UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF June 2026

COMMISSION FILE NUMBER: 333-04906

 

 

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

 

 

65, Eulji-ro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

 

QUARTERLY BUSINESS REPORT

(From January 1, 2026 to March 31, 2026)

THIS IS A SUMMARY OF THE QUARTERLY BUSINESS REPORT ORIGINALLY PREPARED IN KOREAN WHICH IS IN SUCH FORM AS REQUIRED BY THE KOREAN FINANCIAL SERVICES COMMISSION.

IN THE TRANSLATION PROCESS, SOME PARTS OF THE REPORT WERE REFORMATTED, REARRANGED OR SUMMARIZED FOR THE CONVENIENCE OF READERS.

ALL REFERENCES TO THE “COMPANY” SHALL MEAN SK TELECOM CO., LTD. AND, UNLESS THE CONTEXT OTHERWISE REQUIRES, ITS CONSOLIDATED SUBSIDIARIES. REFERENCES TO “SK TELECOM” SHALL MEAN SK TELECOM CO., LTD., BUT SHALL NOT INCLUDE ITS CONSOLIDATED SUBSIDIARIES.

UNLESS EXPRESSLY STATED OTHERWISE, ALL INFORMATION CONTAINED HEREIN IS PRESENTED ON A CONSOLIDATED BASIS IN ACCORDANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTED FOR USE IN KOREA (“K-IFRS”) WHICH DIFFER IN CERTAIN RESPECTS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN CERTAIN OTHER COUNTRIES, INCLUDING THE UNITED STATES. THE COMPANY HAS MADE NO ATTEMPT TO IDENTIFY OR QUANTIFY THE IMPACT OF THESE DIFFERENCES.

I.	COMPANY OVERVIEW

Omitted in quarterly reports in accordance with applicable Korean disclosure rules. For more information, please refer to the Company’s annual business report for the year ended December 31, 2025.

 

II.

BUSINESS

1. Business Overview

Each company in the consolidated entity is a separate legal entity providing independent services and products. The Company’s business is primarily separated into (1) the wireless business consisting of cellular voice, wireless data and wireless Internet services, (2) the fixed-line business consisting of fixed-line telephone, high-speed Internet, data and network lease services, among others and (3) other businesses consisting of commercial retail data broadcasting channel business, among others.

Set forth below is a summary description of the business of each of the Company’s material consolidated subsidiaries.

 

Classification		Company name		Description of business
Wireless		SK Telecom Co., Ltd.		Wireless voice and data telecommunications services via digital wireless networks
		PS&Marketing Co., Ltd. (“PS&Marketing”)		Sale of fixed-line and wireless telecommunications products through wholesale, retail and online distribution channels
		SK O&S Co., Ltd. (“SK O&S”)		Maintenance of base stations
		Service Ace Co., Ltd. (“Service Ace”)		Management and operation of customer centers
Fixed-line		SK Broadband Co., Ltd. (“SK Broadband”)		High-speed Internet, TV, telephone, commercial data and other fixed-line services and management of the transmission system for online digital contents   Various media-related services, such as channel management services including video-on-demand services
		Home & Service Co., Ltd. (“Home&Service”)		System maintenance of high-speed Internet, Internet protocol TV (“IPTV”) and fixed-line services
		SK Telink Co., Ltd. (“SK Telink”)		International wireless direct-dial “00700” services and mobile virtual network operator (“MVNO”) business
Other business		SK stoa Co., Ltd. (“SK Stoa”)		Operation of commercial retail data broadcasting channel services
		Atlas Investment		Investments
		SK Telecom Innovation Fund, L.P.		Investments
		SAPEON Inc.		Manufacture of non-memory and other electronic integrated circuits
		Astra AI Infra LLC		Investments
		SK Telecom Americas, Inc.		Information collection and consulting services

[Wireless Business]

 

A.

Overview

Wireless telecommunications companies provide services based on competitive strengths in handheld devices, affordable pricing, network coverage and an extensive contents library. The Company continues to maintain its reputation as the unparalleled premium network operator in the 5G market on the basis of its technological leadership and network management technology. With the world’s first commercialization of 5G technology in 2019, the Company continues to maintain its position as the top network operator in the 5G era and strives to provide differentiated services to its customers.

 

2

In order to strengthen its sales channels, the Company has been offering a variety of fixed-line and wireless telecommunications convergence products through its subsidiary, PS&Marketing. PS&Marketing provides differentiated service to customers through the establishment of new sales channels and product development. Additionally, SK O&S, the Company’s subsidiary responsible for the operation of the Company’s networks, including base stations and related transmission and power facilities, provides customers with quality network services and provides the Company with technological know-how in network operations.

The Company has been maintaining solid profitability based on the stable sales generated from its 5G subscribers, together with efficient investments in, and operation of, its wireless networks and stabilization of market competition. The number of the Company’s 5G subscribers has reached its maturation stage and continues to maintain a gradual upward trend. The Company recorded 17.80 million subscribers as of March 31, 2026, of which 5G subscribers accounted for 81%. The Company seeks to enhance profitability through stable market operations while striving to further expand customer choices and benefits in order to minimize the slowdown in the growths of wireless services revenue and Average Revenue Per User (“ARPU”). The Company seeks to achieve solid growth in profit from its wireless telecommunications business even in the mature 5G market by enhancing its fundamental competitive strengths, including product and channel realignment and the optimization of operations centered on customer lifetime value.

 

B.	Industry Characteristics

The telecommunications services market can be categorized into telecommunications services (such as fixed-line, wireless and leased line services, as well as sales intermediary services relating thereto and value-added services) and broadcasting and telecommunications convergence services (including IPTV and integrated fixed-line and wireless telecommunications services). Pursuant to the Telecommunications Business Act, the telecommunications services market can be further classified into basic telecommunications (fixed-line and wireless telecommunications), special category telecommunications (resale of telecommunications equipment, facilities and services) and value-added telecommunications (Internet connection and management, media contents and others).

The size of the domestic telecommunications services market is determined based on various factors specific to Korea, including the size of the population that uses telecommunications services and telecommunications expenditures per capita. While it is possible for Korean telecommunications service providers to provide services abroad through acquisitions or otherwise, foreign telecommunications services markets have their own characteristics depending, among others, on the regulatory environment and demand for telecommunications services.

