Q3 2022 SK Telecom Co Ltd Earnings Call
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Good morning, and good evening first of all thank you all for joining this conference call and now we will begin the conference of the physical year 2022 third quarter unused Rachel's by SK Telecom. This conference will start with a presentation followed by a divisional Q&A session if.
If you have a question. Please press star one that is star and one on your phone during the Q&A.
Now we shall comment the presentation on the physical year 2022 third quarter earnings ratios by SK Telecom.
And then once you become SK telecom IL Dum-dum, Tony Jamie the.
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Good afternoon, I am Jeong Chung <unk> of SK Telecom. Thank you for joining SK Telecom's earnings conference call.
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We are providing consecutive interpretation for the call, which will consist of a presentation on Q3 earnings highlights future business plans and strategic directions as well as the Q&A session.
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The call is attended by our executives from relevant business divisions, including <unk>, CFO and head of corporate planning of SK Telecom.
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Before we begin I would like to remind you that all forward looking statements are subject to change depending on market situations.
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Let me now present our CFO .
North America SK Telecom share book in General give me that.
Good afternoon. This is Jim <unk> CFO of SK Telecom.
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SK telecom celebrated the first anniversary of the spin off on November 1st with the launch of SK <unk> 2.0, we redefined our business into five business groups to ensure that each business group within the telecom business could enjoy fair recognition of its value in the market, even though the circumstances surrounding ARPA.
And it's continued to be challenging we have produced meaningful results in the telecom based new businesses on the back of stable fixed and mobile business performance.
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While the past strategy of SK telecom was activity expansion into new business areas SK telecoms growth story for the next decade can be summed up as AI transformation.
Customer engagement is key in this new era, and AI has the potential to transform every industry.
Against this backdrop, we have been focusing on building AI capabilities over the past years going forward, we aim to deliver better earnings with business model innovation through AI transformation, thereby enhancing our corporate value.
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The exits of 11, SK telecom managed high better than a year.
The company would be generous person like me to.
SK telecom will achieve a new vision of becoming a differentiated AI company to this end, we will transform our core businesses into it.
The next is to secure new growth drivers offer AI services to deepen customer relations and employ a strategy.
Spread at SKU, telecoms, AI and digital transformation capabilities to other industries.
Linda.
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Now let me report on the consolidated financial results of the third quarter of 2022.
Metro one <unk> timna.
Thank you David.
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Consolidated revenue reported for Chilean $343 4 billion, one three points year prevent or year over year, and one 2% Q on Q.
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Operating income posted $465 6 billion won up 18, 5% year on year on the back of continuous market stabilization. It also grew one 3% you aren't you mainly thanks to revenue growth supported by growing five G subscribers and <unk>.
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Net income recorded $245 6 billion $1 66, 7% year over year, and four 9% Q on Q with a recognition of disposal losses of Honda accord.
Current equity.
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On a non consolidated basis revenue grew three 1% year over year and your appointing 1% you aren't you could post three trillion $122 6 billion, one operating income and net income recorded $388 7 billion, one and $305 1 billion one respectively.
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Hello again.
David Matson did a good summary.
Have you reported on the financial highlights of Q3 2022, let me now move on to major achievements and strategic direction.
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Have been ranked number one international customer satisfaction index and the Korea Standard service quality index would be ranked first again and the Korean customer satisfaction index in October , thereby achieving Grand Slam in all three major customer satisfaction surveys in the mobile communications sector for 23 consecutive years.
Thanks to strong customer support the number of <unk> subscribers reached 12, four 7 million at the end of Q3, well on course to reach the annual target of $13 million.
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The pay TV subscribers of SK broadband reached 925 million as at the end of Q3 content sales have seen a recovery trend. Thanks to the solid growth of the pay TV subscriber base and new film releases on the back of transition to the under Nick We expect that this growth trend will continue.
Could be supported by diverse content offerings.
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Also team studio or OLED wall based media content protect production studio that opened in June .
Expanding the media ecosystem based on hyper collaboration by creating a consortium with major virtual production companies in Korea.
SK Telecom will lead the media content production paradigm by utilizing teams do deal to discern gene studio will build intellectual property VFX and XR related platforms, which will lead the future of digital content industry on top of SK Telecom's ICP infrastructure, such as <unk> AI and cloud.
Technologies.
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Moving onto our data center business, which received much attention in the market recently growth of revenue and utilization rate is on track for <unk> and <unk> data centers.
Operations to open additional data centers in areas, such as fulfilling metropolitan area in Pusan are well underway as we continue to manage the internal and external circumstances well.
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Yes.
As the cloud market is going through restructuring centered on hyper scaler, we're focusing on MSP business, which can expand quickly with scale through hyper collaboration with global CSP as well as edge cloud business that provides comprehensive packages that include NFC infrastructure and various solutions.
