Posted : 2021-06-10 16:35
Updated : 2021-06-10 16:36
SK Telecom (SKT) CEO Park Jung-ho speaks at the company s general shareholders meeting held in March at SKT s headquarters in central Seoul. / Courtesy of SKT
By Kim Bo-eun
SK Telecom (SKT) announced Thursday it would split its shares five-for-one, as well as conduct a horizontal spinoff. The decision by the country s top mobile carrier is interpreted as a means to address possible complaints from investors as well as to boost its stock price over the long term.
The stock split comes while the telecommunications company is splitting into two entities ― plans have been approved by the company s board. The spinoff would create two entities ― one being tentatively named SKT Investment. The spinoff will be effective from Nov. 1 this year, it said.