SK Telecom (NYSE: SKM) to fund ₩750,000,000,000 AI data center subsidiary SK Hyper

Rhea-AI Filing Summary

SK Telecom Co., Ltd. approved the establishment of a new subsidiary, SK Hyper Co., Ltd., to enhance its artificial intelligence data center business, by contributing share capital of ₩750,000,000,000 for 1,875,000 shares. The transaction represents 5.79% of shareholders’ equity and 2.49% of total assets as of December 31, 2025.

After completion, SK Telecom will hold 100% of SK Hyper’s shares. The acquisition will be implemented through capital contribution in cash installments, with a scheduled acquisition date of December 31, 2030. The board approved the decision on July 23, 2026, with all five independent directors present and no put options or similar agreements attached.

Key Figures

SK Hyper Share Capital: ₩750,000,000,000 Shares Issued by SK Hyper: 1,875,000 shares Aggregate Acquisition Value: ₩750,000,000,000 +5 more

8 metrics

SK Hyper Share Capital ₩750,000,000,000 Share capital of SK Hyper Co., Ltd. at establishment

Shares Issued by SK Hyper 1,875,000 shares Total number of SK Hyper shares issued and outstanding

Aggregate Acquisition Value ₩750,000,000,000 Total value of SK Hyper shares to be acquired by SK Telecom

Total Shareholders’ Equity ₩12,955,292,392,172 SK Telecom shareholders’ equity as of December 31, 2025

Acquisition Value / Equity 5.79% Ratio of SK Hyper acquisition value to SK Telecom shareholders’ equity

Total Assets ₩30,107,782,844,989 SK Telecom total assets as of December 31, 2025

Acquisition Value / Assets 2.49% Ratio of SK Hyper acquisition value to SK Telecom total assets

Scheduled Acquisition Date December 31, 2030 Planned date for completion of capital contribution to SK Hyper

Key Terms

foreign private issuer, aggregate acquisition value, shareholding ratio, large-scale Corporation, +2 more

6 terms

foreign private issuer regulatory

"Form 6-K report of foreign private issuer pursuant to Rule 13a-16"

A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

aggregate acquisition value financial

"Aggregate Acquisition Value (Won) | | 750,000,000,000"

shareholding ratio financial

"Shareholding Ratio (%) | | 100"

large-scale Corporation regulatory

"Large-scale Corporation | | Applicable"

capital contribution in cash installments financial

"Method of Acquisition | | Establishment of new subsidiary and capital contribution in cash installments"

put options financial

"Put Options or Other Agreements | | None"

A put option is a financial contract that gives the holder the right to sell a specific asset at a predetermined price within a set period. Investors use put options to protect against potential declines in the value of an asset or to profit if they believe prices will fall, similar to reserving the option to sell an item at today’s price even if its market value drops later.

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Available on EDGAR 07/23/2026 - 07:18 AM Accepted by SEC EDGAR 07/23/2026 - 07:18 AM Learn about SEC filing dates

FAQ

What transaction did SK Telecom (SKM) approve regarding SK Hyper Co., Ltd.?

SK Telecom (SKM) approved establishing a new subsidiary, SK Hyper Co., Ltd., via a ₩750,000,000,000 capital contribution for 1,875,000 shares. SK Hyper will operate in the AI data center business and be a wholly owned subsidiary of SK Telecom after the contribution.

How significant is the SK Hyper investment to SK Telecom (SKM)’s balance sheet?

The planned ₩750,000,000,000 capital contribution to SK Hyper equals 5.79% of SK Telecom (SKM)’s total shareholders’ equity of ₩12,955,292,392,172. It also represents 2.49% of total assets of ₩30,107,782,844,989 as of December 31, 2025.

What ownership stake will SK Telecom (SKM) hold in SK Hyper after the transaction?

After the transaction, SK Telecom (SKM) will hold 1,875,000 SK Hyper shares, representing a 100% shareholding ratio. SK Hyper will be treated as an affiliated company and wholly owned subsidiary focused on AI data center operations and related activities.

When is the SK Hyper capital contribution by SK Telecom (SKM) scheduled to be completed?