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Once there is an open beta version a growing AI service named a Doc is improving its service quality through constant enhancement you know what.
To transform <unk> into a daily digital made for customers, we are making continuous efforts, including the development of a daily service package that combines a wide range of everyday services.
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Celebrating the first anniversary in August T Universe has become a leading subscription service in Korea with more than $1 4 million and then you by offering diverse services and benefits in connection with customers lifestyles, including online and offline shopping food and beverages and digital services.
Going forward T universe aims to evolve as a subscription commerce platform by expanding product lineup and partnerships and enhancing customer convenience.
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<unk> reported $12 eight 6 million cumulative downloads at the end of two or three it introduced a client point program to build a foundation for an economic system and opened its lens studio where users can create avatar costumes to further expand the scope of production two lens and items interview.
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Going forward transactions using excellent points will be enabled as well more.
Moreover, in September SK Telecom signed an Mou with E N UA he's number one giant telecom companies, which marks the beginning of global expansion that is planned with the goal of launching <unk> services in 48 countries by the end of this year.
Media mobility service actually mean, UAE and connectivity intelligence problem.
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Connected intelligence business, including U a N an integral part of future mobility is a business that SK telecom is pursuing with a sense of responsibility for the future of society and humanity. We believe that <unk> will be a game changer that offers innovative services to customers growth upside to investors and convene.
Mobility services for Society.
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That's great Telecom will accelerate transformation into AI company through active cooperation with an investment in technology companies as indicators of equity investment in core non technology to secure core AI technologies and talent.
The process, we will do our best to achieve financial performance improvement and new business growth in order to maximize corporate value and shareholder value.
And then just theater elements of up to <unk> question about someone who I'm.
I'm sorry, yes.
We ask for your continued support and encouragement. Thank you.
Okay.
Tal Q&A session, there still called the Republic of Sudan.
We will now begin the Q&A session.
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Now Q&A session will begin please press star one <unk> and one if you have any questions questions will be taken according to the order. Your question number one for cancellation. Please press star Q that is <unk> on your phone.
Tom I'll, let you have in that disease burden will go into EMEA toxic <unk>.
The first question will be provided by <unk> Park from Morgan Stanley . Please go ahead with your question.
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Good morning, Bill Hey.
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I am <unk> from Morgan Stanley . Thank you for taking my questions I have two questions. The first question is related to the outlook for the fourth quarter. As you can see in the third quarter ended cumulative operating earnings has grown by 17% or 18% for the stand alone and consolidated.
Basis. So he has shown a very good growth trend I wonder if there are maybe other one off factors that may.
Change the growth trend in the fourth quarter.
And I expect that there will be some one off expenses that we'll incur in the fourth quarter as well if so what would be the size of the one off expenses to be recognized in the fourth quarter of course, when we get some idea about the fourth quarter outlook will be able to see an overall outlook for the entire ear. So if you could provide us with some color on the full year earnings outlook.
The second question is regarding your roaming revenue, we mentioned that there has been some roaming revenue increase on a consultant on a standalone basis for your wireless and then hope isn't it. So what is the overall trends for your roaming revenue and compared to the pre COVID-19 numbers, how much has been recovered and how.
More recovery are you expecting.
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Thank you for your questions I would first like to address your question on the fourth quarter, I'll look and annual outlook.
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I'm sure. Many of you who are participating in this conference call are aware well aware of our earnings trend.
Trend on a quarter by quarter basis.
That's what excited us about them in both.
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Jim Janine how long do you think you can get anything anything you'd add.
When it comes to the revenue trend I believe that this trend for revenue side from the first quarter all the way through the third quarter will continue into the fourth quarter, but when it comes to the expenses of our costs. There are some structural factors that will lead to more expenses recognized in the fourth quarter compared to the first quarter Vicki <unk> universe.
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Such expense categories include outsourced services general fees, and commissions advertising and promotion costs rents and other maintenance costs and each will be recognized in the fourth quarter as has been indicated for the past years.
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I would also like to remind you that in the fourth quarter of last year. There was one off labor expense recognition due to stock option until you're out and this year. We expect that there will be some impact coming from the rising inflation in the cost of living but on year over year basis, We believe that the bottom line will improve as expected.
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While we did did not provide guidance on the operating income in the beginning of this year, our revenue growth trend and the cost management trends have all been on track. So we believe that our internal guidance and target for the operating income is going to be achieved.
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Moving forward, we expect that places, including the electricity price will continue to rise as a result of Friday inflammation. Therefore, we will continue to make efforts to increase our expense efficiency and cost efficiency. So that there will be minimal impact from such price increases on our earnings.
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Your next question was about our roaming revenue as you can see roaming it's a business model that has been affected the hardest by the COVID-19 pandemic because roaming revenue depends on the people who are traveling overseas.
