- The name reflects the willingness of the Platform Business to realize limitless possibilities by navigating a vast world full of new
??adventures and unknown dreams
- SK Planet will provide platform-related services like T Store, T Map, Commerce and New Media from 1 Oct.

SK Telecom (NYSE:SKM) announced today the official name of its spin-off company. The new business entity, tentatively called Platform Company, will use ‘SK Planet’ as its official name upon its launch on October 1, 2011.

The name ‘SK Planet’ was derived from the word ‘planet’ to describe a world full of new adventures and unknown dreams, and at the same time, it is a combined word that integrates ‘Platform’ and ‘Networking’ to reflect the company’s willingness to build platform-based relationships with new people, new transactions, and new societies.

In particular, the name displays the company’s forward-looking philosophy to create a world where limitless possibilities of platform business are achieved in an imaginary space.

As a 100 percent non-listed subsidiary of SK Telecom, SK Planet will start offering diverse plat-form services including T Store, T Map, Commerce and New Media. SK Planet is determined to be the first to develop and launch innovative services strong enough to dominate the market by staying a step ahead of the market trends. Moreover, it will focus on realizing mid-to long-term growth rather than short-term profitability by building an organizational culture that creates innovations through the spirit of change and challenge.?

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SK planet, a wholly owned subsidiary of SK telecom, was established in October 1, 2011 with an aspiration to become a global platform innovator. As the lynchpin of SK telecom’s future growth, the company was spun off with the industry-leading platform businesses including T-Store, T-map, Melon, and Cyworld, Korea’s biggest mobile app store, mobile navigation, online music service and SNS respectively. The company also pioneers in new media with hoppin, Korea’s first multi-screen premium video service, and continues to build momentum in its online commerce leadership with 11th Street. SK planet aspires to develop a wide scope of global partnerships such as TMK, a media joint venture with Disney. Through collaborations with partners, SK planet is committed to building global platform business in Asia and other strategic markets. For more information, please visit www.skplanet.co.kr.