[Asia Economy Reporter Seulgina Jo] Park Jung-ho, CEO of SK Telecom, announced that this year, securing 10 million media customers will serve as a turning point to establish a competitive structure against Netflix. He also revealed that several outcomes of the previously proposed super-collaboration will be released within the year.
At SK Telecom's 36th Annual General Meeting held on the morning of the 26th at T Tower in Euljiro, Seoul, CEO Park stated, "Having 10 million media customers means we have gained the power to generate profits even when producing and circulating content independently," adding, "We will continuously expand profitability through content competitiveness and advertising business models."
The merged entity of T-Broad and SK Broadband, launching next month, has about 8 million paid broadcasting subscribers. Including approximately 2 million Wave subscribers, the total reaches the 10 million range. CEO Park emphasized, "We will create a structure capable of competing with Netflix," and added, "The goal is to build a healthy ecosystem." To this end, global partnerships will also continue.
Park, who took office in 2017, was reappointed as an inside director at the shareholders' meeting and has entered his second three-year term of management. Referring to the telecommunications portfolio diversification pursued over the past three years, he expressed his determination to make this year the first year of achieving tangible results by focusing on the two pillars of the leading telecommunications business and the New ICT business.
He said, "Several outcomes of super-collaboration will emerge this year," introducing that he has been in discussions with CEOs of Comcast, Kakao, Singtel, Deutsche Telekom, and others. He added, "The scope and depth are increasing beyond the usual level," and stated that the first super-collaboration results will be delivered in the gaming sector.
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