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Stakeholder Engagement Policy

SK Telecom has announced ‘Stakeholder Happiness’ as its fundamental business credo, faithfully pursuing the value since the revision of SKMS(SK Management System) in 2004. With the revised SKMS, SK Telecom has made it clear to take a balanced approach in the long term by realizing values of all stakeholders. At the same time, employees who lead the business of the Company are also mandated to pursue their own happiness through SKMS. It stresses the importance of relations between diverse stakeholders in promoting stability and growth of the Company, defines the 6 stakeholder groups and concretizes a methodology to form a desirable relationship with stakeholders. Its stakeholder policy is developed and implemented in line with the business philosophy enshrined in SKMS designed to drive sustainable growth and spread the corporate values by building an amicable relationship with stakeholders through the corporate strategy to bring happiness to all stakeholders.

Objective

SK Telecom drives sustained growth and development through the amicable stakeholder relationship built with a balanced long-term approach and growing based on the strong stakeholder trust by defining key stakeholders, analyzing key interest and impact of each stakeholder group and leveraging the analysis results for its business, addressing a range of stakeholder issues in a responsible manner and improving transparency and efficiency of its business on a sustained basis.

Scope

The stakeholder engagement policy is applied to every business activity of SK Telecom including all of its offices and subsidiaries home and abroad. The policy scope encompasses SK Telecom’s definition of key stakeholders, major issue analysis, channels for stakeholder communication/engagement, stakeholder grievance redress and its impact, and integration of stakeholder issues into business activities

Responsibility

- Communication channel for each stakeholder group is managed and handled by relevant departments for which they are held accountable (Assign R&R )
- Issues and general processes related to the stakeholder engagement framework are reported every quarter to the Corporate Citizenship Committee under the BoD

General Guidance

  • 01

    SK Telecom conducts a periodic impact analysis on stakeholder interest, opportunity and risk by stakeholder group to identify and manage key stakeholder issues.

  • 02

    When a critical stakeholder issue arises, SK Telecom fully commits itself to maintaining the mutual trust by proactively/methodically engaging itself in the problem-solving process designed to develop/implement a structured and efficient response to stakeholder expectation and demand after investing sufficient amount of time in discussing what stakeholders really expect and demand.

    - When engaging stakeholders, the Company makes sure to render the most effective support by fashioning/implementing its strategy in consideration of business status/environment, monitors any progress, and communicates the progress to mitigate additional risks.

  • 03

    When a stakeholder issue arises, the Company proactively engages itself in the problem-solving process in compliance with the stakeholder issue-handling process by leveraging diverse on/offline communication channels and engagement activities by stakeholder group.

  • 04

    The Company invites stakeholders to the problem-solving process of which output can be leveraged to improve its internal system and business activities, preparing the Company for similar issues in the future. With this aim in mind, the Company takes care to internalize the experience by reporting the evaluation results along with stakeholder feedbacks both internally and externally.

  • 05

    The Company conducts continuous R&D activities on the most effective stakeholder engagement methodology conducive to integrate stakeholder engagement into its business activities.

  • 06

    If an issue was raised with no justifiable ground with a malicious intent or a disruptive stakeholder makes it impossible to find a reasonable solution despite strenuous efforts to find the best possible solution through agreement, the issue status is continuously monitored for its impact on business and risk, and the Company does its utmost to mitigate the risk. The monitoring results are reported and shared through the internal stakeholder engagement risk management process on a regular basis until the issue is solved or closed.

  • 07

    Others

    - All stakeholders can freely engage themselves without restrictions, regardless of issue, and all engagement channels are open to all stakeholders at all times.
    - Engagement channels are operated by each responsible department to manage risks, resulting in enhanced operational efficiency and reduced management fatigue.
    - Stakeholder engagement process is the same across all SK telecom business sites including its overseas branches and regional headquarters.

Overall Process &Major Stakeholder

01 Stakeholder Mapping 02 Stakeholder Identification 03 Stakeholder Prioritization 04 Stakeholder Engagement 05 Stakeholder Communication 06 Feedback & Report 07 Review
  1. Stakeholder Mapping

    Create Stakeholder Pool of all Stakeholders relevant to the Company and Map them accordingly

  2. Stakeholder Identification

    Every year, define most important stakeholders to the Company from the mapped lists, based on internal/external environment analysis and identify stakeholders from the viewpoint of long-term performance and sustainable management of the Company

  3. Stakeholder Prioritization

    Prioritize the identified stakeholders in the order of importance to business by their level of Business involvement, stickiness, influence, ripple, etc.

  4. Stakeholder Engagement

    Receive opinions of stakeholders through various engagement channels such as Customer Center, Company Website, SNS as well as meetings and conferences and advisory committee, etc.