The capital contribution to SK Hyper by SK Telecom (SKM) is scheduled for December 31, 2030. The method is an establishment of a new subsidiary and capital contribution in cash installments, following the board’s approval on July 23, 2026.

What is the purpose of SK Telecom (SKM)'s investment in SK Hyper Co., Ltd.?

The stated purpose of SK Telecom (SKM)’s investment in SK Hyper is to strengthen the competitiveness of its AI data center business. SK Hyper will focus on AI data center activities and related services as part of SK Telecom’s broader technology strategy.

Did SK Telecom (SKM) agree to any put options or similar arrangements in the SK Hyper deal?

No. The disclosure states there are no put options or other agreements related to SK Telecom (SKM)’s acquisition of SK Hyper shares. The transaction is structured purely as a capital contribution in cash installments to a newly established subsidiary.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF JULY 2026

Commission File Number: 333-04906

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

65, Euljiro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒     Form 40-F  ☐

Decision on Acquisition of Shares

On July 23, 2026, the board of directors of SK Telecom Co., Ltd. (the “Company”) approved the establishment of, and capital contribution to, a new subsidiary, SK Hyper Co., Ltd. (“SK Hyper”), in order to strengthen the competitiveness of the Company’s artificial intelligence (“AI”) data center business. Details of the proposed transaction are as follows:

Acquisition of Shares of SK Hyper

1. Details of SK Hyper		Company Name		SK Hyper Co., Ltd.
		Country of Incorporation		Republic of Korea		Representative		Sukgeun Chung
		Share Capital (Won)		750,000,000,000		Relationship to the Company		Affiliated Company
		Total Number of Shares Issued and Outstanding		1,875,000		Principal Business		AI data center business, etc.
2. Details of Acquisition		Number of the Shares to be Acquired		1,875,000
		Aggregate Acquisition Value (Won)		750,000,000,000
		The Company’s Total Shareholders’ Equity (Won)		12,955,292,392,172
		Ratio of Aggregate Acquisition Value to the Company’s Total Shareholders’ Equity as of December 31, 2025 (%)		5.79
		Large-scale Corporation		Applicable
3. Number of Shares to be Held by the Company and Shareholding Ratio after Acquisition		Number of Shares to be Held		1,875,000
		Shareholding Ratio (%)		100
4. Method of Acquisition				Establishment of new subsidiary and capital contribution in cash installments
5. Purpose of Acquisition				To strengthen the competitiveness of the Company’s AI data center business
6. Scheduled Acquisition Date				December 31, 2030
7. The Company’s Total Assets (Won) as of December 31, 2025				30,107,782,844,989
• Ratio of Aggregate Acquisition Value to the Company’s Total Assets (%)				2.49
8. Date of Resolution by the Board of Directors (Determination Date)				July 23, 2026
• Attendance of Independent Directors				Present: 5; Absent: 0
9. Put Options or Other Agreements				None

10. Other Important Matters Relating to Investment Decision • This report relates to the Company’s decision to establish a new subsidiary and make capital contributions thereto.   • The “Company’s Total Shareholders’ Equity (Won)” set forth in Item 2 above and the “Company’s Total Assets (Won)” set forth in Item 7 above are based on the Company’s consolidated financial statements as of December 31, 2025.   • The “Number of the Shares to be Acquired” and the “Aggregate Acquisition Value (Won)” set forth in Item 2 above represent the total number of shares and total capital contribution amount approved by the board of directors of the Company. Of the Aggregate Acquisition Value, Won 330 billion is expected to be contributed in July 2026, and the remaining Won 420 billion is expected to be contributed subsequently, depending on the progress of the business.   • The “Scheduled Acquisition Date” set forth in Item 6 above refers to the last possible date for remittance of capital contribution pursuant to the capital contribution decision.   • SK Hyper is expected to be established in July 2026. Accordingly, this report does not contain the summary financial information of SK Hyper.   • The number of shares to be acquired, the aggregate acquisition value, the shareholding ratio, the scheduled acquisition date and other terms and conditions set forth above with respect to the expected acquisition may change subject to future developments related to the transaction.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SK TELECOM CO., LTD.
(Registrant)
By:		/s/ Taehee Kim
(Signature)
Name: Taehee Kim
Title: Vice President

Date: July 23, 2026