 

C.	Growth Potential

The Korean mobile communications market is considered to have reached its maturation stage with more than a 100% penetration rate. However, the Korean mobile communications market continues to improve in the quality of services with the help of advances in network-related technology and the development of highly advanced smartphones which enable the provision of new information and communications technology (“ICT”) services for advanced multimedia contents, mobile commerce, mobility and other related services. In addition, the ultra-low latency and high capacity characteristics of 5G networks as well as the advancement of artificial intelligence (“AI”) are expected to accelerate the introduction of new services and the growth of Internet-of-Things (“IoT”)-based business-to-business (“B2B”) businesses.

 

(Unit: in 1,000 persons)
Classification				As of March 31, 2026				As of December 31,
								2025				2024
Number of subscribers		SK Telecom			30,959				30,853				31,786
		Others (KT, LG U+)			41,341				41,466				38,360
		MVNO			20,155				19,885				17,825
		Total			92,455				92,203				87,971

 

*	Source: Wireless telecommunications service data from the Ministry of Science and ICT (“MSIT”) as of February 28, 2026.

 

D.	Domestic and Overseas Market Conditions

The Korean mobile communications market includes the entire population of Korea with mobile communications service needs, and almost every Korean is considered a potential user. Sales revenue related to data services has been growing due to the increasing popularity of smartphones and high-speed wireless networks. There is also a growing importance of the B2B segment, which creates added value by selling and developing various solutions. The telecommunications industry is a regulated industry requiring license and approval from the MSIT.

In the wireless business, industry players compete on the basis of the following three main competitive elements:

 

3

(i) brand competitiveness, which refers to the overall sense of recognition and loyalty experienced by customers with respect to services and values provided by a company, including the images created by a company’s comprehensive activities and communications on top of the actual services rendered;

(ii) product and service competitiveness, which refers to the fundamental criteria for wireless telecommunications services, including voice quality, service coverage, broad ranges of rate plans, diversified mobile Internet services, price and quality of devices, and customer service quality, as well as the ability to develop new services that meet customer needs in a market environment defined by convergence; and

(iii) sales competitiveness, which refers to novel and diversified marketing methods and the strength of the distribution network.

Set forth below is the historical market share of the Company (excluding MVNO subscribers).

 

						(Unit: in percentages)
Classification		As of March 31, 2026				As of December 31,
						2025				2024
Mobile communication services			42.8				42.7				45.3

 

*	Source: Wireless telecommunications service data from the MSIT as of February 28, 2026.

[Fixed-line Business]

 

A.

Overview

SK Broadband’s business is divided into the media business segment, which provides IPTV and cable TV services, and the fixed-line business segment, which provides high-speed Internet, telecommunications, leased lines and data center services. For the three months ended March 31, 2026, SK Broadband recorded Won 1.15 trillion in revenue on a consolidated basis, which represented a 3.2% increase from Won 1.11 trillion for the three months ended March 31, 2025. Such increase was primarily attributable to the growth of SK Broadband’s high-speed Internet business resulting from an increase in the number of subscribers and the growth of its B2B business primarily focused on new data centers.

For the three months ended March 31, 2026, the media business segment recorded Won 0.47 trillion in revenue, which represented a 1.3% decrease compared to the three months ended March 31, 2025. For the three months ended March 31, 2026, the fixed-line business segment recorded Won 0.68 trillion in revenue, which represented a 6.7% increase compared to the three months ended March 31, 2025.

 

B.	Industry Characteristics

The domestic telecommunications service industry displays the typical characteristics of a domestic industry given that its coverage area is limited to Korea. As a result, the size of the industry is greatly affected by the domestic user population and the level of telecommunications service expenditures in light of the domestic income level. Domestic telecommunications companies may expand overseas through mergers and acquisitions or direct expansion, but the overseas telecommunications service industries are subject to inherently different industry characteristics from the domestic one, depending on the regulatory and demand characteristics of each country.

The broadcasting business involves the planning, programming or production of broadcasting programs and the process of transmitting them to viewers through telecommunications facilities. The broadcasting market can primarily be categorized into terrestrial broadcasting, fixed-line TV broadcasting, satellite broadcasting and programming-providing businesses, in each case pursuant to the Broadcasting Act, as well as Internet multimedia broadcasting business pursuant to the Internet Multimedia Broadcast Services Act.

SK Broadband engages in the fixed-line TV broadcasting business, which is defined as the business of managing and operating fixed-line TV broadcasting stations (including their facilities and employees for the purpose of providing multi-channel broadcasting) and providing broadcasts through transmission and line facilities. The Internet multimedia broadcasting refers to the broadcasting of programs through a combination of various contents including data, video, voice, sound and/or e-commerce, including real-time broadcasting, while guaranteeing a consistent service quality through a bidirectional Internet protocol using a broadband integrated information network.

 

4

As a result of the government’s direct and indirect control over the fixed-line telecommunications industry, ranging from service licensing to business activities, the industry’s growth potential and degree of competition are greatly affected by the government’s regulatory policies. The fixed-line telecommunications industry is also a technology-intensive industry that evolves rapidly and continuously through the development of communications technology and equipment, which requires proactive responses in meeting the various needs of subscribers by developing new services and penetrating the market. Fixed-line telecommunications services have become essential commodities and act as the foundation for integration and convergence with various other services. The essential nature of such services provides stable demand, resulting in low sensitivity to economic conditions.

In addition, due to the government’s restrictive licensing policies aimed at efficient resource allocation, the Korean fixed-line services industry is marked by a high level of market concentration. In the fixed-line and wireless services markets, an oligopolistic structure has been established, centered around the Company (including SK Broadband), KT and LG U+. However, with the development of faster and more stable telecommunications technologies, integrated convergence products combining fixed-line and wireless communications with broadcasting have become the market standard. Consequently, competition among operators is now centered on providing high-quality services and ensuring customer satisfaction.

The high-speed Internet market continues to grow as mobile data traffic surges due to the expanding use of mobile devices for activities such as AI utilization, video streaming and online gaming. In particular, Wi-Fi services, which provide a stable and fast communication environment without imposing significant additional costs despite increased usage, have become essential communication services. Consequently, demand for Giga Internet, necessary for providing these services, is expanding, and related businesses are growing steadily.

In the pay TV market, competition is shifting from a focus on traditional channels and platforms to a content-centric model due to the expansion of global OTT services. Consequently, the Company is pursuing content differentiation to reflect the rapid changes in viewers’ content consumption preferences and usage patterns, and is seeking new growth opportunities in the home platform sector by providing personalized services utilizing AI technology, smart TVs and set-top boxes.

In the enterprise business market, growth opportunities are expanding, particularly in new areas such as AI data centers. Furthermore, to respond to continually increasing market demand and strengthen business competitiveness, the Company is focusing on securing core infrastructure, such as data centers and dedicated lines, and continues its efforts to establish a stable revenue base.

