SK Telecom to Create SK Horizon for AI Data Centers

SK Telecom announced in a press release that it will split its wholly owned subsidiary SK Broadband into a surviving company and a new AI data center infrastructure company called SK Horizon.

The company also signed a definitive agreement with funds managed by KKR and the IMM Investment-Stonebridge Consortium for a combined KRW 3.08 trillion equity investment in SK Horizon.

After all investment phases are complete, SK Telecom will hold 51 percent of SK Horizon. KKR will hold 29 percent, and the IMM Investment-Stonebridge Consortium will hold 20 percent.

SK Horizon will operate and expand eight data centers in Seocho, Ilsan, Bundang, Gasan, Centum, Yangju, and Pangyo, along with new AI data centers under construction in Ulsan and Guro. The company is planned to reach total capacity of 318 MW and pursue phased expansion of submarine cable infrastructure.

SK Telecom aims to complete the spinoff and establish SK Horizon in the first quarter of next year, subject to shareholder and government approvals. Kim Seong-soo, CEO of SK Broadband, is expected to also serve as CEO of SK Horizon after the new company is formed.