November 2010

Investor Presentation

2

Disclaimer

This presentation has been prepared by SK Telecom Co., Ltd. (“the Company”). This presentation is being

presented solely for your information and is subject to change without notice. No representation or warranty,

expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the

information presented. The Company, its affiliates, advisers or representatives accept no liability whatsoever for

any losses arising from any information contained in the presentation.

This presentation does not constitute an offer or invitation to purchase or subscribe for any shares of the

Company, and no part of this presentation shall form the basis of or be relied upon in connection with any contract

or commitment.

The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any

other person or published, in whole or in part, for any purpose.

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1. Wireless market overview

Contents

2. Financial results

4. Shareholder return

3. Growth strategy

· B2B business

· Service platform

· B2C business

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1. Wireless market overview

70.1%75.9% 79.4%

83.2%89.8% 93.8%

98.3%102.8%

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Overview of Korean wireless market

Wireless market trend Wireless market’s total and data revenue

Source: Company data

(Units: Million, %) (Units: KRW Tn)

Despite the Korean wireless market showing penetration rate of over 100%, the market is expected to show continued increase in market penetration and growth in revenue

Total subscribers WCDMA subscribersPenetration

Total revenue Total data revenue

2003 2004 2005 2006 2007 2008 2009

33.636.7 38.3

40.243.5 45.6

47.9

0.2 5.716.5

24.8

50.2

3Q2010

29.3

1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10

5.25

5.56 5.615.68

5.575.74

1.01 1.07 1.081.14 1.12 1.20

5.83

1.28

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Competitive landscape

Market share by subscribers

Source: Company data, as of September 30, 2010

SKT50.7%

KT (Mobile)31.5%

LG U+ (Mobile)17.8%

(Units: 000s, %)

25,44515,831

8,933

SK Telecom continues to demonstrate undisputed market leadership

Mobile service revenue(Units: KRW Bn)

SKT KT LGU+

3,181

1,766

883

3Q 2010

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2. Financial results

Financial results – 3Q 2010

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Revenue

Marketing Expense*(Ratio to Revenue)

Operating Income

EBITDA

Net Income

Capital Expenditure

3Q 2010

3,181

751(23.9%)

519

1,065

364

487

3Q 2009(KRW Bn)

YoY (%)

△1.5%(△1.0%p)

△16.1%

△3.7%

△12.5%

69.3%

4.1%3,057

762(24.9%)

619

1,106

416

288

Note: * Marketing Expense to Sales ratio is calculated in accordance with KCC guideline

2Q 2010 QoQ (%)

△2.8%(△1.3%p)

△10.8%

△1.9%

0.9%

63.8%

3.0%3,089

772(25.3%)

582

1,085

364

297

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3. Growth strategy

· B2B business

· Service platform

· B2C business

0

50

100

150

200

250

300

350

'09 '10 1Q '10 2Q '10 3Q '10 4Q

B2C business Smartphone adoption impact

Adoption trend of smartphone and new data price plan

(Units: Million)

2.50

1.22

0.73

2.33

1.21

0.67

0.22

All-in-one price plan users (55 or above)

41%

59%40%36%64% 60%

56%

44%

All-in-one price plan users (55 below)

0.46

Accumulated smartphone users

3.30(E)

Galaxy S6/22

Unlimiteddata service

8/16

Currently 80%

of new subscribers to

All-in-one price plan

are taking All-in-one

55 or higher which

provide unlimited data

service

Smartphone and new data price plan users

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B2C business

(Units: KRW 1000s)

Smartphone adoption impact

Smartphone ARPU has increased 4% each for the last two quarters to KRW 57,000

Further growth expected due to adoption of high-end smartphone like Galaxy S

57

55

53 240

’10 1 Q 2Q 3Q

4%

4%

Increased ARPU of smartphoneARPU of smartphone

Smartphone ARPU

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B2C business Competitive data-centric network

Network portfolio strategy

Deploy 6FA WCDMA service from 4FA service

3FA for data, 3FA for voice

Introduce LTE service in 2011Nation wide

1

6 sector solution to double the data capacity at 1,000BTSsBase

TransceiverStation area

2

Build over 10,000 data Femtocell* in 2011

17,000 Wi-Fi zones in 2010, more will be built in 2011

*Data Femtocell: Low output, extra small cellular base station for in-building use

Data heavyarea

(such as in-building)

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Meet the wireless internet demand which is expected to increase 20~30 times for the next three years

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B2B business Growth of B2B business

Growing mobile office numbersGrowing revenue

2Q 3Q

190.735%

660257.0

580

340 240

80

’09 ’10 3Q ’10 4QE

(Units: Company)(Units: KRW Bn)

Supplied smartphone to POSCO, KBS etc.