 

C.	Growth Potential

 

				(Unit: in persons)
Classification				As of March 31, 2026***				As of December 31,
								2025				2024
Fixed-line Subscribers*		High-speed Internet			25,331,849				25,233,811				24,721,782
		Fixed-line telephone (including Voice over Internet Protocol (“VoIP”))**			17,416,422				17,581,886				18,347,951
		IPTV			21,310,250				21,310,250				21,190,908
		Cable TV			12,273,098				12,273,098				12,342,797

 

*	Source: MSIT website.

**	With respect to fixed-line telephone, the number of subscribers was calculated based on the number of fixed-line and VoIP subscribers of the Company, KT and LG U+.

***	High-speed Internet and fixed-line telephone subscribers represent the number of subscribers as of February 28, 2026, while IPTV and cable TV subscribers represent the average number of subscribers in the second half of 2024.

 

D.	Cyclical Nature and Seasonality

There is little difference among the services provided by operators of high-speed Internet, fixed-line telephone and broadcasting services. Such services, which demonstrate characteristics of essential public utilities, are subject to a subscriber-based business model, and are not sensitive to cyclical economic changes. Due to the low income elasticity of telecommunications services, the overall telecommunications market is not expected to be particularly affected by an economic downturn.

 

5

E.	Domestic and Overseas Market Conditions

Set forth below is the historical market share of SK Broadband.

 

(Unit: in percentages)
Classification		As of March 31, 2026***				As of December 31,
						2025				2024
High-speed Internet (including resales)*			28.8				28.7				28.9
Fixed-line telephone (including VoIP)*			18.6	**			18.6				18.3
IPTV*			31.8				31.8				31.9
Cable TV*			22.9				22.9				22.8

 

*	Source: MSIT website.

**	With respect to fixed-line telephone, the market share was calculated based on market shares among SK Broadband, KT and LG U+ and is based on the number of fixed-line and VoIP subscribers.

***	Market shares for the high-speed Internet and fixed-line telephone markets are based on the market shares as of February 28, 2026, and market shares for the IPTV and cable TV markets are based on the average number of subscribers in the second half of 2024.

SK Broadband is engaged in a number of business areas including high-speed Internet, home telephone, corporate business, IPTV and cable TV pursuant to the relevant communications regulations such as the Telecommunications Business Act, the Internet Multimedia Broadcast Services Act and the Broadcasting Act. In each of its principal business areas, SK Broadband competes on the basis of price, service quality and speed. In the IPTV business, the ability to offer complex services and differentiated contents are becoming increasingly important. The basic telecommunications business is characterized by high barriers to entry, as it requires authorization from the Minister of the MSIT under the Telecommunications Business Act, and an oligopolistic structure has been established, comprising SK Broadband, KT and LG U+.

[Other Businesses]

 

A.	Other businesses

SK Stoa operates the commercial retail data broadcasting channel business, offering an interactive service that integrates television home shopping and data home shopping services. Such integrated service allows television viewers to organize various product categories on the television screen and select and purchase desired products using a television remote control or mobile device, unlike traditional home shopping services that only allowed for real-time purchase through the relevant broadcast.

2. Key Financial Data by Business Line

 

A.

Assets

 

										(Unit: in millions of Won and percentages)
Classification		As of March 31, 2026								As of December 31,
										2025								2024
		Amount				Ratio				Amount				Ratio				Amount				Ratio
Wireless			25,438,212				74	%			25,731,253				75	%			25,154,898				75	%
Fixed-line			7,398,720				22	%			7,158,666				21	%			7,174,920				21	%
Other			1,400,517				4	%			1,392,466				4	%			1,276,546				4	%
Subtotal			34,237,450				100	%			34,282,385				100	%			33,606,364				100	%
Consolidation Adjustment			(4,215,492	)			—				(4,174,602	)			—				(3,091,111	)			—
Total			30,021,958				—				30,107,783				—				30,515,254				—

 

B.

Revenue

 

						(Unit: in millions of Won and percentages)
Classification		For the three months ended March 31, 2026								For the year ended December 31,
										2025								2024
		Amount				Ratio				Amount				Ratio				Amount				Ratio
Wireless			3,268,788				74	%			12,552,543				73	%			13,318,213				74	%
Fixed-line			1,049,235				24	%			4,191,113				25	%			4,075,412				23	%
Other			74,289				2	%			355,557				2	%			546,984				3	%
Total			4,392,312				100	%			17,099,213				100	%			17,940,609				100	%

 

6

C.	Operating Profit

 

						(Unit: in millions of Won and percentages)
Classification		For the three months ended March 31, 2026								For the year ended December 31,
										2025								2024
		Amount				Ratio				Amount				Ratio				Amount				Ratio
Wireless			414,888				77	%			817,941				75	%			1,529,971				84	%
Fixed-line			120,700				22	%			308,372				28	%			366,517				20	%
Other			2,652				1	%			(30,551	)			(3	)%			(64,929	)			(4	)%
Subtotal			538,240				100	%			1,095,762				100	%			1,831,559				100	%
Consolidation Adjustment			(649	)			—				(22,547	)			—				(8,150	)			—
Total			537,591				—				1,073,215				—				1,823,409				—

3. Updates on Major Products and Services

 

								(Unit: in millions of Won and percentages)
Business		Major Companies		Items		Major Trademarks		For the three months ended March 31, 2026								For the year ended December 31,
																2025								2024
								Consolidated Sales Amount				Ratio				Consolidated Sales Amount				Ratio				Consolidated Sales Amount				Ratio
Wireless		SK Telecom, PS&Marketing, Service Ace, SK O&S, etc.		Mobile communications service, wireless data service, ICT service and others		T, 5GX, T Plan and others			3,268,788				74	%			12,552,543				73	%			13,318,213				74	%
Fixed-line		SK Broadband, SK Telink, Home&Service, etc.		Fixed-line phone, high-speed Internet, data and network lease service and others		B tv, 00700 international call, 7mobile and others			1,049,235				24	%			4,191,113				25	%			4,075,412				23	%
Other		SK Stoa, etc.		Commercial retail data broadcasting channel service and others		Stoa ON			74,289				2	%			355,557				2	%			546,984				3	%
Total									4,392,312				100	%			17,099,213				100	%			17,940,609				100	%

4. Price Trends for Major Products

[Wireless Business]

As of March 31, 2026, based on the Company’s standard monthly subscription plan, the basic service fee was Won 12,100 (including value-added tax) and the usage fee was Won 1.98 per second. Among the 4G-based plans, the “T-Plan Safe 2.5G” provides 2.5 GB of data and unlimited voice calls at Won 43,000 per month (including value-added tax). Among the 5G-based plans, the “Basic” plan provides 11 GB of data and unlimited voice calls at Won 49,000 per month (including value-added tax). In March 2024, the Company launched the “Compact” plan, which provides 5G data at Won 39,000 per month (including value-added tax). In October 2025, the Company launched six types of subscription plans for “air”, our digital communication service available exclusively for unlocked devices. The Company plans to continue to restructure its subscription plans to expand choices for customers and introduce new services that reach out to different customer segments. The Company provides a variety of other subscription plans catering to subscriber demand, which may be reviewed on the Company’s website at www.tworld.co.kr.

