SK Telecom (SKT) has announced it will split its wholly owned subsidiary SK Broadband into a surviving company and a newly established company, SK Horizon. The surviving company will focus on innovation in its fixed-line, media and enterprise businesses, while the newly established company will aim to expand Korea’s artificial intelligence data center (AIDC) infrastructure.
In connection with the spin-off, SKT has entered into a definitive agreement with funds managed by KKR and the IMM Investment-Stonebridge consortium for a combined KRW 3.08 trillion ($2.2 billion) equity investment in SK Horizon.
“We are pleased to support SKT as it establishes SK Horizon and expands its AI data center infrastructure platform in Korea,” said Keith Kim, partner at KKR. “Korea’s advanced digital ecosystem and growing demand for AI capacity provide a strong foundation for SK Horizon’s next phase of growth.”
The IMM Investment-Stonebridge consortium comprises two So
