September 2013

Investor Presentation

This material contains forward-looking statements with respect to the financial condition, results of operations and business of

SK Telecom and its subsidiaries (the “Company”) and plans and objectives of the management of the Company. Statements

that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking

statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may

cause the actual results or performance of the Company to be materially different from any future results or performance

expressed or implied by such forward-looking statements.

The Company does not make any representation or warranty, expressed or implied, as to the accuracy or completeness of the

information contained in this management presentation, and nothing contained herein is, or shall be relied upon as, a promise

or representation, whether as to the past or the future. Such forward-looking statements were based on current plans,

estimates and projections of the Company and the political and economic environment in which the Company will operate in

the future, and therefore you should not place undue reliance on them.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update

publicly any of them in light of new information or future events. Additional information concerning these and other risk

factors are contained in the Company’s latest annual report on Form 20-F and in the Company’s other filings with the U.S.

Securities and Exchange Commission (SEC).

Disclaimer

Table of Contents

3

8

12

15

[ Key Takeaways ]

Launched World’s First LTE-Advanced Network

Acquired 1.8GHz Spectrum for broadband LTE service

B2B Business

Healthcare Business

SK Planet’s Corporate Restructuring and Expansion

[ Operating Results ]

ARPU

Subscriber Numbers

SKT & SKP’s Operating Revenue

Marketing Expenses & Capex

[ Financial Results ]

Income Statement

Operating Expenses

Balance Sheet

[ Shareholder Return ]

3

Launched World’s First LTE-Advanced Network: 26 June 2013

Key Takeaways

Launched the world’s first publicly available

LTE-Advanced network on 26 June 2013

Plans to expand its LTE-Advanced device

lineup to a total of seven smartphones in the

second half of 2013.

Samsung Galaxy S4 LTE-A, LG G2 and Pantech

VEGA LTE-A are already available.

Commercialized LTE-Advanced in the entire

Seoul area and central cities of Gyeonggi-do

and Chungcheong-do, and expanded LTE-

Advanced coverage to 84 cities nationwide

Expects LTE-Advanced to boost the popularity

of ultra high quality broadcasting/video

contents and services

LTE Speed Doubled Up

Fiber (Fixed)

LTE-A 30~40%

LTE 40~50%

550

280

- 200 400 600

Aug-13

Jul-13

(Unit: ‘000)

*Aug-13

CDMA/WCDMA 20%

LTE-A

Technology

Breakdown of

New & Upgrade

Subs*

Number of

LTE-A Subs

4

Acquired 1.8GHz Spectrum for broadband LTE service

Key Takeaways

Network Bandwidth

Frequency Range

Uplink Downlink Total

LTE 10MHz 10MHz 20MHz 800MHz

15MHz 20MHz 35MHz 1.8GHz

WCDMA 30MHz 30MHz 60MHz 2.1GHz

CDMA 5MHz 5MHz 10MHz 800MHz

WiBro(WiMAX)** - - 27MHz 2.3GHz

2.6GHz

1.8GHz

LGU+

40MHz

2520 2540

2640 2660

KT

15MHz

SKT

35MHz

1715 1735 1745

1810 1830 1840

Licensing period: 8 years Payment: 25% in the first year, 75% divided for the last 7 years

Expand LTE spectrum from 20MHz to 30MHz* for

additional 450 billion Korean Won

*Downlink spectrum only

SKT is the only operator which provides both

broadband LTE and LTE-Advanced service for the

95% of the total population(84 cities) in this year

LTE Spectrum

Auction

Result

SKT’s

Spectrum

Holdings

**Time Division Duplex

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

'12 '13E '15E

Other B2B Solution

5

B2B Business

Key Takeaways

(Unit: KRW tn)

Smart Store and Smart

Work will be the key

areas for 2013

⇒ Continue to expand

success stories to the

other areas

1.5

0.3(19%)

1.8

0.5 (29%)

3.0

1.5 (50%)

