SK Telecom's Q2 2025: Navigating Contradictions in Dividends, Cybersecurity, and AI Growth

Dividend payout strategy, cybersecurity incident impact on revenue, AI business growth and revenue expectations, and cybersecurity incident and financial impact are the key contradictions discussed in SK Telecom's latest 2025Q2 earnings call.



Cybersecurity Incident Impact:
- SK Telecom's consolidated revenue posted KRW 4,338.8 billion, a 1.9% year-on-year decline, primarily due to net subscriber losses and suspension of new subscriber sign-ups following a cybersecurity incident.
- The incident led to an operating income decrease of 37.1% year-on-year, with KRW 250 billion in one-off costs, including losses from authorized dealers and USIM replacements.

AI Business Growth:
- SK Telecom's AI business revenue grew 13.9% year-on-year, with AIDC revenue reaching KRW 108.7 billion (up 13.3%) and AIX revenue at KRW 46.8 billion (up 15.3%).
- Growth was driven by increased data center utilization rates and higher B2B solution sales.

Customer Appreciation and Loyalty Measures:
- SK Telecom implemented a Customer Appreciation Package, including a 50% tariff discount for August, additional data benefits, and membership discounts, to address subscriber loss due to the cybersecurity incident.
- These measures reflect the company's commitment to rebuilding customer trust and maintaining its customer base.

Dividend and Shareholder Returns:
- The second quarter dividend per share was set at KRW 831, maintaining the prior quarter's level, despite the financial impact of the cybersecurity incident.
- SK Telecom is considering the financial impact on annual earnings when evaluating full-year dividend guidance, emphasizing the importance of shareholder value and trust.