SK Telecom Reports Strong Profit Growth for Core Business; FVE Down to USD 28.05 on Currency

SK Telecom reported another solid result for the third quarter with revenue growth of 3% year on year and operating profit growth of 18.5% year on year. The key was its core mobile business growing operating profit 21.6% year on year driven by an increased 5G customer base and recovery in roaming revenue. While overseas travel has not yet fully recovered, SK Telecom claimed that a 50% increase in the number of people using roaming services may mean that roaming revenue comes back stronger than pre-COVID-19 once overseas travel fully recovers. The fixed-line SK Broadband business was solid but less spectacular in growing operating income by 1.4%. The result puts the business on track to hit its 2022 revenue guidance of KRW 17.4 trillion implying a little over 4% year-on-year growth.