SK Telecom plans SK Horizon spinoff to scale AI data center capacity to 318 MW
SKM•Longer-term expansion plans
SK Hyper will develop new projects targeting 5 GW phased openings in 2029, scaling to 15 GW by 2035.
The transaction structure targets completion in Q1 next year, subject to shareholder meeting and regulatory approvals.
Spinoff and investment structure
SK Telecom plans to spin off SK Broadband’s data center and submarine cable units into SK Horizon to scale AI data center infrastructure.
KKR and the IMM Investment-Stonebridge consortium are set to invest a combined KRW 3.08 trillion to fund the expansion. After the investment, their stakes are expected to be 29% and 20%, respectively.
SK Telecom will retain 51% and management control, while SK Horizon will run operations and expand capacity to 318 MW across existing sites and new builds.
