SK Telecom cuts 2025 sales target over data breach costs
Pedestrians walks past an SK Telecom store in Seoul, June 24. Yonhap
By Yonhap
SK Telecom, Korea's largest wireless carrier, said Friday it has lowered its 2025 sales target to 17 trillion won ($12.5 billion) from the previously announced 17.8 trillion won, reflecting customer compensation plans following a data breach earlier this year.
The company also revised its operating profit outlook to a year-on-year decline from an earlier growth forecast, it said in a regulatory filing.
The adjustments reflect planned customer compensation packages worth 500 billion won in connection with the April breach that affected all 25 million users.
"The target figures may change depending on future business performance and management conditions," the company said.