customer experience to new heights by extending beyond connectivity. By placing AI at the core of its business, SK Telecom is rapidly transforming into an AI company with a strong global presence. It is focusing on driving innovations in areas of AI Infrastructure, AI Transformation (AIX) and AI Service to deliver greater value for industry, society, and life.

For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

View original content:https://www.prnewswire.com/news-releases/sk-telecom-expands-x-caliber-veterinary-diagnosis-assistant-to-three-major-southeast-asian-markets-302209158.html

SOURCE SK Telecom

FAQ

What is SK Telecom's 'X Caliber' and where is it expanding?

X Caliber is SK Telecom's AI-based veterinary diagnosis assistant. It is expanding to Malaysia, Thailand, and Vietnam, three major Southeast Asian markets.

When will X Caliber be commercially available in Malaysia (SKM)?

SK Telecom (SKM) plans to begin commercial service of X Caliber in Malaysia in the third quarter of 2024.

What is the estimated size of the Southeast Asian pet market in 2023?

According to market research firm GlobalPETS, the Southeast Asian pet market was estimated at USD 3.3 billion in 2023.

What is the compound annual growth rate of the Southeast Asian pet market over the past five years?

The Southeast Asian pet market has experienced a compound annual growth rate of 13% over the past five years.