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In 2021, the annual roaming revenue was only 15% of what we had in 2019.
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With me today.
And this year there have been many lifting of COVID-19 related restrictions and such as the change in many advanced countries. Therefore, there is an increasing trend for our business travelers and tourists. So we have seen a turnaround in our roaming revenue trend as well I'll tell you I was humbled to lead me to learn from beautiful.
So that's ongoing.
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Thanks to this turnaround trend in the third quarter. Our roaming revenue has achieved a three fold increase on a year over year basis and this is the highest roaming revenue since the first quarter of 2020, when the Covid situation worsened, we'd have been strengthening the power price plan, which isn't it.
Exclusive roaming price, Brian at Ford overseas travelers, and we have been executing our various marketing activities, including our promotions and I believe that these activities have resulted in the recovery and the roaming revenue.
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Kevin how good do you think.
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While overseas travel has not recovered to the level of pre Covid era, we have seen a change in the patterns of roaming usage that'd be clause compared to the past we have seen an increase in the number of people who are using the roaming services by 50%. So this has led to an increase in the roaming revenue which is.
Quite different from the past patterns as we expect that there will be full opening of overseas travel. We will continue to improve the customer experience is we're using roaming services. So that we can expand our roaming customer base and increase our revenue.
Thank you.
Time will tell.
Please go ahead.
The following question will be presented by <unk> Lee from your best investment into these things.
Go ahead with your question.
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Thank you Jason.
Nick Holmes of Warner by someone else you shouldn't become hall.
John Guinee here.
Chee Meng.
I am eager to move from E Best investment in Securities. I also have two questions. The first question is that I like to understand the background behind your decision to make equity investments and Kona on technology am I understand that you're trying to make this transition to an AI company and I believe that.
Such investment will bring about more cooperation and synergetic effect. So what are you expecting from this partnership. The second question is related to your U a N business and there was some news upgrades in October and September regarding your U a N initiative and I'd like to know the current status and you mentioned that you are aiming to commercialize the UAE.
Service in 2025, and we still have a couple of years before that so what is your overall medium and long term roadmap. Thank you.
Yeah.
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Right.
Thank you for your questions I would first like to address your question related to our investment in content technology and next Mr. Jaime <unk> head of corporate development, who is working on a building of a consortium with Dolby and other partners for UAE business will address your second question.
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As we announced on October 27th we acquired 28% of equity stake in a corner technology, which is a specialized AI company in Korea, and we also have formed a strategic partnership that includes AI technology cooperation.
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In order to achieve our AI company transformation, we have been carrying out various and promoting various AI businesses, including a dot AI audio and picks processing and vision AI and we have been working to sophisticate our capabilities in order to have the successful transformation, we need to have the likes it.
Of skill sets as well as AI technologies. So to this end, we have been building our own internal capabilities and hiring experts from the outside however, it has not been easy to acquire good pool of professionals, who are specialized in AI and relevant technologies and given its challenge we determine that.
Investing in Qunar technology, who has a proprietary technology and a long history of business will be able to add important contribution to our AI asset.
So that's another thing.
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Hey.
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And so you're going to come down by a multitude of olefins.
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Colin on Technology was published in 1999 and based on the core AI technologies they'd have been recognized for excellence text and video AI technologies and more than half of their personnel. Our R&D professionals. Therefore, we determined that having on this the equity owner.
Sheets, which is about 20%. We believe this is a significant minority shareholding of Cornell technology is going to be beneficial for us in terms of the sort of synergy and a human resources exchanges and that is why we decided to go ahead with this investment.
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Linda.
Yeah.
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Okay.
We expect that this investment is going to contribute to strengthening our AI core technologies and capabilities and right. After this deal was closed the two companies started that joined synergy task force team and we're going to carry out joined AI projects based on AI professional entel.
Exchanges and we will continue to build on specific AI synergy plans based on our own technologies and experiences. So that we can promote AI T. C. D. G. A I N a I say that contractor and digital twin businesses.
So you'll get delayed until you come to look at everything in terms of some buckets.
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Yes.
Here with US we have Mr term funds Hawk head of corporate strategy office, he's going to give you more details about our AI strategy.
Yeah.
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Hello, I am children's health head of corporate strategy Office, then they give you some more details about our AI strategy.
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We don't guarantee a computer player.
Generally we see that.
As.
As for our vision of S. K T 2.0, we have this vision of becoming an AI company that then if its customers with technology and services.
You can hang out it'll come.
Until we know what's in them.
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Could you speak a little.
None of them go through cycles.
In order to achieve this vision that we have set forth with three strategies. The first one is that we are going to redefine our core existing businesses, such as fixed and mobile and media and enterprise centered around AI and we're going to innovate business models from the perspective of customers.
