SK Telecom is taking bold steps to engage with government authorities about lifting the ban on new subscriber registrations, as the company approaches the completion of its ambitious universal subscriber identity module (USIM) replacement initiative following a significant cyber attack. With the clock ticking, the telecom giant is eager to reassure customers and shareholders alike.
In a significant update, SK Telecom announced that over 6.18 million customers have successfully replaced their USIMs, with an impressive 150,000 swaps completed just yesterday. This progress has slashed the number of customers still awaiting their replacements down to 3.16 million.
Since May 5, SK Telecom has been operating under administrative guidance from the Ministry of Science and ICT, resulting in a total suspension of new subscriptions and number transfers across more than 2,600 T World stores and online platforms nationwide. The ministry has clarified that this limitation will remain until the backlog of USIM replacements is fully resolved.
Looking ahead, SK Telecom is targeting June 20 as the date for finalizing all outstanding USIM replacements. Text messages confirming reservations will be dispatched by June 16. However, roughly 440,000 customers have not yet visited a store to complete the process after receiving their notifications. Excluding these, an estimated 2.7 million customers are still actively waiting.
With the final stages of the free USIM replacement program underway, there is optimism that the suspension on new subscriptions could soon be lifted. Lim Bong-ho, head of the MNO Business Division at SK Telecom, revealed that the company is in active discussions with the government to not only lift the restrictions but also to establish compensation mechanisms and financial support for impacted distribution partners.
The financial outlay for issuing 20 million USIMs at no charge is projected to reach around KRW 150 billion. Each unit costs KRW 7,700, coupled with distribution and handling expenses of KRW 300-400 per unit.
In light of the cyber attack, SK Telecom is significantly boosting its investment in network security. Ryu Jeong-hwan, head of SK Telecom’s Network Infrastructure Center, confirmed plans to enhance both funding and personnel dedicated to security efforts, with specific numbers yet to materialize depending on the ongoing investigation’s findings.
As SK Telecom navigates this challenging landscape, the question remains: will they turn this crisis into an opportunity for growth and innovation? Only time will tell!
What is the current status of USIM replacements at SK Telecom? Over 6.18 million customers have replaced their USIMs, with around 3.16 million still awaiting their new ones.
When does SK Telecom expect to lift the ban on new subscriptions? The company is hopeful that the ban will be lifted soon after they complete all pending USIM replacements, which are expected by June 20.
What steps is SK Telecom taking to improve network security after the cyber attack? SK Telecom plans to increase its budget and personnel dedicated to network security, although specific figures are still being determined pending investigation outcomes.