[Fixed-line Business]

The monthly subscription fees for the services offered by SK Broadband are as follows:

 

-

IPTV (media business segment): from Won 11,000 (B tv Mini) to Won 50,600 (B tv All + Catch On + major networks) under no fixed-term contract

 

7

-

Cable TV (based on Suwon broadcasting) direct cable TV: from Won 4,400 or less (B tv Cable 20) to Won 16,500 or less (B tv Cable 90) under no fixed-term contract, and from Won 3,520 or less (B tv Cable 20) to Won 13,200 (B tv Cable 90) under a three-year contract

 

-

Digital cable TV: from Won 13,200 or less (B tv Cable 100) to Won 26,400 (B tv Cable 200) under no fixed-term contract, and from Won 10,560 (B tv Cable 100) to Won 21,120 (B tv Cable 200) under a three-year contract

 

-

Technology-neutral service: from Won 13,200 (B tv Pop 100) to Won 33,990 (B tv Pop 230+) under no fixed-term contract, and from Won 7,700 (B tv Pop 100) to Won 20,900 (B tv Pop 230+) under a three-year contract

 

-

High-speed Internet service (fixed-line business segment): from Won 30,800 (Speed Internet) to Won 104,500 (Giga Premium×10) under no fixed-term contract, and from Won 22,000 (Speed Internet) to Won 82,500 (Giga Premium×10) under a three-year contract

 

-

Bundled products that combine high-speed Internet and IPTV services: from Won 33,000 (Speed Internet + B tv Economy) to Won 111,100 (Giga Premium×10 + B tv All + Catch On + major networks) under a three-year contract

The above fees may vary depending on the conditions for subscription, including services provided, contract period and bundled products.

SK Broadband is preparing a variety of new rate plans for 2026. In January 2026, SK Broadband launched the “Giga Wi-Fi 7” plan, which utilizes the next-generation wireless standard, and offers a stable wireless Internet environment with transmission speeds up to twice as fast as the existing “Giga Wi-Fi 6” plan and minimizes latency and disconnections through multi-link operation (“MLO”) technology. In addition, a minimalist design was applied to better harmonize with interior spaces, and the plan is offered at a competitive rate of Won 27,500 per month for 1 Gbps Internet when bundled with a wireless plan.

In February 2026, SK Broadband launched the “AI 5 Set-Top Box,” which features on-device AI powered by a neural processing unit (“NPU”). The AI 5 Set-Top Box offers functions that optimize image quality and color tones for each scene and improve voice clarity, while incorporating a minimalist design and an ultra-low-power design with standby power of less than 1W. It is available for Won 7,700 per month based on a three-year contract. Subscribers can also choose the “AI 5 Set-Top Box Care” package, which offers a reduced monthly fee of Won 5,500, as well as waivers on service call fees and compensation charges for damages, thereby enhancing customer convenience and satisfaction.

SK Broadband also provides a variety of other subscription plans based on consumer demand, which may be reviewed on SK Broadband’s website at www.bworld.co.kr.

5. Investment Status

[Wireless Business]

 

A.	Investment in Progress and Future Investment Plan

 

(Unit: in billions of Won)

Purpose of investment

Subject of investment

Investment period

Expected investment amount

Amount already invested

Investment effect

Upgrade/ New installation

Network, systems and others

Three months ended March 31, 2026

To be determined

37

Upgrades to the existing services and expanded provision of network services including 5G

 

8

[Fixed-line Business]

 

A.	Investment in Progress and Future Investment Plan

 

(Unit: in billions of Won)
Purpose of investment		Subject of investment		Investment period		Amount already invested*		Future investment		Investment effect
Coverage expansion, upgrade of media platform		Network, systems, Internet data center and others		Three months ended March 31, 2026		99		To be determined		Securing subscriber network and equipment; quality and system improvement

 

*	Represents investments by SK Broadband on a separate basis.

6. Revenues

 

						(Unit: in millions of Won)
Business		Sales type				Item				For the three months ended March 31, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Wireless			Services			Mobile communications service, wireless data service, ICT service and others		Export			46,559				196,249				212,235
								Domestic			3,222,229				12,356,294				13,105,978
								Subtotal			3,268,788				12,552,543				13,318,213
Fixed-line			Services			Fixed-line phone, high-speed Internet, data and network lease line service and others		Export			52,760				205,494				213,815
								Domestic			996,475				3,985,619				3,861,597
								Subtotal			1,049,235				4,191,113				4,075,412
Other			Services			Commercial retail data broadcasting channel services and others		Export			—				—				—
								Domestic			74,289				355,557				546,984
								Subtotal			74,289				355,557				546,984
Total								Export			99,319				401,744				426,050
								Domestic			4,292,993				16,697,469				17,514,559
								Total			4,392,312				17,099,213				17,940,609

 

		(Unit: in millions of Won)
For the three months ended March 31, 2026		Wireless				Fixed-line				Other				Sub total				Consolidation adjustment				After consolidation
Total sales			3,640,613				1,361,902				77,193				5,079,708				(687,396	)			4,392,312
Internal sales			371,825				312,667				2,904				687,396				(687,396	)			—
External sales			3,268,788				1,049,235				74,289				4,392,312				—				4,392,312
Operating profit (loss)			414,888				120,700				2,652				538,240				(649	)			537,591
Finance profit (loss)																							(61,831	)
Loss from investments in subsidiaries, associates and joint ventures																							(15,131	)
Other non-operating profit (loss)																							4,938
Profit before income tax																							465,567

7. Derivative Transactions

 

A.	Current Swap Contract Applying Cash Flow Risk Hedge Accounting

Currency and interest rate swap contracts under cash flow hedge accounting as of March 31, 2026 are as follows:

[SK Telecom]

 

