Thursday, February 14, 2008

[The Chosun Ilbo, February 1 2008] SK Telecom Full-Year Operating Income Falls 16%

SK Telecom on Thursday announced its full-year results for 2007. Korea's largest mobile operator posted sales of W11.286 trillion (US$1=W945) for the year, up 6 percent from 2006, and net income of W1.643 trillion, a rise of 13.5 percent. But operating income tumbled 16 percent to W2.172 trillion.

SK attributed the fall in operating income to increased marketing expenses to promote its 3G wireless code division multiple access (WCDMA) service, which was launched across the country last year. That led to full-year marketing costs of W2.854 trillion, up 31 percent from 2006. Net income grew on gains from converting convertible bonds of China Unicom into stocks.

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