SKT spins off platform unit

SK Telecom, the country’s top mobile carrier, announced Tuesday it would split its platform division and create a new platform subsidiary, which will be in charge of non-mobile businesses, as early as October.

“The company has made the decision to build a new subsidiary to form business operation structures and business cultures that are a good fit to the two separate telecom and platform sectors,” said SKT officials. “We will strengthen competitiveness of mobile network operating and platform projects to make more aggressive moves in the wireless Internet era.”

The company will hold a board meeting and a general stakeholders’ meeting ahead of designating an exact date for the split, its officials said.

In an in-house broadcast, the company’s chief executive Ha Sung-min said the newly-established corporate body, headed by the firm’s platform business president Seo Jin-woo, would be responsible for new projects such as open platform businesses.

The local telecom giant had been headed by two presidents Ha and Seo since their processor Chung Man-won was repositioned early this year.

Ha told employees that the new subsidiary would not reshuffle its current staff. The platform division is currently divided into three parts ― open platform, new business and marketing.

The move is geared towards developing differentiated technologies and releasing innovative services in the market by concentrating on the company’s currently available platforms, which include commerce, media, advertisement and location-based services, according to SKT officials.

“The platform subsidiary would immediately respond to the customers’ requests and the market trend by making fast decisions, taking the lead in providing revolutionary service,” said SKT officials.

Apart from the issue, SKT said it was not considering a merger with SK Broadband and also not planning to establish a telecom holding company as of now.

By Cho Ji-hyun (sharon@heraldcorp.com)