Korean telecommunications giant SK Telecom has shown impressive growth in 2024, particularly in its AI sector. The company posted a consolidated revenue of KRW 17.94 trillion ($12.34 billion), with an operating income of KRW 1.82 trillion. This growth was driven by a 4.0% rise in AI business and a 1.9% increase in mobile and fixed communications. Notably, AI-related revenue surged 19% compared to the previous year.
The company ended 2024 with 31.8 million mobile customers, 16.9 million of whom are 5G users. Despite these substantial investments, SK Telecom’s capital expenditure decreased by 12.7% from the previous year. The company’s CFO, Kim Yang-seob, states, “Last year, we strengthened our competitiveness in the telecommunications sector and laid the foundation for our transformation into an AI company. In 2025, we will continue to pioneer the AI era through determination and innovation, further solidifying our corporate value.”
SK Telecom’s AI strategy comprises three core components: AI data centers (AIDC), GPU-as-a-Service (GPUaaS), and Edge AI. The telco has strategically invested in Lambda and Penguin Solutions to bolster its AI infrastructure. The Gasan AI data center in partnership with Lambda launched recently, further solidifying SK Telecom’s AI-driven ambition.
Moreover, specialized units like AI Transformation (AIX), AIDC, Global Personal AI Agent (GPAA), and others have been instrumental in bolstering SK Telecom’s AI endeavor. The AIX unit experienced a remarkable 32% increase, driven by strong demand for AI cloud services.
Additionally, SK Telecom is advancing in the Personal AI Agent space with its dual-market strategy. This includes the domestic ‘A.’ offering and ’Aster’ for global markets. Aster, introduced at CES in Seoul, is designed as an ‘agentic AI’. It integrates advanced capabilities to assist users with planning, execution, and life management.
In January 2025, SK Telecom announced the release of Aster’s beta version in North America. The agent aims to surpass simple search functions, understanding intentions to execute tasks on the user’s behalf. It leverages generative AI technology in collaboration with next-generation platforms like Perplexity.
