6-K 1 d23944d6k.htm FORM 6-K Form 6-K





Washington, D.C. 20549



Form 6-K




PURSUANT TO RULE 13a-16 OR 15d-16 OF



Commission File Number: 333-04906



SK Telecom Co., Ltd.

(Translation of registrant’s name into English)



65, Euljiro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)



Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                  Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.




Report on Completion of Spin-off

As of December 30, 2020, SK Telecom Co., Ltd. (the “Company”) completed the spin-off of its mobility business (the “Spin-off”) into a newly incorporated company (the “Spin-off Company”).

I. Spin-off Timeline





Resolution of the board of directors    October 15, 2020
Record date for determination of shareholders for shareholders’ general meeting of the Company for Spin-off    October 30, 2020
Shareholders’ general meeting of the Company for approval of Spin-off plan    November 26, 2020
Effective date of Spin-off    December 29, 2020
Shareholders’ general meeting of the Company for report of Spin-off and inaugural general meeting of Spin-off Company    December 29, 2020
Registration of Spin-off    December 30, 2020
Others    Notice of record date for shareholder determination    October 16, 2020

Dispatch of notice of shareholders’ general meeting and

public notice of shareholders’ general meeting

   November 9, 2020
   Submission period for creditors’ dissent    November 26, 2020 – December 28, 2020

II. Change in Share Ownership of Large Shareholders

Not applicable, as the Spin-off is a simple vertical spin-off.

III. Exercise of Appraisal Rights

Not applicable, as the Spin-off is a simple vertical spin-off.

IV. Matters Relating to Protection of Creditors

On November 26, 2020, the Company published a “Notice regarding Submission of Creditor’s Dissent Regarding Spin-off” on its website (http://www.sktelecom.com) as notice to all creditors. The submission period for creditors’ dissent was from November 26, 2020 to December 28, 2020, and no creditors’ dissent was submitted during such period.

V. Legal Proceedings

As of the date of this report, no legal proceeding relating to the Spin-off that could affect the effectiveness of the Spin-off has been initiated.

IV. Issuance of New Shares

As the Spin-off is a simple vertical spin-off, all of the shares of the Spin-off Company issued at its incorporation were allocated to the Company.

VII. Statement of Financial Position Before and After Spin-off

(Unit: Won)


     Before Spin-off      After Spin-off  
   Company      Spin-off Company  



I. Current Assets

     4,754,971,847,389        4,628,581,352,158        126,647,645,976  

Cash and Cash Equivalents

     379,054,704,542        257,954,704,542        121,100,000,000  

Short-term Financial Instruments

     290,873,020,000        290,873,020,000        —    

Trade Receivables

     1,503,023,481,625        1,498,776,443,178        4,247,038,447  

Other Receivables (Current)

     469,375,858,146        469,230,620,298        145,237,848  


     5,452,631,071        4,873,631,071        579,000,000  

Other Current Assets

     2,107,192,152,005        2,106,872,933,069        576,369,681  

II. Non-Current Assets

     25,983,779,504,345        26,086,009,254,520        59,354,093,201  

Long-term Financial Instruments

     744,180,567,542        744,180,567,542        —    

Other Receivables (Non-current)

     248,528,883,025        248,528,883,025        —    

Investments in Associates and Subsidiaries

     10,800,206,635,150        10,961,460,215,149        —    

Long-term Prepaid Expenses

     975,081,643,772        975,081,643,772        —    

Tangible Assets

     8,424,981,869,221        8,396,728,201,665        28,253,667,556  

Intangible Assets

     3,175,726,673,248        3,146,725,813,110        29,000,860,138  


     1,306,236,298,549        1,306,236,298,549        —    

Other Non-current Assets

     308,836,933,838        307,067,631,708        2,099,565,507  

Total Assets

     30,738,751,351,734        30,714,590,606,678        186,001,739,177  



I. Current Liabilities

     4,560,493,241,251        4,552,255,807,776        8,494,584,220  

Current Portion of Long-term Borrowings

     13,686,702,234        13,686,702,234        —    

Current Bond Payable

     359,740,538,467        359,740,538,467        —    

Other Payables

     3,149,840,769,268        3,142,141,161,349        7,699,607,919  

Current Provisions

     56,498,085,389        56,498,085,389        —    

Income Tax Liabilities for the Period

     118,472,510,808        118,472,510,808        —    

Lease Liabilities

     210,627,094,385        210,627,094,385        —    

Other Current Liabilities

     651,627,540,700        651,089,715,144        794,976,301  

     Before Spin-off      After Spin-off  
   Company      Spin-off Company  

II. Non-current Liabilities

     8,705,315,779,397        8,689,392,467,816        16,253,574,958  

Long-term Borrowings

     13,670,609,717        13,670,609,717        —    

Non-current Bond Payable

     6,458,370,819,160        6,458,370,819,160        —    

Defined Benefit Liabilities

     63,907,943,709        62,179,144,511        1,728,799,198  

Other Payables (Non-current)

     1,133,538,398,305        1,133,538,398,305        —    

Long-term Lease Liabilities

     237,032,654,071        223,011,909,766        14,020,744,305  

Deferred Income Tax Liabilities

     709,433,253,116        709,763,516,493        —    

Other Non-current Liabilities

     89,362,101,319        88,858,069,864        504,031,455  

Total Liabilities

     13,265,809,020,648        13,241,648,275,592        24,748,159,178  



Capital Stock

     44,639,473,000        44,639,473,000        5,000,000,000  

Other Paid-in Capital

     715,721,440,719        715,721,440,719        156,253,579,999  

Retained Earnings

     16,576,694,220,871        16,576,694,220,871        —    

Other Equity

     135,887,196,496        135,887,196,496        —    

Total Equity

     17,472,942,331,086        17,472,942,331,086        161,253,579,999  

Total Liabilities and Equity

     30,738,751,351,734        30,714,590,606,678        186,001,739,177  



The above statement of financial position was prepared based on the Company’s statement of financial position as of June 30, 2020 and may differ from the actual statement of financial position to be prepared as of the effective date of the Spin-off.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.





/s/ Jung Hwan Choi

Name: Jung Hwan Choi
Title: Senior Vice President

Date: December 30, 2020