The telecom operator said that it will conduct a spin-off to form the holding company, which will oversee operations of its non-mobile affiliates and subsidiaries, such as memory chip giant SK hynix Inc., e-commerce firm 11Street Co and ride-hailing company T Map Mobility Co, among others.
The new holding company will also focus on investments in semiconductor-related companies.
While SK hynix has made active investments in the past, such as acquiring Intel‘s NAND memory business in October last year for $9 billion, its parent SK Group wants to tighten its grip on the chipmaker and help it aggressively expand investments.
The remaining entity will focus on the mobile carrier’s traditional telecom business and expand to new sectors, such as artificial intelligence and data centers.
The mobile carrier said it will make a decision on the details of the spinoff within the first half of this year.
The telecom operator’s spinoff plan had been widely expected after CEO Park Jung-ho said in a shareholders meeting last month that the company would overhaul its governance structure amid a slump in its share price in recent years.
SK Telecom’s share price had been in stalemate at the end of 2020 from the previous year…