Ryu Young-sang Becomes New CEO of SK Telecom

SK Telecom (NYSE: SKM, hereinafter referred to as "SKT") today held a Board of Directors Meeting at its headquarters and announced that Ryu Young-sang, who was previously the President of MNO Business, has been appointed as its new CEO to open the next chapter for the company.

Since joining SKT in 2000, CEO Ryu Young-sang has been developing new future growth drivers for SKT and SK C&C. He also built a career as an M&A expert, taking an integral part in the acquisition of SK Hynix in 2012 to expand the business portfolio of the SK Group.

From 2019, Ryu served as the President of SKT's MNO Business. He solidified the company's position as the leading fixed and wireless telecommunications company in Korea based on differentiated AI and 5G technologies, and steered the company towards new and innovative business areas including sub_scription and metaverse service.

Upon his inauguration, CEO Ryu will hold a town hall meeting to announce SKT's new vision and ambitions.

Under the leadership of the new CEO, SKT will evolve into an "AI & Digital Infrastructure Service Company" that provides greater customer value based on its stable fixed and wireless telecommunication infrastructure coupled with new growth drivers like AI, while contributing to the advancement of the whole society.

"As we open a new chapter in our corporate history, we will strengthen our market leadership by offering customer-centered technologies and services, and make redoubled efforts to become a socially responsible company admired by customers."