SK Telecom to sell ₩1.88T SK Horizon stake in 2027

Rhea-AI Filing Summary

SK TELECOM CO LTD (SKM) approved a plan to dispose of part of its stake in SK Horizon Co., Ltd., a subsidiary that is expected to be created via a spin-off of SK Broadband Co., Ltd. SK Horizon will operate data centers, content delivery network services, and subsea cable-based international leased line services, with share capital of ₩331,082,990,000 and 66,216,598 shares issued.

SK Telecom plans to dispose of 24,481,427 SK Horizon shares for an aggregate disposal value of ₩1,881,128,369,253, equal to 14.52% of its total shareholders’ equity of ₩12,955,292,392,172 as of December 31, 2025. After the disposal, SK Telecom expects to hold 41,735,171 shares, representing a 63.03% stake. The stated purpose is to secure investment funding for growth businesses, with the scheduled disposal date on March 4, 2027. The board approved the transaction on August 27, 2026, with all five independent directors present and no put options or other related agreements.

Key Figures

Aggregate Disposal Value: ₩1,881,128,369,253 Number of Shares to be Disposed: 24,481,427 shares Total Shareholders’ Equity: ₩12,955,292,392,172 +5 more

8 metrics

Aggregate Disposal Value ₩1,881,128,369,253 Value of 24,481,427 SK Horizon shares to be disposed

Number of Shares to be Disposed 24,481,427 shares SK Horizon shares SK Telecom plans to sell

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

Ratio of Aggregate Disposal Value to Equity 14.52% Proportion of disposal value to shareholders’ equity

Shares to be Held After Disposal 41,735,171 shares SK Horizon shares SK Telecom expects to retain

Shareholding Ratio After Disposal 63.03% SK Telecom’s expected ownership in SK Horizon after sale

SK Horizon Share Capital ₩331,082,990,000 Paid-in capital of SK Horizon Co., Ltd.

Total SK Horizon Shares Issued and Outstanding 66,216,598 shares Total issued and outstanding shares of SK Horizon

Key Terms

spin-off, aggregate disposal value, shareholding ratio, data center, +2 more

6 terms

spin-off financial

"a subsidiary expected to be established through a spin-off of SK Broadband"

A spin-off happens when a company creates a new, independent business by separating part of itself, like splitting off a division into its own company. This often happens so the new company can focus better on its own goals or attract different investors. It matters because it can lead to more growth opportunities and clearer focus for both companies.

aggregate disposal value financial

"Aggregate Disposal Value (Won) | | 1,881,128,369,253"

shareholding ratio financial

"Shareholding Ratio (%) | | 63.03"

data center technical

"Principal Business | | Data center (including content delivery network services)"

A data center is a secure facility that houses large numbers of computers, storage devices and networking gear that run, store and move digital information for businesses and online services. Investors treat data centers like modern warehouses: their occupancy, energy efficiency, connectivity and long-term service contracts drive steady revenue and capital needs, so changes in demand or costs can directly affect profitability and growth prospects.

content delivery network services technical

"Data center (including content delivery network services)"

subsea cable-based international leased line services technical

"and proprietary subsea cable-based international leased line services"

FAQ

What transaction did SKM (SK TELECOM CO LTD) approve regarding SK Horizon?

SK Telecom approved the disposal of 24,481,427 shares of SK Horizon Co., Ltd., a subsidiary to be formed via a spin-off of SK Broadband, to secure investment funding for growth businesses. The scheduled disposal date is March 4, 2027.

What is the value of SK Telecom’s planned SK Horizon share disposal (SKM)?

The planned disposal of SK Horizon shares has an aggregate disposal value of ₩1,881,128,369,253. This amount represents 14.52% of SK Telecom’s total shareholders’ equity of ₩12,955,292,392,172 as of December 31, 2025.

What will SKM’s ownership in SK Horizon be after the disposal?

After the disposal, SK Telecom expects to hold 41,735,171 shares of SK Horizon, corresponding to a 63.03% shareholding ratio. SK Horizon is described as a subsidiary of SK Telecom following the spin-off of SK Broadband.

What is SK Horizon’s business according to SKM’s 6-K?

SK Horizon’s principal business will be data centers (including content delivery network services) and proprietary subsea cable-based international leased line services. It will be incorporated in the Republic of Korea, with Seong Soo Kim as representative.

When did SKM’s board approve the SK Horizon share disposal and how was it attended?

The board of SK Telecom approved the disposal on August 27, 2026. The attendance of independent directors was reported as Present: 5; Absent: 0, and the company indicated that it is a large-scale corporation for this decision.

Does SKM’s SK Horizon disposal involve put options or similar agreements?

No. SK Telecom stated that there are no put options or other agreements related to the planned disposal of SK Horizon shares, beyond the terms described for the share sale itself.

