SK Telecom on March 26 held its 42nd annual shareholders meeting at its T Tower headquarters in Euljiro, Seoul. It approved agenda items including approval of its 2025 financial statements, partial changes to its articles of incorporation and the appointment of 6 directors, including reappointments.

SKT's 2025 consolidated financial statements were approved with annual revenue of 17.0992 trillion won and operating profit of 1.0732 trillion won. The dividend was set at 1,660 won per share.

At the meeting, SKT approved a proposal to reduce capital reserves to enable “tax-free dividends” it is pursuing to improve shareholder returns.

The company will convert 1.7 trillion won of capital reserves into retained earnings and use it as a source of dividend payments. Because taxes are not levied on dividend income, shareholders see an effective increase in dividends.

The funds can be used, after approval by the board, as early as the 2026 year-end dividend after the 2026 financial statements are finalised. It also changed some articles of incorporation in line with revisions to the Commercial Act. Newly reflected items include procedures for holding a concurrent “electronic shareholders meeting”, which becomes mandatory from next year for listed companies with assets of 2 trillion won or more, and changing the title of outside director to “independent director” (effective July 23, 2026).

Jae-heon Jung (정재헌), who took office as CEO in October last year, was elected as an inside director at the shareholders meeting. He was then appointed as representative director at a board meeting held immediately afterward.

The shareholders meeting approved proposals to appoint 5 new directors, including Jung. Myung-jin Han (한명진), head of the MNO CIC, was named an inside director, and Poong-young Yoon (윤풍영), president in charge at the SK Supex Council, was listed as an other non-executive director.

Han will strengthen overall competitiveness across the MNO (telecom business) B2C and B2B businesses and networks. He will also identify AX tasks and drive MNO innovation by consolidating relevant functions and capabilities. Yoon plans to add expertise related to SKT’s key businesses including telecommunications and AI.

SKT appointed Sung-yup Lee (이성엽), a professor at Korea University’s Graduate School of Management of Technology, and Tae-seob Lim (임태섭), a professor at Sungkyunkwan University’s GSB, as new outside directors. The two outside directors will also serve as members of the audit committee and plan to contribute to strengthening board oversight and audit committee expertise.

SKT said it will hold and dispose of 196,475 shares for employee compensation among its treasury shares, which total 1,797,787 shares, equivalent to 0.84 percent of total issued shares. The remainder will be cancelled later through a board resolution.