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To be specific we would like to make sure that S. K T customers are able to search for our services and products and go all the way to a subscribing for such services and using them. So that the entire process. She could provided seamlessly on the online platform to do that we're going to reform and revise.
Our entire processes and applying AI in this process.
What's your opinion on them.
So he doesn't need somebody that he does not huge who you're friends with them.
Yeah, sure well get screwed so doing Michael.
Anita.
Our second strategy is to apply technology and content to AI based services that we have already launched including eight Dot T universe and your friend in order to transform our customer relations.
Either food did you you probably could you talk a little bit slow to change a little puzzled I'll go through them.
Uh huh.
For instance, a dog is focused on developing and introducing to their services to induce more customer usage.
No.
Oh yeah.
Hum.
Cool.
I'm done.
We would also like to use T universe, which will have its own platform to curate the right subscription products for our customers using AI.
Considering the moon.
So it will come on until he or she go through on how it goes.
Cool.
A punch Hubert talked about sort of who you're.
Are you going to kill you alluded to some local some of them.
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The third strategy is called AI X. It means that we will identify industries, where they need AI application or a particular transformation, we're going to identify companies that we can invest and we will apply our AI and digital transformation capabilities expand all such capabilities to other industries.
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Hum contributor women with small community shield.
Sure.
Ooh opinion, two ends up and go.
So you just keep together in one seamless sometimes doesn't flip we do you don't work.
So that's what we're focused on doing that.
Sudan.
For instance, in the manufacturing sector robot and did you have a I can get applied to increase manufacturing productivity, our productivity and also we can applying AI technologies, such as Excalibur, which isn't which is a video diagnosis solution offered by SK telecom to upgrade services.
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Yeah, I'm going to go on the deal you don't really know.
Oh cool for mutual funds hope to get to you always hope to Sunrun Fukuda, who will do well.
Okay.
Did you incur.
In order to have successful transformation into a company, we need to secure of course technologies and capabilities. So in this regard Google continued to invest in AI start ups and forged strategic cooperation with these companies.
Sounds like mortgage route so I'll talk to you Don.
Well the total or you just you know it comes up.
So against this backdrop I hope that you will understand that our investment in content and technology is one. Good instance, where we have made this investment to secure AI capability.
So I'll touch a little tell you touch one he doesn't seem to hold them again.
Okay.
So in short our AI strategy does not involve starting new businesses.
It also includes Hema.
Until post breach.
Talk to departmental from JP.
If you smooth it out.
I'm going to disappoint you.
But neither we will like to innovate our business models using AI, which include our core businesses, such as fixed and mobile in enterprise.
Yeah.
Good schools huddle room until you get to point to a group of chemo rules some of them go to look for.
Hum.
And sometimes we lose because oh.
And secondly, we are going to apply AI to our various services. So that we can deepen customer relations and finally, we would like to employ a strategy to secure new growth drivers.
Thank you.
Tom on your EMS Hudson umbrella.
Don could you or Tim Donaghy, it'll do whether they are talking about something against me at all.
So he was on them.
Queen cuts, yeah, intelligent silicon connected intelligent sort of escape T.
Would that help when they promised you guys aren't going to be doing though.
Unions hauled one don't believe it will do every muscle each of them usually warn your neck limited tools hung onto the honeymoon suitable for all convenient even though.
Let me now address your question related to the UAS business status and overall strategic direction in the medium and long term roadmap, we aim to add intelligence to our intrinsic core business value of connection. Therefore, we have included connected intelligence as part of the five business groups under S. K P. Two point.
Oh are we are planning to commercialize the U a N. So that spurred first time in Korea in 2025 in accordance with the government's roadmap.
It can be I don't know that I'm talking about something against me, though.
I'm Gonna nickel Lowball number one you said it was how you doing.
Toby Aviation, where you, perhaps I'm not sure how long she's been hungry Guangzhou uncle footprint young one I'm going to keep on the penalties.
Is that anybody can really someone's gonna to Ohio Man, Oh Man I wanted somebody who really cool.
Are you a lender to Lindsay you can get hardware tell me on meal have young kids will do you want someone to Uh Huh Jung will kind of always for me though.
Let me discuss how we are preparing for the UAE business first of all we are working with to commercialize the UA M service in Korea by forging a partnership with Dolby in aviation, which is globally number one aircraft manufacturer as.
As well as establishing a consortium with many stakeholders, including how about system. Our Korea Airport Corporation to Korea Transportation Research Institute and Korea Meteorological industry Technology Institute and we have also been participating in the first stage of T. A UAE and granted challenge in order to advance our technologies and busy.
His capabilities.
I don't have them currently telling you should think of generic doing them for Nam guangxi. Okay. How many of your tongue children get hung up with.
Neil.
And I'm.
Sure.