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Available on EDGAR 08/27/2026 - 06:10 AM Accepted by SEC EDGAR 08/27/2026 - 06:10 AM Learn about SEC filing dates

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 AUGUST 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 Disposal of Shares

On August 27, 2026, the board of directors of SK Telecom Co., Ltd. (the “Company”) approved the disposal of shares of SK Horizon Co., Ltd. (“SK Horizon”), a subsidiary expected to be established through a spin-off of SK Broadband Co., Ltd. (“SK Broadband”), in order to secure investment funding for growth businesses. Details of the proposed transaction are as follows:

Disposal of Shares of SK Horizon

1. Details of SK Horizon		Company Name		SK Horizon Co., Ltd. (tentative)
		Country of Incorporation		Republic of Korea		Representative		Seong Soo Kim
		Share Capital (Won)		331,082,990,000		Relationship to the Company		Subsidiary
		Total Number of Shares Issued and Outstanding		66,216,598		Principal Business		Data center (including content delivery network services) and proprietary subsea cable-based international leased line services
2. Details of Disposal		Number of the Shares to be Disposed		24,481,427
		Aggregate Disposal Value (Won)		1,881,128,369,253
		The Company’s Total Shareholders’ Equity (Won)		12,955,292,392,172
		Ratio of Aggregate Disposal Value to the Company’s Total Shareholders’ Equity as of December 31, 2025 (%)		14.52
		Large-scale Corporation		Applicable
3. Number of Shares to be Held by the Company and Shareholding Ratio after Disposal		Number of Shares to be Held		41,735,171
		Shareholding Ratio (%)		63.03
4. Purpose of Disposal				To secure investment funding for growth businesses
5. Scheduled Disposal Date				March 4, 2027
6. Date of Resolution by the Board of Directors (Determination Date)				August 27, 2026
-   Attendance of Independent Directors				Present: 5; Absent: 0
7. Put Options or Other Agreements				None

8. Other Important Matters Relating to Investment Decision

- This decision on disposal of shares relates to the off-market sale of a portion of the shares of SK Horizon, which the Company expects to hold following the establishment of such company as a result of a related spin-off from SK Broadband, to QUANTUM ASIA HOLDINGS II PTE. LTD. (“KKR”) and Korea Digital Infra Limited. (“IMM Consortium”) (the “Share Sale”).

- Separately from the Share Sale, SK Horizon plans to issue new shares (15,617,069 common shares) to KKR and IMM Consortium for approximately Won 1.20 trillion in sequence (the “Primary Share Subscription”). The foregoing expected number of shares to be issued and the expected proceeds of the issuance, as well as other terms of the Primary Share Subscription remain subject to change. Separate disclosures will be made in accordance with the applicable laws and regulations with respect to SK Horizon’s issuance of new shares.

- The aggregate transaction value of the Share Sale and the Primary Share Subscription is approximately Won 3.08 trillion, and upon completion of the contemplated Primary Share Subscription, the Company, KKR and IMM Consortium are expected to hold 51%, 29% and 20%, respectively, of the shares of SK Horizon. The foregoing transaction value, shareholding ratios and other terms of these transactions remain subject to change.

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- The “Share Capital (Won)” set forth in Item 1 above is the share capital of SK Horizon, as set forth in the spin-off plan of SK Broadband dated August 27, 2026 (based on figures as of March 31, 2026).

- The “Company’s Total Shareholders’ Equity (Won)” set forth in Item 2 above is based on the Company’s consolidated financial statements as of December 31, 2025.

- The “Shareholding Ratio (%)” in Item 3 above is calculated based on the number of shares held by the Company upon the establishment of the issuer, reflecting the changes resulting from the share purchase and sale contemplated herein.

- The “Scheduled Disposal Date” set forth in Item 5 above represents our current expectations for the date that would fall on the 15th business day after the date on which the conditions precedent under the share purchase agreement, including the establishment of SK Horizon and regulatory approvals, are satisfied or waived, and such date remains subject to change depending on future developments.

- The number of shares to be disposed of, the aggregate disposal value, the shareholding ratio and the scheduled disposal date relating to the Share Sale set forth above and matters relating to the Primary Share Subscription remain subject to change depending on the execution and performance of the relevant agreements, the satisfaction of conditions precedent and other developments relating to the transactions.

- SK Horizon is expected to be established in February 2027. Accordingly, this report does not contain the summary financial information of SK Horizon.

Related Disclosure: See the Company’s current reports on Form 6-K titled “Clarification Regarding Rumors or Media Reports” and “Update to Clarification Regarding Rumors or Media Reports” furnished on July 10, 2026 and August 7, 2026, respectively.

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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: August 27, 2026

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