  5. Stakeholder Communication

    Take two-way communications approach of receiving opinions from stakeholders and proposing solutions and countermeasures

  6. Feedback & Report

    Use transparent feedback loop on handling of issues arisen, report the outcome to the highest decision-making body of the Company, maintain end-result systematically

  7. Review

    Review these steps regularly, to further improve direction and apply in this Framework for more efficient Stakeholder Engagement

Identification ofStakehoder

SK Telecom defines its key stakeholder relations as Customer Relations, Em ployee Relations, Investor Relations, Government Relations, Business Partner Relations and Community/NGO Relations based on the stakeholder interest/impact analysis.


Customer, Business Partner, Government, Shareholder, Employee, Community & NGO

S/H Engagement &Communication

SK Telecom has ‘CSR Suggestion’ on its website as the integrated stakeholder communication channel. Stakeholder issues gathered through the channel are reported to the BoD Corporate Citizenship Committee to be integrated into the business process of the Company. The collected suggestions are also communicated to a relevant department which reports the final outcome to relevant stakeholders as feedback. Other engagement/communication channels by stakeholder group apart from the integrated channel are as follows:

S/H Engagement & Communication
Category Key Interest Engagement & Communication Channel
Government

Policy imperative for national ICT development, economic vitalization, mobile communications market competition/fair trade regulation

Gov’t meetings on policy suggestion/discussion, public-private projects

Customer

Quality/service satisfaction, service fee, partnership & customer benefits, VoC, customer data security & privacy, customer safety/ service responsibility

VoC(e.g. on/offline customer centers), CRM surveys, customer satisfaction surveys, blogs, SNS channels(e.g. Facebook), customer feedback committees, year-round meetings/ events, customer contact points in the distribution chain (e.g. branch office/ licensed office)

Business Partner

Win-win growth support programs, ecosystem for win-win growth

VoP channel, portal for business partners(Open2U), Win-Win Council, Patners’ Day, One-on-One meetings, the Open Innovation Center website, win-win growth satisfaction surveys, T Open Lab/Open Innovation Center, etc

Shareholder

Stock/corporate values, financial performance(i.e. profit, revenue, etc), growth strategy, shareholder return policy, regulatory environment, market competition

Investor meetings(conference, NDR etc), IR seminars, business briefings, IR information(homepage), corporate disclosure(FSS/ KRX/SEC/LSE, etc), general shareholders meetings

Community & NGO

Community development, welfare, social responsibility, environment issues

Meetings with NGOs, online outreach initiative/ donation platforms, community residents’ council (participation in community development), CSR programs, CSV advisory committee

Employee

Welfare and wage, job security, career development, work-life balance

Labor union(union homepage), labor-mgmt council, Letter to HR(corporate intranet), corporate newsletter/ broadcasting/ communication media, etc

Materiality Integration into Business

SK Telecom defines its key stakeholder relations as Customer Relations, Employee Relations, Investor Relations, Government Relations, Business Partner Relations and Community/NGO Relations based on the stakeholder interest/impact analysis.

01 Identification & Monitoring 02 S/H Engagement & Communication 03 Process improvement activities 04 Performance evaluation 05 Internal/external reporting
  • Identification & Monitoring

    Key stakeholder issue identification based on the impact analysis of risk & opportunity: Identify core stakeholder issues by analyzing impacts(i.e. risk & opportunity) of major stakeholder issues. On-going Monitoring on Core Stakeholder’s Issues through S/H Engagement channel is conducted.

  • S/H Engagement & Communication

    Critical Issues related to S/H Engagement should be managed in appropriate manners in order to mitigate related risks in compliance with specific guidelines of S/H Engagement policy.

  • Process improvement activities

    Design the process to manage key stakeholder issues, drive improvement initiatives, and manage goals and performances under the supervision of a responsible department.

  • Performance evaluation

    Tie the performance evaluation of employees responsible for stakeholder engagement at the headquarters and the branch offices to the annual performance of stakeholder issue management.

  • Internal/external reporting

    Report key achievements of process improvement to the BoD Corporate Citizenship Committee, present the success cases to the outside, and disclose relevant information.

Process for copingwith incident

Grasp the Issue, Seek Solutions at Local level, Engagement of Central Departments, Solutions from Local level, Empowerment of Solutions at Local level, Solutions from Central Departments, Stakeholder Communication, Feedback & Report
  • * Seek solutions at Local Level

    The responsible department, which is first point of contact for addressing issues, will check the level of urgency, importance, ripple effect and problem-solving method. When the issue cannot be solved locally, the responsible department will engage the central departments

  • ** Engagement of Central departments

    When it is deemed that additional R&C and authorization delegation can resolve certain issues, empowerment to local for solution will be extended If countermeasures for the issue require Companywide solution, HQ takes over to address the issue directly


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