Hung up with you off so I'm trying to do there and she runs hobbled around.
Take care of Hudson at all.
For instance in August this year, we completed the construction of the five G. Aerospace network for all of those who are participating in the Grand Challenge demonstration project that is taking place and cold hung in Shandong Province also in September as well as in October we have signed an Mou with schedule special.
Governing province, as well as take or Metropolitan City, respectively. In order to pursue corporation for U a N pilot projects.
I don't know how you can get into court.
Are you able.
Paul I'm going to knock wood Chileans, all I can give you a part of it I'm, saying I've seen them. So they get triggered an accounting is really cool.
Well, it's younger and younger.
So we sent them alone will relate to the public.
So we don't know what you can watch it even though you sort of blew up with smeal.
Hung out with you to talk to you in three parts and then to be like a partnership to consumers.
How do you want to know how it works with all without me, though.
Moving on to our competitive strength of the first of all has the world renowned telecommunications technology. So that we can play a key role in establishing and building specialized air aerospace on that worked for you I am services and we are also capable of providing connection between U a N and ground transportation.
Our patient and we have technology that can offer that's routes based on mobility data analysis, and we have a partnership with Dolby aviation. So that we can introduce U a N aircrafts when needed. So based on these competitive advantages we're going to pursue this UA emphasis.
Are you ready to do.
Top quality people and probably really all zalviso input all.
I.
I don't think of it as though it's going to be I'm I'm done. Thank you always for me I'll handle to a three without doing I guess I'll, even walk consortium patrimonial twitchy playoffs, Halloween keep I mean, how are we to me though.
In addition, we are making all the necessary preparations in terms of services infrastructure and business capabilities. So that these demonstration projects and pilot project can be carried out successfully and we're also building a foundation for UAE business by strengthening our capabilities.
With our various stakeholders, including semiconductor companies battery companies and investment our partners and we are going to continue to utilize all the capabilities available from the consortium partners.
So you could even go up my goodness I know, obviously you want when you move them along job what you've put through in younger kids on wireless services.
They will know that Honeywell sort of total on demand I think has hung in watch when even at all I'm comfortable with what we see though.
When it comes to the monetization business model of U a N. The basic idea is to share on.
The service fees paid by customers with you I am operators for the port operators and traffic control service providers and other participants.
Ever.
Uhm has not been commercialized yet so we are working on and devising various options for this business model.
So each one of these people and their name hung onto it how long do you have some junket I'm talking about some pretty good some of them he turned.
You should come down and our grandchildren 10 gig tissue can mean, when she didn't really do any rule you should kind of Oh, and I'm going to tell them that you don't get pushing you should think that you're going to be later.
When you go.
Keep on at all.
She won't she wont still be sort of chicago's hanging around and listen I'm, a poodle computer always for me, though.
Let me now give you some are medium to long term road map for the UAE business in 'twenty 'twenty three the first stage granted challenge will be done in terms of demonstration project in the open ground and the second stage Grand Challenge will take place in the urban area in 2024 and our goal.
It's to a launch of a pilot commercial at U E M service in 2025.
You don't even though.
Thank you.
China Little Chairman, that's the chip and then you'd add that didn't go naked chicken meeting back then.
The following question will be presented by Kim from me that's actually Kennedy. Please go ahead with your question.
No no to really be able to what comes on and Oh, There's about 200, and then you've got the more fungible.
Could play on their phone so when they choose to do.
So cool.
You're welcome.
Okay.
I'm not sure if they're going to get hung up on pizza hut.
Yeah, how much was a little Kid publicly just wanted to I was going to have trouble.
Could it be two months I don't know all the policies put under doesn't go away. So I'm going to turn down so it doesn't become as I'm going to get some government. She said, Oh globals and choose the ones on the medicine.
Global trade out similar to what I'm talking to longhorn surely crude and then I guess just to the Cowen and company.
Okay talk to me.
Yeah.
Hello. Thank you for taking my questions I have two questions. The first question is related to your subscription business I can see that there was a major updates of services for T universe and as a result, there's been an increasing trend of T universe subscribers I wonder how much of a puppet.
Or raising their contribution that's coming from a T universe and what is your overall plan for his service and other updates. The second question is related to your meta versus platform called excellent I can see that there has been unstable and increase in the number of users of the trend and you mentioned that you are planning for global expansion. So what is your own.
Our outlook for if land and how much of our earnings contribution are you expecting from your friends.
Yeah.
Studying under terrible rebuild krishnan quit talking about sitting underneath him.
June comes into play for them and give them the money you put into this algorithm.
Young things have come down.
I'm quite happy with that.
Sometimes they're a little kudo focal you printed in.
Isn't it.
