"Reflecting the 500 Billion Won Customer Appreciation Package"
Yu Youngsang, CEO of SK Telecom, is bowing his head in apology at a press conference held on the 4th at SKT Tower in Jung-gu, Seoul, where the final investigation results related to the government's hacking incident were announced, and he presented the position and future plans regarding the hacking incident. Photo by Yonhap News
SK Telecom has revised its annual revenue forecast downward from 17.8 trillion won to 17 trillion won, reflecting customer compensation and subscriber churn resulting from the hacking incident.
On July 4, SK Telecom announced, "This revised forecast takes into account the implementation of a 500 billion won customer appreciation package related to this year's cyber breach, as well as market conditions," and added, "It may change depending on the company's future business situation and management environment."
Additionally, the company had previously forecast an increase in operating profit compared to the previous year, but has now revised this outlook to a decrease year-on-year.
On the same day, SKT announced customer compensation measures totaling over 1 trillion won and plans to strengthen information security in response to the hacking incident.
Yu Youngsang, CEO of SKT, held a press conference at the company's headquarters in Jung-gu, Seoul, and announced a 500 billion won "customer appreciation package," which includes a 50% discount on August bills and additional monthly data, as well as an information security innovation plan that will see a total investment of 700 billion won over the next five years.
In addition, SKT will exempt early termination fees for subscribers who had remaining contract terms as of midnight on April 18, the date of the breach, and who have canceled their subscriptions since the incident or plan to do so by July 14.
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