SK Telecom raises value for our shareholders by pursuing growth and profits based on trust. Overseas expansion, ubiquitous and convergent projects, mobile R&D, management innovation ? these are just a few of the engines that will drive future growth of SK Telecom.
The year 2005 saw SK Telecom sharpen its competitive edge by raising its managerial efficiency, maintaining its market leadership, and developing its employees' competency. At the same time, by building up our strategic content group, we established a solid foundation for our future growth in the emerging convergent environment. We will continue our efforts to maximize our corporate value by pursuing our growth in today's new convergent and ubiquitous markets and by solidifying our position in the wireless telecommunications industry. Always striving to be at the leading edge, SK Telecom will focus on strengthening its global operations, convergent services, and core cellular services. To support these businesses, we will further reinforce our R&D capabilities and management infrastructure so as to create synergy and lay a solid foundation for our sustainable growth.
We are generating new momentum for growth by strengthening our global competitiveness in the mobile business arena. Currently, we are concentrating on the Vietnamese wireless telecommunications market by expanding our CDMA network coverage across the country. In the US market, our efforts are centered on introducing advanced wireless data services. HELIO is enjoying success in the U.S. through distinctive, personalized marketing programs. In addition, SK Telecom signed a Memorandum of Understanding (MOU) on TD-SCDMA (3G telecommunications technology) cooperation with the Chinese government in August 2006. In doing so, we became the first overseas telecommunications service provider to have forged an agreement with the Chinese government on the development of TD-SCDMA technology. We will continue to explore new global business opportunities that leverage our core competencies.
The information and communications sector is embracing a new paradigm called ‘digital convergence.' The rapid development of technology is accelerating digital convergence between telecommunications and other industries. SK Telecom has taken center stage with respect to this trend, on account of its strong presence in the convergence of telecommunications with both broadcasting and financial services. We will continue to develop and provide new types of convergent services to enhance our leading position in this emerging sector.
SK Telecom continues to maintain its leadership in the domestic cellular service market by expanding its strong customer base through services customized to each subscriber's lifestyle and needs. We are also solidifying another platform for the growth of our cellular services by focusing on expanding the usage of wireless data services. To support this effort, we plan to launch a nationwide commercial HSDPA (3G+) service in 2007.
To stay ahead of the intense competition from major global enterprises, SK Telecom is making significant efforts to reinforce its R&D capabilities and revamp its overall management system. We are enhancing our technological leadership through mid- to long-term research and development activities focused on expanding our business areas. We are also developing our R&D systems to facilitate our cooperative efforts with global players in other industries. Moreover, we are building more responsive and flexible management systems to better respond to today's rapidly changing business environment.
We believe that corporate responsibility means making ceaseless efforts to deliver a continuous stream of positive results in shareholder and corporate value. We should do this while maintaining a balance among sound financial structure, business growth, and shareholder return. Towards this end, SK Telecom carries out a variety of activities such as exploration of global business opportunities and enhancement of our corporate value through maximization of our customer value.
In 2005, SK Telecom recorded over KRW 10 trillion in revenue for the first time among local cellular service providers on the back of its data business, which represented 24% of its total revenue for the year. We are working to achieve even better results in 2006. We are strengthening our new businesses by leveraging our competencies in our core businesses and by offering differentiated services based on customer-focused marketing in our new convergent environment.