Borrowing date		Hedged item		Hedged risk		Contract type		Financial institution		Duration of contract
July 20, 2007		Fixed rate foreign currency denominated bonds (face value of US$400,000,000)		Foreign currency risk		Cross currency swap		Morgan Stanley and four other banks		July 20, 2007 – July 20, 2027
June 28, 2023		Fixed rate foreign currency denominated bonds (face value of US$300,000,000)		Foreign currency risk		Cross currency swap		Citibank, Shinhan Bank, KDB, J.P. Morgan		June 28, 2023 – June 28, 2028
October 7, 2024		Floating rate Won denominated borrowings (face value of Won 200 billion)		Interest rate risk		Interest rate swap		DBS Bank Ltd.		October 10, 2024 – October 8, 2026
May 28, 2025		Floating rate foreign currency denominated bonds (face value of US$300,000,000)		Foreign currency risk and interest rate risk		Cross currency interest rate swap		DBS Bank Ltd.		May 28, 2025 – May 26, 2028

 

9

[SK Broadband]

 

Borrowing date		Hedged item		Hedged risk		Contract type		Financial institution		Duration of contract
June 28, 2023		Non-guaranteed foreign currency denominated bonds (face value of US$300,000,000)		Foreign currency risk		Cross currency swap		Citibank, Shinhan Bank, KDB, J.P. Morgan		June 28, 2023 – June 28, 2028

8. Major Contracts

None.

9. R&D Investments

Set forth below are the Company’s R&D expenditures.

 

				(Unit: in millions of Won except percentages)
Category				For the three months ended March 31, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024				Remarks
Raw material					1				27				492				—
Labor					26,213				116,856				134,508				—
Depreciation					32,117				123,083				134,989				—
Commissioned service					10,376				49,033				61,588				—
Others					22,177				66,773				61,267				—
Total R&D costs					90,885				355,772				392,844				—
Government Subsidies					—				—				—				—
Accounting		Sales and administrative expenses			86,607				338,841				378,079				—
		Development costs (Intangible assets)			4,279				16,931				14,765				—
R&D cost / sales amount ratio (Total R&D costs / Current sales amount×100)					2.07	%			2.08	%			2.19	%			—

10. Other Information Relating to Investment Decisions

 

A.	Brand Management Policies

The Company manages its corporate brand and other product brands in a comprehensive way to protect and increase their value. The Company operates an intranet system called “Comm.ON” in order to implement consistent communication with consumers across various areas including branding, design, marketing and public relations, and systematically manages the development, registration and licensing of brands through such system.

 

B.	Business-related Intellectual Property

[SK Telecom]

As of March 31, 2026, the registered patents and trademarks held by the Company included 2,875 Korean-registered patents, 1,808 foreign-registered patents and 746 Korean-registered trademarks. The number of registered patents and trademarks is subject to constant change due to the acquisition of new rights, expiration of terms, abandonments and dispositions.

 

10

[SK Broadband]

As of March 31, 2026, SK Broadband held 193 Korean-registered patents and 38 foreign-registered patents (including those held jointly with other companies). It also holds 245 Korean-registered trademarks. The number of registered patents and trademarks is subject to continual change due to the acquisition of new rights, expiration of terms, abandonments and dispositions.

 

C.	Business-related Pollutants and Environmental Protection

[SK Telecom]

The Company does not directly engage in any manufacturing and therefore does not undertake any industrial processes that emit pollutants into the air or industrial processes in which hazardous materials are used. Nevertheless, the Company clearly recognizes the severity of the climate crisis and has been diligently fulfilling its social obligations by establishing a systematic and practical environmental management strategy system. Under the vision of “realizing a sustainable future based on AI” and to achieve Net Zero by 2050, the Company is making efforts to (1) preemptively respond to climate change, (2) improve its environmental management system and (3) create an eco-friendly green culture. To this end, the Company was one of the first information technology companies in Korea to join the RE100 (Renewable Electricity 100%) initiative and signed a green premium contract with Korea Electric Power Corporation. The Company has been implementing company-wide adoption of renewable energy through efforts such as installing solar power generation equipment in its office buildings and base stations. In addition, the Company leads in energy savings and environmental protections based on AI technology, and recently became the first company in the telecommunications industry to obtain carbon emission rights by reducing greenhouse gas through integration of telecommunications equipment and technology upgrades.

[SK Broadband]

SK Broadband does not directly engage in any manufacturing processes that emit environmental pollutants, and more than 99% of its greenhouse gas emissions is indirect emissions from its use of external electricity. SK Broadband was selected as a business subject to allocation of emission permits as part of Korea’s greenhouse gas emissions trading scheme that commenced in 2015, and it actively fulfills its obligations and consistently achieves the targets set by the government.

In 2021, SK Broadband declared its goal to achieve Net Zero by 2045 in an effort to actively participate in the international community’s response to climate change. Prior to the declaration, SK Broadband had already subscribed to the RE100 initiative in 2020. Since 2021, SK Broadband has participated in Korea Electrical Power Corporation’s renewable energy power purchase program, “Green Premium,” to purchase renewable energy and has installed additional solar power generation facilities to increase the self-production and use of renewable energy.

 

11

III.	FINANCIAL INFORMATION

1. Summary Financial Information (Consolidated and Separate)

 

A.	Summary Financial Information (Consolidated)

Below is the summary consolidated financial information of the Company as of March 31, 2026, December 31, 2025 and December 31, 2024 and for the three months ended March 31, 2026 and for the years ended December 31, 2025 and 2024. The Company’s interim consolidated financial statements as of March 31, 2026 and December 31, 2025 and for the three months ended March 31, 2026 and 2025, which are prepared in accordance with K-IFRS, are attached hereto.

 

(Unit: in millions of Won except number of companies)
		As of March 31, 2026				As of December 31, 2025				As of December 31, 2024
Assets
Current Assets			7,212,945				6,727,130				7,476,682
• Cash and Cash Equivalents			1,474,680				1,490,024				2,023,721
• Accounts Receivable – Trade, net			1,958,799				1,918,502				1,989,306
• Accounts Receivable – Other, net			530,503				346,326				369,192
• Others			3,248,963				2,972,278				3,094,463
Non-Current Assets			22,809,013				23,380,653				23,038,573
• Long-Term Investment Securities			3,287,690				3,188,572				1,877,922
• Investments in Associates and Joint Ventures			2,271,228				2,238,470				2,341,827
• Property and Equipment, net			11,348,717				11,902,173				12,617,394
• Goodwill			2,072,493				2,072,493				2,072,493
• Intangible Assets, net			1,550,235				1,710,620				2,194,871
• Others			2,278,650				2,268,325				1,934,066
Total Assets			30,021,958				30,107,783				30,515,255
Liabilities
Current Liabilities			6,088,614				6,529,775				9,224,278
Non-Current Liabilities			10,585,727				10,622,716				9,463,343
Total Liabilities			16,674,341				17,152,491				18,687,621
Equity
Equity Attributable to Owners of the Parent Company			13,284,851				12,863,103				11,698,627
Share Capital			30,493				30,493				30,493
Capital Surplus (Deficit) and Other Capital Adjustments			(13,850,352	)			(12,131,340	)			(11,954,936	)
Retained Earnings			24,935,298				22,938,268				22,976,127
Reserves			2,169,412				2,025,682				646,943
Non-controlling Interests			62,766				92,189				129,007
Total Equity			13,347,617				12,955,292				11,827,634
Total Liabilities and Equity			30,021,958				30,107,783				30,515,255