Smart Store

- Integrated sales, promotion, client management solutions and POS devices

- Contracts with franchise shops such as “Cheers”

(restaurant) & “Golfzon”(indoor screen golf)

Smart Work

- Industry-specific customized solutions as well as installment of ICT infrastructure to enhance productivity, efficiency and security

- Install mobile security account mgmt. solution

(“Hana Daetoo Securities), traffic accident

remote alarm solution (“Dongbu Insurance”)

Green & Safety

- Solutions to increase energy efficiency and safety of manufacturing facilities and commercial buildings

- Concluded 10 BEMS(Building Energy

Management System) contracts such as Hyundai

Dept. and Sempio factory

SmartStore

M-Ad &Payment

SmartWork

Green &Safety

5 CoreSolution

SmartCloud

5 Core

Solution

Area

B2B Revenue

6

Healthcare business

Key Takeaways

[Healthcare Joint Venture]

[Service Structure]

Established a joint venture with SNUH(Seoul

National University Hospital), which is the best

hospital in the country

Developing new level of healthcare services,

which enables people to be served anytime and

anywhere using ICT technology

Wellness service “Health-on” is a personalized

program based on the each person’s medical

checkup result.

Everyday exercise and dietary data will be

collected using ICT device and application

(Target

7

Key Takeaways

Merged with SK M&C to strengthen its mobile

business.

SK M&C had Korea’s largest loyalty points program and

several mobile businesses such as car navigation services

and gift coupons

Dogus Planet, a joint venture company

established by SK Planet and Turkey’s Dogus

Group debuted online marketplace

n11.com(numara onbir) on March 26

Sold a majority stake in Loen Entertainment to

Affinity Equity Partners. SK Planet will retain a

15% interest in the business

Loen Entertainment is the leader in Korean digital music

platform market.

SK Planet’s Corporate Restructuring & Expansion

Merger

with SK M&C

e-Marketplace

in Turkey

Loen

Entertainment

JV 50% 50%

68% 15% 53%

32.2

32.9 33.1

33.8 33.7 34.0

31.0

33.0

'12.1Q '12.2Q '12.3Q '12.4Q '13.1Q '13.2Q

8

ARPU

Operating Results

2Q13 billing ARPU increased 3.3% YoY and

1.0% QoQ, as the growth of LTE subscribers

outpaced the dampening effect resulting from

the adoption of unlimited voice price plans

LTE ARPU recorded KRW 47,300 in 2Q13,

39% higher compared to the blended ARPU

(KRW ‘000)

Billing ARPU

ARPU

Comparison

for 2Q13

(KRW ‘000)

YoY ↑3.3%

47.3 41.3 34.0

10.0

30.0

50.0

LTE Smartphone Billing ARPU (Blended)

15% 39%

ARPU1) (KRW) 2Q13 2Q12 YoY 1Q13 QoQ

Total ARPU 41,892 39,938 1,955 4.9% 40,450 1,443 3.6%

Billing ARPU2) 34,012 32,923 1,089 3.3% 33,668 344 1.0%

1) Includes SK Planet's earnings / based on SKT subscribers only

2) The billing ARPU excludes sign-up fee from mobile service revenues

14.8 11.6 9.8 6.9 5.0 4.4

8.2 12.7 15.9 19.0 14.5

11.7

0.6 7.5 11.0

'08 '09 '10 '11 '12 '13.1H

4G LTE

3G WCDMA

2G CDMA

23.0

9

Subscriber Numbers

Operating Results

The churn rate dropped to 2.27% in 2Q13 as a

result of the Company’s focus on retention-

oriented marketing. The churn rate has remained

at or below 2.4% for three consecutive quarters,

the first time since 2006

The number of LTE subscribers exceeded 11m in

2Q13 and continues to show steady growth.

