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2w ago

SK Telecom Faces Mounting Fallout From Data Breach as Investigations Continue

The South Korean telecom giant warns of up to ₩7 trillion in losses and resists calls to waive early termination fees after a cyberattack exposed data of 23 million users.

SK Telecom Co. Chief Executive Officer (CEO) Ryu Young-sang (C) speaks during a parliamentary session at the National Assembly in Seoul on May 8, 2025. (Yonhap)
Minister of Science and ICT Yoo Sang-im speaks during a media briefing in Seoul on May 9, 2025. (Yonhap)
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Overview

  • A cyberattack in April compromised personal and USIM data of 23 million SK Telecom subscribers, marking the company's most severe security breach to date.
  • SK Telecom has replaced over one million USIM cards and suspended new sign-ups indefinitely to focus on customer protection and remediation efforts.
  • CEO Ryu Young-sang testified that the company could face up to ₩7 trillion in losses over three years if pressured to waive early termination fees for affected customers.
  • Over 250,000 subscribers have already switched to rival carriers, with projections suggesting up to 2.5 million could leave if fees are waived.
  • A joint government-civilian panel is investigating the breach and plans to release findings by the end of June, potentially influencing regulatory and legal actions against SK Telecom.