SK Telecom will apply artificial intelligence and cloud to all of its new endeavors even if it causes short-term losses, company CEO says.
New services must also be open to more companies in the digital age, SK Telecom CEO Park Jung-ho said at a remote town hall meeting of the company where all employees were welcomed to participate via video calls and mobile streaming to discuss strategy in a “Post-COVID-19 Era”.
The meeting was done this way in light of the COVID-19 pandemic, the telco said in a statement.
“Telcos must escape the mindset that its competence comes from market share, or number of subscription, or average revenue per user,” Park stressed. “In all areas, the old ways of thinking must be abolished.”
All services must be reviewed by younger employees, he added.
SK Telecom said its Video-on-Demand (VOD) service revenue rose over 10% from a year ago while its e-commerce platforms saw transaction rise 15% from a year ago, due to the virus outbreak.