 

(Unit: in millions of Won except per share data and number of consolidated subsidiaries)
		For the three months ended March 31, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Operating Revenue			4,392,312				17,099,213				17,940,609
Operating Profit			537,591				1,073,215				1,823,409
Profit Before Income Tax			465,567				722,261				1,761,765
Profit for the Period			316,415				375,084				1,387,095
Profit for the Period Attributable to Owners of the Parent Company			322,389				408,410				1,250,155
Profit for the Period Attributable to Non-controlling Interests			(5,974	)			(33,326	)			136,940
Basic Earnings Per Share (Won)			1,490				1,825				5,780
Diluted Earnings Per Share (Won)			1,488				1,825				5,765
Total Number of Consolidated Subsidiaries			19				19				21

 

12

B.	Summary Financial Information (Separate)

Below is the summary separate financial information of the Company as of March 31, 2026, December 31, 2025 and December 31, 2024 and for the three months ended March 31, 2026 and for the years ended December 31, 2025 and 2024. The Company’s interim separate financial statements as of March 31, 2026 and December 31, 2025 and for the three months ended March 31, 2026 and 2025, which are prepared in accordance with K-IFRS, are attached hereto.

 

			(Unit: in millions of Won)
		As of March 31, 2026				As of December 31, 2025				As of December 31, 2024
Assets
Current Assets			5,027,178				4,932,557				5,242,405
• Cash and Cash Equivalents			502,360				771,861				1,165,158
• Accounts Receivable – Trade, net			1,473,774				1,469,426				1,508,893
• Accounts Receivable – Other, net			643,027				393,136				390,243
• Others			2,408,017				2,298,134				2,178,111
Non-Current Assets			19,713,222				20,216,179				19,343,221
• Long-Term Investment Securities			2,475,763				2,396,996				1,418,465
• Investments in Subsidiaries and Associates			5,888,482				5,892,726				4,899,558
• Property and Equipment, net			7,229,934				7,680,504				8,515,225
• Goodwill			1,306,236				1,306,236				1,306,236
• Intangible Assets, net			1,092,400				1,230,202				1,683,018
• Others			1,720,407				1,709,515				1,520,719
Total Assets			24,740,400				25,148,736				24,585,626
Liabilities
Current Liabilities			4,509,974				5,070,242				6,240,886
Non-Current Liabilities			7,861,485				8,087,444				7,383,886
Total Liabilities			12,371,459				13,157,686				13,624,772
Equity
Share Capital			30,493				30,493				30,493
Capital Surplus (Deficit) and Other Capital Adjustments			(6,247,105	)			(4,547,673	)			(4,551,820	)
Retained Earnings			17,211,460				15,199,915				15,273,451
Reserves			1,374,093				1,308,315				208,730
Total Equity			12,368,941				11,991,050				10,960,854
Total Liabilities and Equity			24,740,400				25,148,736				24,585,626

 

(Unit: in millions of Won)
		For the three months ended March 31, 2026				For the year ended December 31, 2025				`For the year ended December 31, 2024
Operating Revenue			3,105,789				12,051,068				12,774,060
Operating Profit			409,528				811,842				1,523,175
Profit Before Income Tax			433,942				736,498				1,477,084
Profit for the Period			332,692				410,795				1,280,484
Basic Earnings Per Share (Won)			1,539				1,836				5,923
Diluted Earnings Per Share (Won)			1,537				1,836				5,907

 

13

2. Dividends and Others

 

A.	Dividend Policy

 

(1)

Financial Metrics and Calculation Methods Used to Determine Dividend Targets

In April 2024, the Company disclosed its shareholder return policy for fiscal years 2024 through 2026, under which the total amount of shareholder return for each year is expected to be at least 50% of the adjusted profit for the year on a consolidated basis. Shareholder returns are expected to be provided in the form of cash dividend distribution and/or through acquisition and cancellation of the Company’s treasury shares. The Board of Directors will make its determinations on dividends in accordance with such policy.

Adjusted consolidated profit is based on profit attributable to controlling interests, excluding one-time non-recurring gains and losses.

 

(2)

Outlook for Future Dividend Levels and Future Dividend Policy Direction

The Company seeks to enhance its enterprise value through distribution of cash dividends based on stable business performance and by increasing long-term shareholder returns based on sustainable growth. The Company has established and is implementing a capital allocation strategy that balances the use of additional free cash flow generated from enhancement in performance and operational improvement across shareholder returns, investments for growth and enhancement in financial structure.

The Company determines the amount of its shareholder return in consideration of a comprehensive set of factors including its business performance, investment plans, financial status and prospects, and the Company may make shareholder return in the form of cash or shares in accordance with its Articles of Incorporation. Cash dividends are determined based on the Company’s consideration of investment needs for its continued future growth as well as its annual business performance and overall cash flow status. In the case of share dividends, the type of the shares to be distributed may be determined pursuant to the resolution of the Company’s general meeting of shareholders.

In accordance with the global trend towards stable dividend distribution, the Company adopted a quarterly dividend distribution policy through the approval of certain amendments to the Company’s Articles of Incorporation at the 37th General Meeting of Shareholders held in March 2021 and has been distributing quarterly dividends since the second quarter of 2021.

The Company has engaged in repurchases and cancelations of its own shares from time to time to enhance its enterprise value in consideration of the market price of the Company’s shares and its financial resources. From 2020 to 2021, the Company purchased approximately Won 500 billion of treasury shares, and in May 2021, the Company canceled 8,685,568 units of previously acquired treasury shares (10.76% of the total number of shares issued at the time) to enhance shareholder value. In addition, in 2023, the Company purchased approximately Won 300 billion of treasury shares, and in February 2024, the Company canceled 4,043,091 units of treasury shares (1.85% of the total number of shares issued at the time).

 

(3)

Policy on Restriction of Dividends

Not Applicable.