Constructed mobile office, mobile groupware or SFA* *SFA: Sales Force Automation

Number of corporate customers installing mobile office is expected to increase 94% YOY

B2B sales of 3Q was KRW 257 billion, 35% increase QoQ

SKT will strive to achieve the sales target of KRW 1 trillion for 2010

240

8071%

14%

Increased B2B salesB2B sales

66.3

Increased number of companies installing m-officeNumber of companies installing m-office

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Progress

Progress & planCategory

Providing mobile office settingsto corporate to enhance their productivity and efficiency

B2B business

Content

’10 3Q: 580 companies

Striving to expand ConnectedWorkforce

ConnectedManagement

ConnectedHealthcare

Developing and expandingmobile workforce service by supplying mobile businesssolution specially fit SMB* needs

*SMB: Small and Medium Businesses

Setting up HIS**, EMR*** formedical institutions to operateu-healthcare platform andindividualized health portals

**HIS: Hospital Information System***EMR: Electronic Medical Record

’10 4Q: Service commercializationtogether with Duzonbizon

’10 4Q: SK Consortium for smartcare service will open pilot serviceEstablishing JV with majorgeneral hospital before longCurrently developing HIS andother healthcare solutions

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Progress

Progress & planCategory

Providing ICT-based smallbranches to financial institutions

B2B business

Content

’11 1H: Service commercializationtogether with Korea Exchange Bank

Planning expansion to financeindustry other than banking, alsoto overseas

Developing education serviceplatform by combining educationcontent and ICTPreparing overseas expansionincluding China

Providing safety, security andmaintenance information of car through MIV* technology

*MIV: Mobile In Vehicle

’10 4Q: Complete R&D ’11 1Q: Open pilot service’11 2Q: Service commercializationtogether with Chungdahm Learning

’11 4Q-’12 1Q: Applying high-techremote control system to RenaultSamsung Motors over SM5

Keep discussing with otherdomestic/foreign companies

ConnectedFinance

ConnectedLearning

ConnectedCar

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Service platform SKT’s service platform

Service platform

Convergence of necessary software and hardware for creating various services

Hardware

O/S kernel

TerminalO/S

Middleware

Application

Android OS

Linux

Galaxy S

Flash

YouTube

SKT’s target area(Service platform)

Service platform

Platform

Platform providing various services not using hardware or O/S kernel but software

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Service platform Strategy

Expansion strategy

Category Major service platform

LBS

Commerce

Messaging

Contentdistribution

e-book, T store,TV portal, PM*

SNS

B2B Connected health/car/education,smart office

Common platform

ISF**, personalization engine, OMS***, WPAN mobile ad

*PM: Personal Media

**ISF: Intelligent Service Framework

***OMS: Opinion Mining System

Major service platform

Open API**** on the service platform- T map, T store, SMS/MMS, etc.

Focus on service platform development - Established Product Development Factory

within the service division

Total KRW 1 trillion of CapEx/OpEx will be made over the next 3 years

In the future, much of the non-network investment will be reassigned to this area

****API: Application Programming Interface

Proactively support killer service platforms of marketable/technology proven businesses

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Service platform example

By disclosing the API of T map service, other application developers can create many kinds of business model based on T map service

Ultimately creating family of T map related business models(e.g How to enjoy the best restaurant)

Example: LBS – T map

Fast road guidance wireless update, simple sync

Application developer

Service platform

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4. Shareholder return

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Shareholder return

Special cash dividend: 2007 (KRW 100 Bn)

Payout ratio DPS

2006

8,000

2008

9,400

2010

Cash dividend amount to be similar to 2009

Completed share buy back* in October: total amount KRW 210 Bn

Occasionally cash dividend has been supplemented by share buyback

Cashdividend(KRW)

Note: * These shares cannot be cancelled according to the Korean law

2009

9,400

2007

8,000

1,400

2005

9,400

2008

Totalshareholder

return(KRW Bn)

20072005 2006

791 801 775 680119209 93

2009Share buyback

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Q & A