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13 May 2010SK Telecom (Hanaro Telecom)

Hanaro Telecom was formed in September 1997 as the second largest operator in the South Korean local telephone market. It is also now a high-speed Internet provider in South Korea. Hanaro Telecom launched its Internet access services in Seoul, Busan, Incheon and Ulsan in April 1999. By end-December 2002, the company had deployed fibre-optic networks covering 100 cities.

On 2 December 2007, SK Telecom placed a USD 1.18 billion bid for the acquisition of a stake in Hanaro Telecom. According to the terms of the deal, existing shareholders AIG and Newbridge Capital sold their stakes to SK Telecom. SK Telecom is the largest single shareholder. The deal was closed in March 2008 following which, the company was renamed SK Telecom in September 2008.

SK Telecom offers broadband content on its multimedia portal HanaFOS.com, which has been integrated with HANANET and DreamX.net. The company plans to explore wireless LAN, BWLL and 2.3G frequency wireless local loop services.

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Taken from: Operator Profiles: South Korea
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