SK Telecom Establishes SK Hyper for AI DC expansion

Research evidence excerpt

SK Telecom Establishes SK Hyper for AI DC expansion

Global Research

23 July 2026ab

First Read

EquitiesSK Telecom

Establishes SK Hyper for AI DC expansion Korea

Communications Technology

12-month rating Buy

SK Hyper established as dedicated platform for AI data center expansion

SK Telecom announced today the establishment of SK Hyper, a dedicated AI data center 12m price target Won115,000

(AI DC) development company, to accelerate execution of its previously announced AI

infrastructure roadmap. Under the Korean government's national AI infrastructure

Price (23 Jul 2026) Won99,500

strategy unveiled in June, SK Group plans to deploy 5GW of AI data center capacity from

2029, with a further ~10GW expansion from 2035 onward. SK Hyper will serve as the RIC: 017670.KS BBG: 017670 KS

primary development vehicle for this buildout, focusing on securing sites and power Trading data and key metrics

capacity, customer acquisition, and commercialization.

52-wk range Won125,200-52,100

Market cap. Won21,192b/US$14.5b

Won750bn committed to support Ulsan and future AI DC development

Shares o/s 213m (ORD)

To support execution, SKT has committed Won750bn through 2030 to SK Hyper,

Free float 62%

including an initial Won330bn investment for land acquisition and supporting

Avg. daily volume ('000) 1,430

infrastructure such as substations and transmission facilities. The company plans to

begin with Ulsan (~900MW) and subsequently expand discussions to the Chungcheong Avg. daily value (m) Won144,612.9

and Southwest regions. Given the capital-intensive nature of AI data center Common s/h equity (12/26E) Won13850b

development, management indicated that expansion will be phased based on customer P/BV (12/26E) 1.5x

demand, while external financing will also be considered.