Here with US we have Mr. Yoon Jae alongside of subscription service marketing office, who was in charge of the subscription service and Mr. Young men's health head of meta versus company was dealing with it trying to fitness, so theyre going to answer your questions in a conservative manner.
Yeah.
I know some folks to do.
So it makes them through the Rosenberg booked solid room, you should have union somebody get cut.
Jim do you have touched on all of them for apartments, which is a little unions for timber which means you go.
Oh, My God, the Jimmy or 'twenty, two I'm, a woman money comes out because of the economy.
Well, let me comment on your question related to your subscription business or a subscription business has reached 400 billion one of G. M. B in the third quarter of 2022, showing a substantial improvement in its performance and we expect that the subscription business G. M D will reach.
About 560 billion one by the end of this year.
Hum from Boogie murdering whenever I'm sure you don't have to do moving up pretty fast.
In terms of Ultrashape and <unk> functions over to James.
Queensland to kick things off you should think of it.
So as you pull your phone somehow in school you didn't I'm trying to be as Hush puppies home rule three months, there's been a lot. If you didn't mention was removed from that.
I thought the end of the third quarter on a monthly user basis T. Universe has about $1 4 million users and this growth trend is the fastest of all the non telecom services that we've launched in the past in particular it is noteworthy to mention that about 70% of the.
Users are in their twenty's, all the way to the forties and more than eight years of more than 48% of the subscriptions are has been gone through online channels, which you chose that this T universe services are appealing to the younger generation that are able to utilize online services.
Certainly in Puget popped up you should get into mothers told them don't forget them.
So I'm gonna be modern and efficient New Bureau brief I'm sorry go ahead.
And when it comes to the number of partners for T universe. It used to be 36 in the second quarter, but we have 74 already.
Tricia you talked to it was Hong Kong, where the peer group.
Jordan, We do Pisolite group should go down or would you prefer slim could you eat up recruiting younger and go to market that's for sure.
You don't seem to be younger and youre going to use good players onto them fundamental questions.
Since its launch T universe has been expanding its product line up and customer benefits I'll be launched a universal life in June and Universe Universe Flynn and July and we also are starting to offer annual subscription and a function of sharing in September .
So a number of users for these new products products and services have reached more than 200000, receiving good response from the market.
Hey, Randall.
It'll come from Tomorrow.
I will personally own kudos from Columbia, Montreal give me a sense from Virginia.
You guys haven't done Cutsinger worked went towards home for coupons on a computer or we can do.
Furthermore, within this year, we're going to launch them subscription products, our gifting services and delivery type of subscription products and by continuing to in times, such huge user value, we expect to achieve a bigger growth.
Switching to somebody who's doing yeah, and you keep doing what I'm talking to the Houston market and some personal forgetting about terrorism.
Now moving onto the profitability of T universe, I'd like to mention that each product Union is designed with a plus margin.
Yeah people to go do something that Ive moving to a new group unit vehicle pick up they're going to put them.
And so those vehicles are coming on for Joe.
How often are people young people pumping kids and young blowhole local drilling quickly and put out a coupon at all.
Offline channels and then they put a honeymoon for popcorn and some come with to collect a little marketing has been warning before we put up your own which as long as well up to more like temporary okay I agree.
Are you doing.
So T universe subscription products offer much more benefits than what the customers have to pay and this cell structure has been made possible and has been possible because we have the existing no high level in terms of production and subscription product planning and operation and the building and close them or not.
Instrument infrastructure and we have also been able to utilize a massive amount of customer data that we have accumulated through online and offline channels and we have been using these customer data to actively promote and market partners products and as a result, we were able to minimize our own investment while bringing out the best Thompson.
Conditions of contracts with partners.
I'm on something and you don't want them to come.
I'm going to your market two months I'm excited about bringing it presents an inconvenience blue collar Oh.
I took a pause a little bit giving me a minute from a treat through some of them done.
However, the profit generated from the universe has been reinvested to improve our marketing and service development to an extent.
Extend the subscription base. So that we can have more competitive subscription services. However, going forward starting from next year I believe that this will bring about more earnings contribution.
I'll give you a little news Jim Good returns from those are the two children in season and a bunch of Bull period, giving me. That's all you can eat I'm going to make with total abandon Puget got home from students to be something illegal you have some young button in opening comments with political and told them not to kind of a country.
Yeah, we can.
In the medium to long term that we wish to continue to generate profit from the T universe subscription services by generating a trillion of.
One of G M D and for that between 2020, two and 'twenty 'twenty three we wish to achieve a twofold growth and progress of T universe of customers and the number of products and by the end of 2023, we wish to transform the T universe into an open type subscription commerce platform.
You're talking about I'm talking about thank you.
Yeah, No no no no.
So the children.
That makes it even at the industrials hub, how long you do sometimes somebody gets firmed up.
Hello, I'm Young men talk ahead of meta versus company, let me first comment on the current status.