Over 40% of SKT’s subscribers are on the LTE

service

2Q13 2Q12 YoY 1Q13 QoQ

Subscribers('000) 27,140 26,659 481 1.8% 27,030 110 0.4%

Net adds 110 103 7 7.1% 68 42 60.8%

Activations 1,954 2,023 (69) -3.4% 2,013 (59) -2.9%

Deactivations 1,844 1,921 (76) -4.0% 1,945 (101) -5.2%

Monthly churn rate 2.3% 2.4% -0.1%p 2.4% -0.1%p

Smartphone Subs('000) 17,296 13,788 3,508 25.4% 16,647 649 3.9%

LTE Subscribers('000) 11,020 3,344 7,677 229.6% 9,334 1,686 18.1%

(m)

Subscriber

by Network

24.3 25.7 26.6 27.0

0.5 3.9

11.1

16.0 17.3

1.9% 15.2% 41.7%

59.3% 63.7%

0.0%

50.0%

100.0%

150.0%

200.0%

0.0 3.0 6.0 9.0

12.0 15.0 18.0

'09 '10 '11 '12 '13.1H

Smartphone

% of Total Subs

27.1

Smartphone

Subscribers

(m)

[Monthly Churn Rate Trend]

Year Churn

Rate(%)

’06 2.0

’07 2.6

’08 2.7

’09 2.7

’10 2.7

‘11 2.7

’12 2.6

’13(1H) 2.3

Quarter Churn

Rate(%)

’12.1Q 2.5

’12.2Q 2.4

’12.3Q 2.9

’12.4Q 2.4

’13.1Q 2.4

’13.2Q 2.3

2,621 2,666 2,689 2,782 2,727 2,787

254 264 252 166 210 217 132

138 157 211 175 205

'12.1Q '12.2Q '12.3Q '12.4Q '13.1Q '13.2Q

New Biz & Others

Interconnection

Mobile Service

10

SKT and SKP’s Operating Revenues (Non-consolidated)

Operating Results

2Q13 SK Telecom’s stand-alone revenue

increased 4.6% YoY and 3.1% QoQ, led by the

increased mobile service revenues from the

growth of LTE subscribers and the increased sales

from new businesses including B2B solutions

- Interconnection: Decreased 17.9% YoY resulting from

the adoption of lower interconnection rates

- New business & others: Increased 48.1% YoY and

17.3% QoQ on strong sales of B2B businesses. Sales

contribution from the segment continues to show

steady growth; 6.4% as of 2Q13

2Q13 SK Planet’s stand-alone revenue increased

33.8% YoY and 13.3% QoQ, led by the merger

with SK M&C and increased sales from e-

commerce business

3,007 3,069 3,097 3,159 3,112

3,209

(KRW bn) 2Q13 2Q12 YoY 1Q13 QoQ

SK Telecom’s revenue 3,209 3,069 140 4.6% 3,112 97 3.1%

Mobile service 2,787 2,666 121 4.5% 2,727 60 2.2%

Interconnection 217 264 (47) -17.9% 210 7 3.2%

New business & others1) 205 138 67 48.1% 175 30 17.3%

SK Planet’s revenue 335 250 85 33.8% 295 40 13.3%

1) Includes sales from leased line, fixed-line resale, solution and other businesses

(KRW bn)

SKT’s

Revenue

243 250 267 275 295 335

-

100.0

200.0

300.0

400.0

'12.1Q '12.2Q '12.3Q '12.4Q '13.1Q '13.2Q

SKP’s

Revenue

(KRW bn)

11

Marketing Expenses & Capex (Non-consolidated)

Marketing expenses fell 11.2% YoY and 5.9%

QoQ due to decreased acquisition costs resulted

from the Company’s efforts to ease the market

competition and focus on subscriber retention

Capex decreased for two consecutive quarters as

Capex demand reduced following the roll out of

the nationwide LTE coverage in 2012

Operating Results

725

960 1,035

754 907 853

24.1% 31.3% 33.4%

23.9% 29.1% 26.6%

0.0%

50.0%

100.0%

150.0%

200.0%

- 100 200 300 400 500 600 700 800 900

1,000 1,100

'12.1Q '12.2Q '12.3Q '12.4Q '13.1Q '13.2Q

Marketing

Expenses

% of Revenue

424 555

708 867

322 223

58 61

80

105

29 71

'12.1Q '12.2Q '12.3Q '12.4Q '13.1Q '13.2Q

Non-Network

Network

482 616

788

972

351

Marketing

Expenses

Capex

(KRW bn)

