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Press Release
The CEO of SK Telecom Describes His Affirmative Expectations for Increased Global and New Businesses that Are Driven by New Growth Engine Development
2005.03.22 PrintReveals key management direction for 2005, at a press conference
SK Telecom secures 800,000 subscribers in new business areas such as Satellite DMB and WCDMA, and an additional 500,000 mobile phone subscribers abroad.
Seeks to open up new business opportunities for new WIPI related businesses in overseas markets in cooperation with related domestic companies by quickly implementing the international standardization of the WIPI platform
At a press conference held on March 22, SK Telecom announced that 2005 will be a year for significant gains in tangible results for its new growth engine, and global business areas.
Shin Bae Kim, president and CEO of SK Telecom, indicated that his first year of leading the company has been essential in laying the foundation for the company’s success over the next 10 years. SK Telecom has developed new growth engines by advancing into the U.S. mobile communications market, acquiring a license for CDMA handset production in China, obtaining Satellite DMB and WiBro service licenses, and launching the pilot in-vehicle Telematics services on Jeju Island, during this past year.
He also revealed that SK Telecom has been furthering transparent management by introducing a continuous audit system in January of 2005. This was a first for a Korean Company. In addition, the number of outside directors was made larger than the number of standing directors (7 outside directors and 4 in-house directors) at the annual shareholders’ meeting held on March 11. He stressed his strong will toward "Increasing transparent management" as well as "Board of Directors-centered management" even though SK Telecom’s corporate government has already reached the global standard.
With regards to business plans for 2005, the CEO revealed his expectations for visible progress in the new and global business areas. He stated, "SK Telecom plans to secure 800,000 subscribers in new business areas such as Satellite DMB and WCDMA, and accumulate 500,000 mobile phone subscribers in overseas countries such as the U.S. and Vietnam.
President Kim’s remarks about the WIPI platform became a bright spot of the press conference when he announced that he will actively work to make the WIPI platform the international standard by working through alliances with related standard organizations such as Open Mobile Alliance (OMA) and Java Community Process (JCP).
When the WIPI platform becomes the global standard, SK Telecom expects that it will not only increase exports of related domestic companies, but also open up new business opportunities for new startup WIPI related businesses.
President Kim expressed optimism regarding the future of the IT industry by expressing that "The IT industry has already emerged as a new growth driver. It will play a pivotal role in the ongoing recovery of the domestic economy which has been recently showing signs of rejuvenation." He continued by saying, "The IT 839 project that the Ministry of Information and Communications is carrying out will create various new growth engines that will assume the lead in global markets."
Shin Bae Kim, president and CEO of SK Telecom, indicated that his first year of leading the company has been essential in laying the foundation for the company’s success over the next 10 years. SK Telecom has developed new growth engines by advancing into the U.S. mobile communications market, acquiring a license for CDMA handset production in China, obtaining Satellite DMB and WiBro service licenses, and launching the pilot in-vehicle Telematics services on Jeju Island, during this past year.
He also revealed that SK Telecom has been furthering transparent management by introducing a continuous audit system in January of 2005. This was a first for a Korean Company. In addition, the number of outside directors was made larger than the number of standing directors (7 outside directors and 4 in-house directors) at the annual shareholders’ meeting held on March 11. He stressed his strong will toward "Increasing transparent management" as well as "Board of Directors-centered management" even though SK Telecom’s corporate government has already reached the global standard.
With regards to business plans for 2005, the CEO revealed his expectations for visible progress in the new and global business areas. He stated, "SK Telecom plans to secure 800,000 subscribers in new business areas such as Satellite DMB and WCDMA, and accumulate 500,000 mobile phone subscribers in overseas countries such as the U.S. and Vietnam.
President Kim’s remarks about the WIPI platform became a bright spot of the press conference when he announced that he will actively work to make the WIPI platform the international standard by working through alliances with related standard organizations such as Open Mobile Alliance (OMA) and Java Community Process (JCP).
When the WIPI platform becomes the global standard, SK Telecom expects that it will not only increase exports of related domestic companies, but also open up new business opportunities for new startup WIPI related businesses.
President Kim expressed optimism regarding the future of the IT industry by expressing that "The IT industry has already emerged as a new growth driver. It will play a pivotal role in the ongoing recovery of the domestic economy which has been recently showing signs of rejuvenation." He continued by saying, "The IT 839 project that the Ministry of Information and Communications is carrying out will create various new growth engines that will assume the lead in global markets."