[Edaily Reporter Lee So-Hyun ] SKTelecom(017670)is establishing a company specializing in artificial intelligence data center (AIDC) infrastructure and is restructuring its business to position itself as an “Asian AI Infrastructure Hub.” It has spun off SK Broadband’s data center and submarine cable businesses to form a new entity, “SK Horizon,” and has secured investments in the 3 trillion won range from global and domestic financial investors (FIs).

SKTelecom announced on the 27th that it is proceeding with a plan to split SK Broadband, its wholly-owned subsidiary, into the surviving company SK Broadband and the newly established company SK Horizon through a spin-off.

In conjunction with this, SKTelecom has secured an investment of 3.08 trillion won for SK Horizon from a consortium comprising global investment firm KKR and IMM Investment and StoneBridge Capital.

The surviving entity, SK Broadband, will be responsible for innovating the fixed-line, media, and enterprise businesses, while the newly established company, SK Horizon, will handle the operation and expansion of AIDC infrastructure. The split ratio, based on the book value of net assets, is 0.8351323 for the surviving entity and 0.1648677 for the newly established company.

SK Horizon Expands AI DC Infrastructure to 318 MW

The name “SK Horizon” signifies “opening new horizons in the AIDC sector.” The newly established company will oversee the expansion of infrastructure totaling 318 MW, including the eight data centers already operated by SK Broadband—in Seocho, Ilsan (two locations), Bundang, Gasan, Centum, Yangju, and Pangyo—as well as new AIDCs currently under construction in Ulsan and Guro.

The company will also gradually expand the deployment of submarine cables necessary for global AI operations. SKTelecom plans to secure expertise in AIDC operations and a rapid decision-making system through SK Horizon, and to expand into various AI infrastructure businesses in the future.

Kim Seong-soo, CEO of SK Broadband, is expected to serve as the CEO of the newly established SK Horizon. Once the spin-off process is finalized, the appointment will be confirmed by the board of directors of the new entity.

KKR and IMM to Invest 3.08 Trillion Won in the New Company

Another key pillar of this business restructuring is attracting large-scale external investment. SKTelecom announced that a consortium comprising KKR and IMM has signed a definitive agreement to invest in SK Horizon. The transaction is valued at approximately 3.08 trillion won.

Once the phased investment is complete, the KKR and IMM consortium will hold 29% and 20% stakes in SK Horizon, respectively. SKTelecom will retain management control as the largest shareholder with a 51% stake.

The investment funds will be used for future investments, including the further expansion of SK Horizon’s AIDC and the development of AIDC infrastructure.

KKR is a global infrastructure investment firm managing over $100 billion in infrastructure assets. IMM Investment manages over $7.5 billion across the venture capital, growth capital, and infrastructure sectors. StoneBridge Capital is a South Korean private equity firm that has invested in leading companies in growth industries and currently manages approximately $2.5 billion in assets.

Kim Yang-han, Head of KKR Infrastructure for Northeast Asia, stated, “SK Horizon possesses a stable operating platform, a robust pipeline of new projects, and strong strategic partners,” adding, “We expect the growing demand for Korea’s digital ecosystem and AI capacity to serve as a solid foundation for SK Horizon’s future growth.”

Kim Byung-heon, Head of the Infrastructure Division at IMM Investment, remarked, “AIDC and submarine cables are core infrastructure that will determine Korea’s digital sovereignty and industrial competitiveness in the future,” adding, “We will invest in SK Horizon based on long-term capital from leading domestic institutional investors to build a sustainable growth structure.”

SKT, SK Horizon, and SK Hyper Form an ‘AI Infrastructure Fleet’

Through this governance reorganization, SKTelecom has completed its AIDC implementation framework alongside SK Horizon and SK Hyper, which was established last July.

SKTelecom will oversee the Group’s overall AIDC business, set business strategies and direction, and collaborate with global Big Tech companies. SK Horizon will be responsible for expanding existing core AIDC infrastructure and submarine cables, leveraging its expertise and capabilities in data center operations.

SK Hyper will focus on developing new AIDC businesses. Through SK Hyper, SKTelecom plans to pursue a phased rollout of 5 GW by 2029 and an expansion to 15 GW by 2035.

The surviving company, SK Broadband, will strengthen the competitiveness of its fixed-line, media, and enterprise businesses through innovation in AX-based products and services. At the same time, it plans to accelerate future growth by identifying new business models.

This spin-off will proceed through relevant procedures, such as government approvals and an extraordinary general meeting of shareholders, with the goal of completing the final separation and establishing the new company in the first quarter of next year.

Kim Seong-soo, CEO of SK Broadband, stated, “This governance reorganization is a proactive measure to secure expertise and rapid execution capabilities in the AI data center business,” adding, “We will continuously scale up SK Horizon as an AI data center infrastructure company and grow it into the nation’s leading data center operator.”