(Seoul, 26 February 2008) - SK Telecom (NYSE:SKM) announced today that the company has launched ’11th Street’, an integrated e-commerce market that combines e-commerce and advanced mobile technology of SK Telecom. Available on both wired and wireless Internet, the new service opens an entirely new online market place enabling users to purchase products, have fun, and share shopping tips with other shoppers.

11th Street aims to become a playground for online shoppers and sellers by providing various entertainment services to users in their 20s and 30s, the largest potential customer group. The services include wired and wireless services and ’Chapping (Chatting + Shopping)’, which allows users to share what they see on the screen and chat about the products. Additionally, 11th Street will build a strong partnership with sellers thus providing exciting customer experience to both sellers and buyers.

Se Hyun Oh, the President of C&I Biz at SK Telecom said, "Online shopping should be more than simply browsing products, comparing prices, and purchasing what you find. It should be an exciting experience that brings fun and excitement. This is the value of shopping we want to realize on 11th Street. We will deliver greater benefits to our customers and guide them to a new shopping place that has never been imagined. Sellers on 11th Street will also benefit from our advanced technologies and customer service expertise."

SK Telecom’s new e-shopping mall is one of its many efforts designed to develop converged business models on a global scale to drive future growth of SK Telecom. SK Telecom aims to strengthen leadership in wired and wireless Internet business based on diverse distribution channels and expertise as the No.1 carrier in Korea. The company also plans to launch the 11th Street service in China within this year.

Leveraging its solid customer base and platform expansion, SK Telecom will continue to open new business opportunities in mobile and Internet industries.