(KRW bn)

294

(KRW bn) 2Q13 2Q12 YoY 1Q13 QoQ

Marketing expenses1) 853 960 (108) -11.2% 907 (54) -5.9%

% of revenues 26.6% 31.3% -4.7%p 29.1% -2.6%p

Capital expenditure 293 616 (322) -52.3% 351 (57) -16.3%

% of revenues 9.1% 20.1% -10.9%p 11.3% -2.1%p

1) Marketing expenses = marketing related commission + advertising expense

12

Summary of Income Statement (Consolidated)

Financial Results

Operating revenues: Recorded 3.9% YoY and

1.3% QoQ increases, led by the growth of LTE

subscribers and new businesses including B2B

solutions

Operating income: Increased 33.2% YoY and

34.8% QoQ as marketing expenses decreased, a

result of the Company’s ongoing efforts to focus

on service-oriented marketing vs. subsidy-

oriented cost-marketing

Consolidated net income: Increased 35.2% QoQ

as positive earnings from SK Hynix contributed

KRW 197bn to pre-tax profits

(KRW bn) 2Q13 2Q12 YoY 1Q13 QoQ

Operating revenue 4,164 4,008 156 3.9% 4,113 52 1.3%

Operating expenses 3,611 3,592 18 0.5% 3,702 (91) -2.5%

Operating income 553 416 138 33.2% 411 143 34.8%

Operating margin 13.3% 10.4% 2.9%p 10.0% 3.3%p

Net profit or loss from non-operating items

47 (105) 152 145.0% 17 30 173.5%

Income from continuing operations before tax

601 310 290 93.5% 428 173 40.4%

Consolidated net income 468 121 347 288.0% 346 122 35.2%

Net margin 11.2% 3.0% 8.2%p 8.4% 2.8%p

Majority interests 467 143 323 225.4% 354 112 31.8%

Minority interests 1 (23) 24 104.7% (8) 9 113.0%

EBITDA1) 1,263 1,023 240 23.5% 1,093 171 15.6%

EBITDA margin 30.3% 25.5% 4.8%p 26.6% 3.8%p

1) EBITDA = Operating income + Depreciation (including R&D related depreciation)

13

Operating Expenses (Consolidated)

Financial Results

Labor costs: Increased 24.2% YoY as a result of

the SK M&C’s merger with SK Planet. The 18.9%

QoQ decrease resulted from the base effect of

New Year-bonuses paid in 1Q13

Commissions paid: Decreased 10.5% YoY and

4.4% QoQ as SKT reduced marketing expenses

Advertising: Increased 10.8% YoY and 70.1%

QoQ as a result of SKT’s increased advertising of

the LTE “눝” and LTE-A campaign

Depreciation: Increased 16.8% YoY and 4.1%

QoQ due to SKT’s increased depreciable LTE

network-related investments

Network interconnection: Decreased 7.7% YoY

due to the adoption of lower interconnection

rates

(KRW bn) 2Q13 2Q12 YoY 1Q13 QoQ

Labor cost 364 293 71 24.2% 449 (85) -18.9%

Commissions paid 1,386 1,548 (162) -10.5% 1,451 (65) -4.4%

Advertising 110 100 11 10.8% 65 45 70.1%

Depreciation1) 710 607 102 16.8% 682 28 4.1%

Network interconnection 252 273 (21) -7.7% 253 (0) -0.1%

Leased line 62 65 (4) -5.8% 63 (2) -2.9%

Frequency usage fees 55 47 8 16.0% 50 5 9.6%

Cost of goods sold 307 299 7 2.5% 321 (14) -4.4%

Others 365 358 6 1.8% 369 (4) -1.1%

Total Operating expenses 3,611 3,592 18 0.5% 3,702 (91) -2.5%

1) Includes R&D related depreciation

14

Balance Sheet (Consolidated)

Financial Results

Assets

Current assets: Increased 10.0% YoY as cash and

accounts receivables rose as a result of the SK M&C’s

merger with SK Planet

Non-current assets: Decreased 3.9% YoY due to the

decrease in the number of consolidating subsidiaries1).

