South Korea Telecom Firm Loses Over Half Million Subscribers
(MENAFN) A major cybersecurity incident at South Korea's top telecommunications company, SK Telecom (SKT), has triggered a significant customer exodus, as reported by a news agency on Monday.
In May alone, close to one million users decided to switch to other mobile providers following the revelation of the breach.
Based on statistics from the Korea Telecommunications Operations Association, SKT saw a decrease of 677,491 subscribers over April and May.
Although the company did gain 157,631 new users during the same timeframe, the net result was a substantial drop of more than 500,000 clients.
This cyberattack, described as one of the most severe in the nation's history, came to light in April. It allegedly compromised sensitive personal information of more than 20 million individuals.
The disclosure triggered a noticeable rise in mobile operator switches — 943,509 users changed service providers in May, a stark increase compared to 690,954 in April.
A large portion of those leaving SKT have opted for its primary rivals — KT and LG Uplus — the country’s second- and third-ranking telecom firms, respectively.
Even with the damage, SKT continues to lead the domestic telecom sector, holding a 40.25 percent market share during the first quarter of 2025.
Amid mounting public criticism, SK Group Chairman Chey Tae-won issued a formal apology last month.
He recognized the gravity of the situation and pledged to bolster the company's digital security systems.
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