 

B.	Matters related to Provision of Dividend Predictability

 

(1)

Dividend Improvement Procedures in the Articles of Incorporation

 

14

Classification		Annual Dividends		Quarterly or Interim Dividends
Authority for deciding dividend amounts		General Meeting of Shareholders		Board of Directors
Whether it is possible to set the dividend record date after the dividend amount is determined		Yes		Yes
Plans for implementing dividend improvement procedures		—		—

 

*	Following the amendments to the Company’s Articles of Incorporation at the 40th General Meeting of Shareholders on March 26, 2024, the Company’s dividend policy was improved by allowing the annual dividend record date to be set after determination of the dividend amount.

**	Following the amendments to the Company’s Articles of Incorporation at the 41st General Meeting of Shareholders on March 26, 2025, the Company’s dividend policy was further improved by allowing the quarterly dividend record date to be set after determination of the dividend amount.

 

(2)

Status of Dividend Amount Determination Date and Dividend Record Date

 

Classification

Fiscal month

Dividend status

Dividend amount determination date

Dividend record date

Provision of dividend predictability

Remarks

Quarterly dividend

March 2026

Declared

April 27, 2026

May 31, 2026

Provided

—

Annual dividend

December 2025

Not Declared

—

—

Provided

—

Quarterly dividend

September 2025

Not Declared

—

—

Provided

—

Quarterly dividend

June 2025

Declared

July 24, 2025

August 31, 2025

Provided

—

Quarterly dividend

March 2025

Declared

April 24, 2025

May 31, 2025

Provided

—

Annual dividend

December 2024

Declared

March 26, 2025

February 28, 2025

Provided

—

Quarterly dividend

September 2024

Declared

October 24, 2024

September 30, 2024

Not Provided

—

Quarterly dividend

June 2024

Declared

July 25, 2024

June 30, 2024

Not Provided

—

Quarterly dividend

March 2024

Declared

April 25, 2024

March 31, 2024

Not Provided

—

Annual dividend

December 2023

Declared

March 26, 2024

December 31, 2023

Not provided

—

Quarterly dividend

September 2023

Declared

October 25, 2023

September 30, 2024

Not provided

—

Quarterly dividend

June 2023

Declared

July 26, 2023

June 30, 2023

Not Provided

—

Quarterly dividend

March 2023

Declared

April 20, 2023

March 31, 2023

Not Provided

—

 

*

After reporting to the Board of Directors, the Company disclosed through a voluntary disclosure of management matters that it will not pay cash dividends in light of changes to the business environment. The disclosure for the third quarter of 2025 was made on October 30, 2025 and the disclosure for the year ended December 31, 2025 was made on February 5, 2026.

As there have been no material changes to the key dividend indicators or past distributions of dividends, such information has been omitted in this quarterly report in accordance with applicable Korean disclosure rules. For more information, please refer to the Company’s annual business report for the year ended December 31, 2025.

3. Use of Direct Financing

 

A.	Use of Proceeds from Public Offerings

[SK Telecom]

Not Applicable.

[SK Broadband]

 

(As of March 31, 2026)

(Unit: in millions of Won)

Category

Bond Series

Payment Date

Planned Use of Proceeds

Actual Use of Proceeds

Reasons for Difference

Use

Amount

Use

Amount

Corporate bond

Series 59-1

February 12, 2026

Facility fund

210,000

—

—

Related investment not yet due

Corporate bond

Series 59-2

February 12, 2026

Facility fund

30,000

—

—

Related investment not yet due

 

15

4. Other Matters Related to Financial Information

 

A.	Restatement of the Financial Statements

Not applicable.

 

B.	Loss Allowance

 

(1)

Loss Allowance of Trade and Other Receivables

 

			(Unit: in millions of Won, except percentages)
		For the three months ended March 31, 2026
		Gross amount				Loss Allowance				Percentage
Accounts receivable – trade			2,245,195				277,694				12.4	%
Loans			131,320				19,956				15.2	%
Accounts receivable – other			723,694				21,570				3.0	%
Accrued income			1,635				—				—
Guarantee deposits			264,450				—				—
Total			3,366,294				319,220				9.5	%
			(Unit: in millions of Won, except percentages)
		For the year ended December 31, 2025
		Gross amount				Loss Allowance				Percentage
Accounts receivable – trade			2,194,385				267,482				12.2	%
Loans			121,702				19,854				16.3	%
Accounts receivable – other			531,547				20,459				3.8	%
Accrued income			1,998				—				—
Guarantee deposits			270,219				—				—
Total			3,119,851				307,795				9.9	%
			(Unit: in millions of Won, except percentages)
		For the year ended December 31, 2024
		Gross amount				Loss Allowance				Percentage
Accounts receivable – trade			2,258,412				258,030				11.4	%
Loans			141,609				41,958				29.6	%
Accounts receivable – other			568,072				25,628				4.5	%
Accrued income			4,242				—				—
Guarantee deposits			275,450				—				—
Total			3,247,785				325,616				10.0	%

 

(2)

Movements in Loss Allowance of Trade and Other Receivables

 

											(Unit: in millions of Won)
		For the three months ended March 31, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Beginning balance			307,795				325,615				318,401
Effect of change in accounting policy			—				—				—
Increase of loss allowance			11,422				47,465				54,703
Reversal of loss allowance			—				—				—
Write-offs			191				(65,285	)			(44,556	)
Other			(188	)			—				(2,933	)
Ending balance			319,220				307,795				325,615

 

(3)

Policies for Loss Allowance

The Company establishes loss allowances based on the likelihood of recoverability of trade and other receivables based on their aging at the end of the period and past customer default experience for the past three years. With respect to trade receivables relating to wireless telecommunications services, the Company considers the likelihood of recovery based on past customer default experience and the length of default in connection with the type of default (e.g., whether the customer’s service has been terminated or is continued). Consistent with customary practice, the Company writes off trade and other receivables for which the prescription period has passed or that are determined to be impossible or economically too costly to collect, including receivables that are less than Won 200,000 and more than six months overdue and receivables that have been determined to be the subject of identity theft.

 

16

(4)

Aging of Accounts Receivable

 

											(Unit: in millions of Won, except percentages)
		As of March 31, 2026
		Six months or less				From six months to one year				From one year to three years				More than three years				Total
Accounts receivable – general			1,971,558				61,201				161,670				50,767				2,245,195
Percentage			87.8	%			2.7	%			7.2	%			2.3	%			100.0	%

 

C.	Inventories

 

(1)

Detailed Categories of Inventories

 

			(Unit: in millions of Won, except percentages)
Account Category		For the three months ended March 31, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Merchandise			185,214				154,054				183,202
Goods in transit			—				—				—
Other inventories			16,857				13,586				26,581
Total			202,071				167,640				209,783
Percentage of inventories to total assets [Inventories / Total assets]			0.67	%			0.56	%			0.69	%
Inventory turnover [Cost of sales / { ( Beginning balance of inventories + Ending balance of inventories ) / 2}]			7.03				6.73				6.73

 

(2)

Reporting of Inventories

The Company holds handsets, ICT equipment for offline sales, etc. in inventory. The Company conducts physical due diligence of its inventories with external auditors at the end of each year.

