SK Telecom Co., Ltd. (SKT) forecasts a 59 trillion won valuation for 5 GW of data center capacity

[Financial News] On the 12th, NH Investment & Securities forecast that the 5 GW of data center capacity SKT plans to secure by 2029 will be worth 59 trillion won. It also expects the AI (artificial intelligence) Factory developed in partnership with NVIDIA Corporation to be commercialized in 2028. To that end, it expects updates soon on progress related to the data centers, including construction sites and customer acquisition. NH Investment & Securities maintained its “Buy” rating on SKT and its target price of 125,000 won.
Ahn Jae-min, an analyst at NH Investment & Securities, said, “SKT CEO Jung Jae-heon announced ‘SKT Growth Gear’ at a town hall meeting on the 8th. The plan is to secure growth engines by organically connecting telecommunications, AI infrastructure and AI services, powered by AI technology and AX (AI transformation),” and assessed, “As the world shifts into the AI era, growth is difficult in an environment where simply providing wired and wireless networks is not enough. SKT is doing the best job of preparing for the future through large-scale investment and partnerships.”
Ahn said, “SKT is working to find a new growth driver in the large-scale AI data center business built around SK Horizon and SK Hyper,” adding, “It will restructure its stagnant wireless business with a focus on protecting profitability, and expects to secure a leading position in the rapidly growing data center market.”

[email protected] Kang Gu-gwi Reporter