South Korea’s largest wireless telecommunications operator SK Telecom Co. is targeting to expand their business operations and subscription-based services. In collaboration with multiple companies within various industries, SK Telecom is remodeling its mobile business unit. SK Telecom’s move to reconstruct their mobile operation is in line with the company’s goal to stay profitable within Korea’s buzzing mobile market.
Presently, SK Telecom is pursuing potential partners who can help put their subscription-based business plans in action. Some of the lifestyle-related products and services in SK Telecom’s subscription project include electronic devices, gaming consoles, food and beverages, as well as e-books and educational materials.
Through the addition of new subscription-based services, the company is aiming for the further expansion of its existing personalized platforms. On top of introducing new services, SKT will also equip new features to their existing platforms including the music streamer Flo, video platform Wavve, and video ringtone service V Coloring. SKT will also enhance their security system service Caps Home Door Guard, and the DNA testing app Care8 DNA. All of these apps charge users monthly subscriptions. Last year, SK Telecom offered users a new service with a free three-month subscription to products from cosmetics brand Tone28.
According to Yoon Jae-woong, head of SK Telecom’s subscription marketing team, the telecommunications company is actively looking for prospective partnerships. Particularly, SKT is looking for collaborations with startups and businesses with environmental, social, and governance (ESG) investments and standards.
Changes Within SK Telecom
Through analyzing the data from its 29.2 million users, SK Telecom is also arranging to release AI-backed personalized services. Aside from analyzing their users’ data usage patterns, the company is planning to release a monitoring platform service as well. The monitoring platform will enable users to keep track of the status of their subscriptions. It will allow users to cancel or subscribe to services with ease. Throughout SK Telecom’s centers in Korea, users can access products and services exclusive to subscriptions.
In response to the major changes in the mobile industry, SK Telecom will remodel its mobile network operation (MNO) division. The company will organize it into a marketing unit for their cloud, mobile, subscription, IoT, and other sectors. This February, SK Telecom filed to transform the company into an intermediate holding firm. This initiative is consistent with their expansion objectives from being a mobile carrier to an Information and Communications Technology firm.
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