 

D.	Fair Value Measurement

See Note 29 of the notes to the Company’s interim consolidated financial statements attached hereto for more information.

 

E.	Key Terms of Debt Securities

[SK Telecom]

The following are key terms and conditions of bonds issued by SK Telecom as of March 31, 2026. The compliance status is as of March 31, 2026, the date of the latest financial statements including the review or audit opinion of the independent auditor applicable to the determination of compliance status, except for the compliance status of the restriction on changes of ownership structure, which is as of the end of the reporting period.

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 62-3		Aug. 28, 2012		Aug. 28, 2032		90,000		Aug. 22, 2012		Meritz Securities Co., Ltd.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 100% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed Won 2 trillion
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		—
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

17

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 63-2		Apr. 23, 2013		Apr. 23, 2033		130,000		Apr. 17, 2013		Korea Securities Finance Corp.
Unsecured Bond – Series 66-3		Feb. 26, 2015		Feb. 26, 2030		50,000		Feb. 11, 2015		Korea Securities Finance Corp.
Unsecured Bond – Series 67-3		July 17, 2015		July 17, 2030		90,000		July 9, 2015		Korea Securities Finance Corp.
Unsecured Bond – Series 68-3		Nov. 30, 2015		Nov. 30, 2035		70,000		Nov. 18, 2015		Korea Securities Finance Corp.
Unsecured Bond – Series 69-4		Mar. 4, 2016		Mar. 4, 2036		80,000		Feb. 22, 2016		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 100% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed Won 2 trillion
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		—
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 70-3		June 3, 2016		June 3, 2026		120,000		May 24, 2016		Korea Securities Finance Corp.
Unsecured Bond – Series 70-4		June 3, 2016		June 3, 2031		50,000		May 24, 2016		Korea Securities Finance Corp.
Unsecured Bond – Series 71-3		Apr. 25, 2017		Apr. 25, 2027		100,000		Apr. 13, 2017		Korea Securities Finance Corp.
Unsecured Bond – Series 71-4		Apr. 25, 2017		Apr. 25, 2032		90,000		Apr. 13, 2017		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed Won 5 trillion
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		—
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

18

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 72-3		Nov. 10, 2017		Nov. 10, 2027		100,000		Oct. 31, 2017		Korea Securities Finance Corp.
Unsecured Bond – Series 73-3		Feb. 20, 2018		Feb. 20, 2028		200,000		Feb. 6. 2018		Korea Securities Finance Corp.
Unsecured Bond – Series 73-4		Feb. 20, 2018		Feb. 20, 2038		90,000		Feb. 6. 2018		Korea Securities Finance Corp.
Unsecured Bond – Series 74-3		Sept. 17, 2018		Sept. 17, 2038		50,000		Sept. 5, 2018		Korea Securities Finance Corp.
Unsecured Bond – Series 75-3		Mar. 6, 2019		Mar. 6, 2029		50,000		Feb. 21, 2019		Korea Securities Finance Corp.
Unsecured Bond – Series 75-4		Mar. 6, 2019		Mar. 6, 2039		50,000		Feb. 21, 2019		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 76-3		July 29, 2019		July 29, 2029		120,000		July 17, 2019		Korea Securities Finance Corp.
Unsecured Bond – Series 76-4		July 29, 2019		July 29, 2039		50,000		July 17, 2019		Korea Securities Finance Corp.
Unsecured Bond – Series 76-5		July 29, 2019		July 29, 2049		50,000		July 17, 2019		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 77-3		Oct. 22, 2019		Oct. 22, 2029		40,000		Oct. 10, 2019		Korea Securities Finance Corp.
Unsecured Bond – Series 77-4		Oct. 22, 2019		Oct. 22, 2039		60,000		Oct. 10, 2019		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

19

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 78-3		Jan. 14, 2020		Jan. 14, 2030		50,000		Dec. 31, 2019		Korea Securities Finance Corp.
Unsecured Bond – Series 78-4		Jan. 14, 2020		Jan. 14, 2040		70,000		Dec. 31, 2019		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 79-2		Oct. 19, 2020		Oct. 19, 2030		40,000		Oct. 6, 2020		Korea Securities Finance Corp.
Unsecured Bond – Series 79-3		Oct. 19, 2020		Oct. 19, 2040		110,000		Oct. 6, 2020		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 80-3		Jan. 15, 2021		Jan. 15, 2031		50,000		Jan. 5, 2021		Korea Securities Finance Corp.
Unsecured Bond – Series 80-4		Jan. 15, 2021		Jan. 15, 2041		100,000		Jan. 5, 2021		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

20

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 81-2		Oct. 28, 2021		Oct. 28, 2026		70,000		Oct. 18, 2021		Korea Securities Finance Corp.
Unsecured Bond – Series 81-3		Oct. 28, 2021		Oct. 28, 2041		40,000		Oct. 18, 2021		Korea Securities Finance Corp.
Unsecured Bond – Series 82-2		Apr. 12, 2022		Apr. 12, 2027		70,000		Mar. 31, 2022		Korea Securities Finance Corp.
Unsecured Bond – Series 82-3		Apr. 12, 2022		Apr. 12, 2042		40,000		Mar. 31, 2022		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 83-2		Aug. 10, 2022		Aug. 10, 2027		95,000		July 29, 2022		Korea Securities Finance Corp.
Unsecured Bond – Series 84-3		Dec. 14, 2022		Dec. 14, 2027		60,000		Dec. 2, 2022		Korea Securities Finance Corp.
Unsecured Bond – Series 84-4		Dec. 14, 2022		Dec. 14, 2032		40,000		Dec. 2, 2022		Korea Securities Finance Corp.

 

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of secured debt not to exceed 150% of share capital as of the end of the previous fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

 

Name		Issue Date		Maturity Date		Principal Amount (millions of Won)		Date of Fiscal Agency Agreement		Fiscal Agent
Unsecured Bond – Series 85-2		Feb. 17, 2023		Feb. 17, 2028		190,000		Feb. 7, 2023		Korea Securities Finance Corp.

 

21