[Edaily Reporter Yun Junghoon ]SKTelecom(017670)has secured a site for its Ulsan Artificial Intelligence Data Center (AIDC) and has begun negotiating specific lease terms with three to four global Big Tech companies and major operators. The plan is to secure initial operational capacity by the first half of next year at the latest and then gradually open the data center starting in the second half of 2029.

Park Jong-seok, Chief Financial Officer (CFO) of SKTelecom, stated during the Q3 2026 earnings call held on the 4th, “SK Hyper, the affiliate dedicated to the AIDC, has obtained a building permit for a portion of the capacity in Ulsan since its establishment in July and is currently negotiating business terms with three to four global operators,” adding “We are also concurrently pursuing business development—including securing sites and attracting customers—at multiple candidate locations outside of Ulsan,” he added.

Large-Scale AIDC Construction Through External Funding… ‘Business Viability and Customer Demand’ Are Key

Considering the nature of AIDC projects, which require massive capital investment, SKT plans to actively utilize external investment and project financing (PF).

CFO Park explained, “AIDC is a business that requires large-scale investment, and securing stable demand through long-term contracts with customers serves as a crucial foundation for external financing,” adding, “While proceeding with contract negotiations with customers, we are reviewing various financing options, including attracting strategic and financial investors and project financing (PF).”

Regarding recent interest rate volatility, he also expressed confidence that securing competitive customer demand and business viability would ensure no difficulties in attracting external funding. He projected that once AIDC operations are fully underway, data center revenue will begin to rise very rapidly.

SK Hyper vs. SK Horizon… “Two-Track Operation Tailored to Business Characteristics”

SKT also clarified the division of roles and operational strategies for its AIDC subsidiaries, SK Hyper and SK Horizon.

CFO Park said, “We determined that it was appropriate to maintain our stake in SK Horizon—which is responsible for the AIDC business centered on the Seoul metropolitan area, the construction of the 100-megawatt (MW) facility in Ulsan, and the expansion of the submarine cable business—to ensure business stability, as its existing commercial contracts and financing structure are already largely in place.”

He added, “On the other hand, since SK Hyper still faces the tasks of securing future commercial contracts, raising large-scale investment funds, and completing business development procedures, we decided to establish a separate operational framework that allows for flexible responses.”

Pushing Ahead with

‘Token Gateway’ Based on 23 Million Subscribers… Also Exploring Opportunities in Sovereign AI

SKT will fully accelerate its AI monetization structure by combining its base of 23 million mobile subscribers with enterprise (B2B) AI infrastructure, networks, and full-stack capabilities.

In particular, the company plans to establish a direct revenue model based on AI usage through its “Token Gateway” business. Furthermore, it anticipates growth opportunities in the “Sovereign AI” sector—where security and data sovereignty are critical—such as in the public and defense sectors.

Meanwhile, SKT announced today that its third-quarter consolidated operating profit reached 552.3 billion won, a 1,040.3% increase compared to the same period last year. Revenue for the same period rose 13.1% to 4.4973 trillion won, and the company successfully returned to profitability with a net income of 411.8 billion won.