SK Telecom will develop a joint methodology with Japan's SoftBank and the Center for Social value Enhancement Studies (CSES) to measure the social value created by AI and ICT technologies.

SKT on Wednesday signed a memorandum of understanding with SoftBank and CSES at SKT Tower in Seoul's Euljiro area to measure social value and strengthen mutual cooperation. Attendees included Yasuyuki Genda (겐다 야스유키), head of corporate at SoftBank, Seok-kwon Na (나석권), CEO of CSES, and Jong-hwan Eom (엄종환), head of SKT's sustainability management office.

AI is creating new social value in various areas, including improving productivity, strengthening social safety nets, promoting digital inclusion and increasing customer convenience. At the same time, the need is growing for a methodology to objectively measure the social benefits companies create through AI technology.

Based on their accumulated capabilities in measuring social value, the three parties plan to jointly develop a standard methodology that measures the social value each company creates through AI and ICT products and services and can be used in global markets. They also agreed to cooperate on case studies, joint report publications and forums to spread social value measurement methodologies in global markets including South Korea and Japan.

The three parties previously signed their first agreement in April 2024 and cooperated through social value measurement workshops and case presentations. SoftBank in particular disclosed last year the results of measuring the social value it created and also compared and analysed them with SKT indicators.

Based on their results over the past 2 years, the three parties signed an additional agreement to advance their social value measurement model. They will specify indicators to measure the social value created by AI- and ICT-based services, drawing on each party's business experience, data and measurement know-how. They also plan to pursue development of a standard measurement system that can be used across various companies and industries.

CSES is a non-profit foundation established by SK Group to support activities that create social value. It developed SK Group's social value measurement framework, the Double Bottom Line (DBL). It also supports research and academic activities related to social value.

"We need a system to objectively measure and explain the social benefits created by AI and the challenges it must address," Eom said. "Through this agreement, we will push ahead with developing a standard methodology for measuring social value that fits the AI era," he said.