SEOUL– SK Telecom Co., South Korea’s largest mobile carrier, said Wednesday it will create a new holding company for its non-mobile subsidiaries to boost shareholder value and accelerate growth in its businesses.
The telecom operator said in a regulatory filing that it will conduct a spinoff to form the holding company, which will oversee operations of its tech affiliates and subsidiaries, such as memory chip giant SK hynix Inc., e-commerce firm 11Street Co. and ride-hailing company T Map Mobility Co., among others.
The remaining entity will focus on the mobile carrier’s traditional telecom business and expand to new sectors, such as artificial intelligence and data centers.
The mobile carrier said it will make a decision on the details of the spinoff within the first half of this year.
Source: Yonhap News Agency