SK Telecom’s ADRs moved sharply higher in U.S. trading as the market leaned into a “normalization” narrative: earnings are expected to recover toward pre-incident levels and shareholder returns are expected to improve as the company laps last year’s hacking-related one-time costs. In South Korea, the common shares hit a fresh 52-week high intraday on April 15, 2026, with commentary pointing to expectations for earnings recovery, dividend resumption/normalization, and improving AI business prospects as key drivers. (mk.co.kr)

The latest local-market read-through is that quarterly payouts could restart at meaningful levels, with estimates clustering around roughly KRW 800–900 per share for the first quarter and an annualized dividend potentially returning near prior “normal” ranges if conditions hold. Earlier April coverage also highlighted expectations that dividends per share could normalize back toward the 2024 level, reinforcing the income-support angle behind the rally. (mk.co.kr)

Beyond telecom fundamentals, SK Telecom’s AI strategy is increasingly being treated as a valuation lever. The company has been emphasizing an “AI full-stack” push and AI data-center initiatives, including a project in Ulsan with AWS, and the market has also been repeatedly re-highlighting the company’s minority stake in Anthropic as a potential source of upside via mark-to-market or sentiment-driven revaluation. (mk.co.kr)

Near-term, the next dividend decision and any updated guidance around earnings recovery are likely catalysts for follow-through (or reversal) after a fast move. Investors will also be watching for concrete milestones on AI data-center deployment and any new disclosures that clarify the economic value and monetization path of the Anthropic stake relative to SK Telecom’s core telecom cash flows. (mk.co.kr)