The 0.6% QoQ decrease resulted from lower

purchases of new facilities

1) Number of consolidating subsidiaries decreased (30→28); sale of SKY Property and merger of Madsmart

Liabilities

Current liabilities: Increased 6.9% YoY due to the rise in

current portion of SKT’s long-term debt. The 9.5% QoQ

decrease resulted from the payment of year-end

dividends which reduced dividends payable

Non-current liabilities: Decreased 19.9% YoY and 5.7%

QoQ due to the reduction in SKT’s long-term borrowings

Shareholders’ equity

The 7.0% YoY and 8.2% QoQ increases resulted

from SKT’s issuance of hybrid bond and increase

in retained earnings

(KRW bn) 2Q13 2Q12 YoY 1Q13 QoQ

Total assets 25,436 25,773 (337) -1.3% 25,409 28 0.1%

Current assets 5,231 4,754 476 10.0% 5,082 149 2.9%

Cash & marketable securities 1,693 1,699 (5) -0.3% 1,493 200 13.4%

Non-current assets 20,206 21,019 (813) -3.9% 20,327 (121) -0.6%

Property & equipment 9,403 9,036 367 4.1% 9,604 (201) -2.1%

Intangible assets 4,303 4,574 (271) -5.9% 4,390 (86) -2.0%

Investment assets 6,025 6,150 (125) -2.0% 5,809 217 3.7%

Total liabilities 12,060 13,273 (1,213) -9.1% 13,041 (981) -7.5%

Current liabilities 5,689 5,322 366 6.9% 6,287 (599) -9.5%

Short-term borrowings 61 784 (724) -92.3% 160 (100) -62.2%

Current portion of long-term debt1)

1,553 367 1,186 323.4% 910 643 70.6%

Non-current liabilities 6,371 7,950 (1,579) -19.9% 6,754 (383) -5.7%

Bonds payable & long-term borrowings

5,432 6,682 (1,251) -18.7% 5,750 (319) -5.5%

Total shareholders' equity 13,376 12,501 876 7.0% 12,368 1,009 8.2%

Interest-bearing debt2) 6,883 7,684 (801) -10.4% 6,670 213 3.2%

Debt/Equity ratio3) 51.5% 61.5% -10.0%p 53.9% -2.5%p

1) Includes current portion of long-term payables related to payment of frequency license fee

2) Interest-bearing debt= Short-term borrowings+Current portion of long-term debt+Bonds payable & long-term borrowings

3) Debt/Equity ratio = Interest-bearing debt / shareholders' equity

15

Maintain strong shareholder return policy

Shareholder Return

Paid annual cash dividend of KRW 9,400/share

since 2007 including interim dividend of KRW

1,000/share

Also paid interim dividend of KRW 1,000/share in

this year

Commenced share buybacks in 4 out of past 6

years

(Units: KRW bn)

* The total number of treasury stocks stood at 10,237,229 shares(12.7% of total stock issued) as of 2Q13

0

0

0

0

0

1

1

1

1

1

1

'07 '08 '09 '10 '11 '12

Cash Dividend Share Buyback*

680

880 864

210 208

774

92

801

119 655

Cash

Dividend

Total

Shareholder

Returns

‘07 ‘08 ‘09 ‘10 ‘11 ‘12

Dividend Policy DPS

Dividend Per Share KRW 9,400 / Share

Payout Ratio 42% 53% 53% 34% 39% 53%