You put a dimension on quota Republicans can pick it up on the huggies, yeah, I'm, taking them all so it would be so they took it on the Highland.
I am gelli both hunger.
Postal voting at home then you tend to point until the Blue polo, the polo Silicon doesn't take it would be on top of them took out almost taking advantage of cool about talk wholesome because of your comment on the deal. So among the other young old you don't know until you pay a terminator, particularly when there is a young so beautiful.
Because I mentioned it has come down.
So in that in September we introduced a major service update to strengthen the matter of our ecosystem reintroduce. The explained quite program that is used for use a reward and host sponsorship. This is a beginning of and the introduction of meta versus equal better as economic ecosystem.
We also launched the studio where users can create their own avatar costumes, and we have introduced a lounge phone Shen for first time visitors and all of these functions that are part of this major update has enhanced the user participation and increase service extensibility.
Yeah.
Content on.
Create or Theyre going to go up here what are you buying in a music show did you close them, yet or do you get out into the jungle chosen hangul tortured him cause them closer to the Toyota Union Archie.
Does what don't I shouldn't and theaters they want them, so you're putting their content to a central you don't do something stupid.
We also have been continuing to expand the content ecosystem of it fund by collaborating with various content companies and creators we're offering a singing room in music show in musical and other original content on a regular basis and we also offer opportunities for our fans to communicate with all of them fail.
This artist through ultra immersive virtual concert format.
You're a little below two years.
So you put into noncore mother tongue Andrew.
Andrew just home the pseudo in Chicago, just taking some time synergies you always find them.
Thanks to these constant improvement. So we reached 12 million of cumulative users by the end of September and continuing our growth trend.
Yeah.
So to me I'm up there once it's in logo.
So the publicly the congestion to emerge looked a little boy upon them.
Just a little boy you pay another kick them, though.
So our priority now is to expand the subscriber base and we will continue to expand economic system on the matter of us.
Yeah, Tom on global reach into it because it is in most of them did it gives them to let.
Let me now discuss your question related to the global expansion of matters.
It doesn't sound like 2 million tons or I guess, how should public will get you put into it or Tricia I just didn't know globally. So they said to go into a bunch of them, but I don't know I'm content to them.
Uh huh.
Keep that and go Oh joked a pill punching until they're about to me at AGA.
You're always going to say, you're trying to get people I never thought of it hopefully another kinder.
SK Telecom will launch expand services in 48 countries within November and to this end, we have been developing various contents and other relevant functions and we've been closely collaborating with major telecom companies in these regions. So that we can secure it spend customer base in these.
Yes.
Global churches hits them in Euro.
And there are several novel that on people to those guys pushing about call it one of them.
So as I kind of look and say, okay, genuity isn't enough for them to pop the global largest selling them opened Peter marketing.
Global user that could go into law titled gifts with almost no for sure no public so we don't publish them though.
At the time of the global launch, we will add more languages to support services and we're also going to implement a major a service updates that will allow the creation of various avatars and different skin colors, and hairstyles and fashion and we're going to utilize our K pop in other globally popular IP or intellectual.
For property for our marketing activities. So that we can create a social not averse, where global users can communicate with one another beyond national borders.
Global services switching Julian.
Oh, I should probably google's own Hershey Park able to told you, but I don't even look at a different model.
Have you been to dilute chips young people or something that would give you though.
After the global service launch out of the 48 countries. So we will see which countries are showing the most response to this expand services and we're going to execute some events in these markets for limb girdle got killed her age from their partner.
The people, who and JP will give call so basically a year, though and it all depends on too many of them will close for my team.
When do you target condenser, Guangdong, Zhejiang marketing been appointed Cindy She's younger group did I get those dialogues will emerge I wanted isn't even though.
Secondly, we're going to utilize the knowledge and understanding of the local customers and services that our partner companies possess and so we're going to pursue some customization if eastland functioned and promote content co production and marketing to target the local customers and these are going to help offer them more.
A differentiated experiences for the local customers in these markets.
Jim felt like some of them are usually at all quota and auto immunity to young group.
Mojo brother took it all the way you're talking about on a Monday. So that's also sort of wondering when you put it in their own way of cool yeah, Yeah feel heavy attention. So they'll go though which is looking at both in Japan, and what are you doing some stuff I'm bummed out.
One. Good example of our cooperation with a major global Telecom company is that in September SK Telecom signed an Mou with E N group, which is a leading telecom company in the UAE and we operate at the met averse goes together at the Dubai information technology. It fair to promote if land services. Furthermore.
We are now under discussions of specific partnerships with other major global telecom companies.
Okay.
Sure.
It's even funded shimbun disease duration verification guy though.
Hum.
The chrome grew humbling German cards, you talked about through August .
Okay.
