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    Joonsop Kim • KB Securities

    Joonsop Kim's questions to SK Telecom Co Ltd (SKM) leadership

    Joonsop Kim's questions to SK Telecom Co Ltd (SKM) leadership • Q1 2025

    Question

    Joonsop Kim of KB Securities inquired about the impact of the recent cybersecurity incident, specifically asking about the rate of customers switching to other carriers and the expected duration and revenue impact of the company's suspension of new subscriber sign-ups.

    Answer

    Yoon Jae-Woong, Head of Marketing Strategy, acknowledged an initial increase in customer churn and confirmed the company would bear necessary expenses to regain trust. He explained the new subscriber suspension was a temporary measure to secure USIM chip supply for existing customers and that a resumption date would be determined in coordination with government ministries. The ultimate revenue impact remains uncertain and is dependent on the length of the suspension.

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    Joonsop Kim's questions to SK Telecom Co Ltd (SKM) leadership • Q4 2024

    Question

    Joonsop Kim from KB Securities inquired about the potential impact of cheaper AI models, like DeepSeek, on SK Telecom's AI infrastructure (AIDC) business. He also asked for details on specific business models within the AIX division and which of those are expected to drive the projected 30% revenue growth in 2025.

    Answer

    Hyunwoo Lee, Head of AIDC Development, positioned cheaper AI models as a positive catalyst that will increase overall demand for AI infrastructure. An executive from AIX Business Development explained that AIX revenue growth will be driven by its AI B2B businesses (like Vision AI and AICC) and the expansion of new 'AT' use cases, which will be commercialized after being proven within SK Group.

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    Joonsop Kim's questions to SK Telecom Co Ltd (SKM) leadership • Q2 2024

    Question

    Joonsop Kim of KB Securities inquired about the timeline for the materialization of earnings from SK Telecom's AI businesses. He also asked for details on the strategic expectations and progress following the company's investment in the AI search engine, Perplexity.

    Answer

    CFO Yang-Seob Kim stated that AI monetization is underway across three areas: AI data centers (most immediate), AI B2B (targeting over KRW 60 billion in revenue this year), and AI B2C via the A dot service. The Head of AI Growth Strategy added that the Perplexity investment will enhance the A dot service with a Korean-optimized AI search engine starting in late August, and SKT customers will receive exclusive free access to Perplexity Pro for one year.

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    Joonsop Kim's questions to KT Corp (KT) leadership

    Joonsop Kim's questions to KT Corp (KT) leadership • Q4 2024

    Question

    Joonsop Kim of KB Securities asked for details on KT's AI Transformation (AX) business, including its unique strategy, roadmap, and revenue projections. He also sought specifics on the Microsoft partnership, particularly regarding the Korea-specialized AI model and secure public cloud.

    Answer

    CFO Min Jang explained that KT's AX strategy is a three-pronged approach focusing on B2B IT, B2C communications, and Media. He noted the combined AI and IT business generated KRW 1 trillion in 2024 and is targeted for double-digit growth in 2025. Regarding the Microsoft partnership, he announced plans to launch a Korea-specialized secure public cloud in Q1 and a GPT-4 based AI model trained on Korean data in Q2, initially targeting around 30 strategic customers.

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    Joonsop Kim's questions to KT Corp (KT) leadership • Q2 2024

    Question

    Joonsop Kim from KB Securities asked for the specific financial impact of the collective wage agreement on Q2 labor costs and requested management's outlook for the second half of the year, considering factors like 5G subscriber growth and business streamlining.

    Answer

    Min Jang, KT's CFO, quantified the wage agreement's first-half impact at KRW 64.4 billion, noting it was booked in Q2 this year versus Q3 last year, but the total annual impact is lower than the previous year. For the H2 outlook, Jang expressed confidence, stating that labor costs will not be a major burden, business streamlining will aid profitability, and other costs are well-controlled. He expects robust performance from group affiliates to contribute positively to consolidated results.

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    Joonsop Kim's questions to KT Corp (KT) leadership • Q1 2024

    Question

    Joonsop Kim of KB Securities questioned the notable growth in B2B services, asking about any specific trends in project types or sizes that are driving this performance.

    Answer

    CFO Jang Min explained that the B2B growth was driven by solid performance in Internet broadband and data. He emphasized a strategic shift towards prioritizing profitability and projects with clear returns, rather than just revenue volume. He also mentioned that incorporating AI into IT services is a key part of the B2B strategy to drive tangible results.

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