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
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF NOVEMBER 2024
Commission File Number: 333-04906
SK Telecom Co., Ltd.
(Translation of registrant’s name into English)
65, Euljiro, 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 ☐
Decision on Acquisition of Shares
On November 13, 2024, in order to enhance management efficiency and strengthen its control over SK Broadband Co., Ltd. (“SKB”), the board of directors of SK Telecom Co., Ltd. (the “Company”) approved the Company’s proposed acquisition of certain shares of SKB. Details of these proposed transactions are as follows:
Acquisition of Shares of SKB
| 1. Details of SKB | Company Name | SK Broadband Co., Ltd. | ||||||
| Country of Incorporation | Republic of Korea | Representative | Jin-hyo Park | |||||
| Share Capital (Won) | 2,010,227,225,000 | Relationship to the Company | Subsidiary | |||||
| Total Number of Shares Issued and Outstanding | 402,045,445 | Principal Business | Media and Fixed-line telecommunications services | |||||
| 2. Details of Acquisition | Number of the Shares to be Acquired | 99,543,344 | ||||||
| Aggregate Acquisition Value (Won) | 1,145,870,382,038 | |||||||
| The Company’s Total Shareholders’ Equity (Won) | 12,228,398,961,110 | |||||||
| Ratio of Aggregate Acquisition Value to the Company’s Total Shareholders’ Equity as of December 31, 2023 (%) | 9.37 | |||||||
| Large-scale Corporation | Applicable | |||||||
| 3. Number of Shares to be Held by the Company and Shareholding Ratio after Acquisition | Number of Shares to be Held | 398,595,779 | ||||||
| Shareholding Ratio (%) | 99.14 | |||||||
| 4. Method of Acquisition | Cash | |||||||
| 5. Purpose of Acquisition | To enhance management efficiency and strengthen its control over SKB | |||||||
| 6. Scheduled Acquisition Date | May 14, 2025 | |||||||
| 7. The Company’s Total Assets (Won) as of December 31, 2023 | 30,119,228,260,464 | |||||||
|
- Ratio of Aggregate Acquisition Value to the Company’s Total Assets (%) |
3.80 | |||||||
| 8. Date of Resolution by the Board of Directors | November 13, 2024 | |||||||
|
- Attendance of Outside Directors |
Present: 5; Absent: 0 | |||||||
| 9. Put Options or Other Agreements | None | |||||||
| 10. Other Important Matters Relating to Investment Decision |
- The share capital of SKB set forth in Item 1 above is on a consolidated basis as of December 31, 2023.
- The Company’s total shareholders’ equity set forth in Item 2 above is on a consolidated basis as of December 31, 2023.
- The scheduled acquisition date set forth in Item 6 refers to the closing date specified in the share purchase agreement. - The above matters and timetable may change subject to the implementation status of, or discussion among the parties to, the share purchase agreement. In case of any changes, the Company will make appropriate amendment filings. - The table below sets forth the summary consolidated financial information of SKB as of and for the years ended December 31, 2023, 2022 and 2021. | |||||||
Summary Consolidated Financial Information of SKB (Unit: Won)
|
As of and 31, |
Total Assets | Total Liabilities |
Total Shareholders’ Equity |
Share Capital | Revenue | Profit | Audit Opinion | Auditor | ||||||||||||||||||||
| 2023 |
6,473,408,196,266 | 3,360,165,886,101 | 3,113,242,310,165 | 2,010,227,225,000 | 4,274,747,059,194 | 202,890,402,212 | Unqualified | Ernst & Young Han Young | ||||||||||||||||||||
| 2022 |
6,293,931,971,157 | 3,173,453,394,398 | 3,120,478,576,759 | 2,010,227,225,000 | 4,155,821,660,917 | 217,302,685,450 | Unqualified | Ernst & Young Han Young | ||||||||||||||||||||
| 2021 |
5,997,839,959,724 | 3,130,157,315,181 | 2,867,682,644,543 | 2,007,266,110,000 | 4,049,155,677,549 | 198,268,214,780 | Unqualified | KPMG Samjong Accounting Corp. | ||||||||||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SK TELECOM CO., LTD. | ||
| (Registrant) | ||
| By: | /s/ Hee Jun Chung | |
| (Signature) | ||
| Name: | Hee Jun Chung | |
| Title: | Vice President | |
Date: November 13, 2024