SK Telecom said second-quarter 2026 revenue rose 0.5% year over year to KRW 4.3591 trillion while operating profit increased 67.3% to KRW 566 billion. Its AI data center revenue climbed 92.5% to KRW 136.2 billion, and the company has created SK Hyper to pursue a staged 5-gigawatt build-out by 2029; the target remains subject to execution.
SK Telecom reported consolidated revenue of KRW 4.3591 trillion for the second quarter of 2026, up 0.5% from a year earlier, and operating profit of KRW 566 billion, up 67.3%. The company's August 5 results release said AI data center revenue grew much faster than the overall business, while an August 12 Korea Times report placed that growth alongside the AI businesses of South Korea's other major telecom operators.
AI data centers led the growth signal
SK Telecom said quarterly AI data center revenue reached KRW 136.2 billion, a 92.5% year-over-year increase driven by expanded utilization. That is a material acceleration inside a company whose total revenue grew only 0.5%, but the figures should not be read as proof that AI data centers caused the full increase in operating profit. SK Telecom said the 67.3% profit comparison also reflected a base effect from temporary spending in the prior-year quarter.
The release does not provide standalone operating profit or margin for the AI data center segment. For practitioners and infrastructure buyers, the clearest disclosed indicator is therefore revenue growth and utilization, not segment profitability.
SK Hyper carries the expansion plan
SK Telecom said it created SK Hyper in July to lead AI data center business development, including securing sites and power and attracting global customers. The company set an initial goal of opening 5 gigawatts of capacity in stages by 2029. That figure is a forward target rather than capacity already built or contracted.
The Korea Times independently reported the same quarterly revenue figures and AI data center growth rate, and described SK Hyper as the vehicle for the company's expansion. Its comparative reporting also showed that AI and cloud businesses grew at KT and LG Uplus, but those are separate corporate results and are not treated here as part of SK Telecom's primary event.
What to watch next
The next useful evidence will be how much capacity SK Hyper actually secures, when each phase becomes operational, and whether utilization and revenue keep pace with the announced 5-gigawatt ambition. Customer commitments, power availability, capital requirements and segment margins will determine whether the current revenue growth becomes a durable infrastructure business rather than a strong quarter against a smaller base.
Key Points #
- 1SK Telecom reported Q2 2026 revenue of KRW 4.3591 trillion and operating profit of KRW 566 billion, up 0.5% and 67.3% year over year, respectively.
- 2Company-reported AI data center revenue rose 92.5% to KRW 136.2 billion as utilization expanded; standalone segment profit was not disclosed.
- 3New subsidiary SK Hyper is tasked with a staged 5-gigawatt AI data center target by 2029, which remains a forward execution goal rather than completed capacity.
Scoring Rationale #
The verified Q2 growth and 5-gigawatt target are material signals for AI infrastructure operators and investors, but the figures are company-reported, standalone AI data center profitability is undisclosed, and the capacity plan remains subject to execution.
Sources #
Primary source and supporting public references used for this report.
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