Could you put in Egypt.
The following question will be presented by Neil Anderson from HSBC. Please go ahead with your question.
Thank you very much good afternoon.
One question please.
Capital one country.
It's cool as demonstrated you're investing in a very likely true projects in there.
Good for return timeline, presumably ethylene Penske so could you help us think.
How you think about that at group level.
And particularly if you have any.
Balance sheet parameters will return parameters as you can see that we're making these investments.
Thank you.
I mean, I actually got H S. P. T M D. Anderson, he made that Tim and I have got two months did little kind of estimate I shouldn't say SK Telecom Italia.
I'll touch on how quick or started to turn Appalachian day, how she has put us in Harbin Oh, you don't promote my God or cause out of as far as soon as he turns it harder because you go in and they don't need to fill up your attitude towards how to question I was kind of you can do that cause I'll eat on Tyler I want to talk on a days what's your name.
Telecom tongue tied up with a whole bunch of metallurgical unless you.
Keith or they don't do it you get well push it I would think about how much I'll just set up such that you can go on with that.
The trigger I shouldn't they tend to come in and do it with me and then ill continue to Oklahoma.
So you've got to figure out when the dizziness and everything journey.
So it could be maybe deal with them.
An enterprise data.
Central Central.
Consolidated.
They would tell you on the telephone voting, saying.
And when I always hate them.
Often in the market, there's a recognition that SK telecom is up and then a business or a telco, but when you take a look at our business portfolio. We not only have the M. N O, but also b to B media enterprise and other new businesses, including AI first.
Yes, they were.
Hopefully that gives them a colgate she told me a year ago. She brings home from school.
Oh.
Sure.
Refund you don't totally kind of don't you didn't.
California has said to me though.
Yeah.
Unfortunately, this is how we get there when they have to talk to you don't get you don't get you don't you call them.
You know what.
What are the children, possibly.
We're talking about.
Because we have these diverse businesses their customer profiles and their markets are quite different and the level of maturity for these businesses is also a quite different therefore naturally we have different expectations in terms of capital return and the performance of these businesses for instance, a diverse is it.
New business and it isn't the beginning stage and we're focusing on securing a critical mass for our business and we're working on how to monetize from this business.
So you do have to say you're going to cut on consuming minerals hobby.
Minutes holiday since I got them all.
So you are talking probably I'm doing wrong.
You don't want to go.
Okay.
Because I don't know John if you don't have any of them.
It's happening every song.
So just hold on.
It doesn't sound like you're going to pay with points.
Total comparable to new level, something like you're going to have and make sure you keep wondering if how you ended up.
Of course, our most competitive advantage is our metal business and so we have cricket data network infrastructure and the platform and we're going to utilize these net.
Work competitiveness and platform to create synergies by expanding into the relevant business areas. Therefore in making a capital investment and other investments for these businesses. We will continue to keep in mind, our investment efficiency and growth growth contribution.
And until you got them on board they must have been somewhat starting to put out really weird Hoffman took it all because then I'll come to Luke.
There was some kind of quick testing on the system into the business to keep you from doing.
The global market.
They're gonna do you need some young until you're able to get on course, Angela and onto look what I'm gonna many kind of I'll get two months today, some sort or doing some guy when you're younger you couldn't Daniel.
Video and our enterprise AI ecosystem.
Okay.
Just how are you in London doing again until you go together.
Yeah.
Therefore, after the spin off of SK Telecom, we redefined our business into five business groups and we have been working to establish the most optimal systems for each of these businesses and these are part of our S. E. T. Two point old paradigm of course, there maybe they need different strategy than that.
Apologies, we can apply to achieve our vision, but when it comes to the investment we will focus on identifying investment areas that have the most growth potential, namely media enterprise in AI first because these are all relevant to our core businesses.
Well you don't good because I'm, taking up the pilots in the Haynesville. So you go to the mall.
101, 201, because I'm going to kick him talk quite particularly I wonder if she's not able to listen in.
So I talked to him.
Good morning.
You're doing very well with them.
If you don't do them.
Gotcha Gotcha.
Could you go into the country with the chemicals around India.
It's also to put it on its own but she's doing interested about I've seen them with others.
Yeah.
So under this overall direction, we're going to put priority on business areas that have direct relevance to our core businesses, where we can create synergies and we're going to seek to have investments in a reasonable manner by looking at various factors of course, our ultimate goal is to enhance corporate value and we're going to consider or.
Financial situation and available resources, so that we can make investments that can be welcomed by the market.
Thank you.
Got it okay.
Sure.
Yeah, well you talked a little you told me sitting on somebody's got to be identical per scooter.
I was just down there.
Some are just never going to catch some of them come to us.
This concludes the earnings conference call for the third quarter of 2022 of SK Telecom. Thank you.
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