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Posted : 2021-05-04 16:33
Updated : 2021-05-04 17:48
From left: SK Telecom CEO Park Jung-ho, KT CEO Ku Hyeon-mo, LG Uplus CEO Hwang Hyeon-sik / Korea Times file
By Kim Bo-eun
Mobile carriers are going all-out to boost their corporate value and cut their heavy dependence on the already-saturated and not-so-lucrative, conventional telecom-centric businesses.
The central point for these moves is aimed at appealing to investors, as telecom stocks have remained lackluster for the past years. They are shifting their focus from the conventional telecom business to new areas of growth, and seeking additional means to push up stock prices.
SK Telecom (SKT) said Tuesday that it will cancel 2.6 trillion won worth of treasury shares. The SK Group affiliate will cancel 8.69 million treasury shares ― almost the entirety of such shares ― on May 6. These shares amount to 10.8 percent of the total number of SKT stocks issued. ....

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