SendTech Times
Cloud & Data CentersNews|August 29, 2026, 10:39 AM
DEPLOYMENT WATCH:

SK Telecom Forms $2.24 Billion AI Data Centre Spin-Off

BySendTech Times Cloud & Infrastructure DeskNewsroom-edited, source-reviewed coverage
Newsroom brief

SK Telecom will retain 51% of SK Horizon while KKR and an IMM-Stonebridge consortium invest in a data centre and submarine cable platform with 318MW of IT capacity.

Verified against source materialEdited by SendTech Times Cloud & Infrastructure DeskSource: Light Reading
SK Telecom Forms $2.24 Billion AI Data Centre Spin-Off
Image source: Light Reading source image

SK Telecom will move SK Broadband data centre assets into a new SK Horizon subsidiary backed by 3.08 trillion Korean won, or about $2.24 billion, Light Reading reported, giving the operator a separate vehicle for AI data centre infrastructure and submarine cable expansion.

The transaction brings in KKR and a consortium of IMM Investment and Stonebridge Capital as outside investors.

KKR will hold 29% of SK Horizon, the IMM-Stonebridge consortium will hold 20%, and SKT will keep management control with a 51% stake.

SKT plans to finish separating the unit in the first quarter of next year, subject to regulatory approvals and an extraordinary shareholders meeting.

The structure separates the capital-heavy infrastructure unit from SK Broadband's remaining fixed-line, media and enterprise operations.

SK Horizon will take over eight existing data centres in Seocho, Ilsan, Bundang, Gasan, Centum, Yangju and Pangyo.

Two AI data centres under construction in Ulsan and Guro are also part of the package, bringing the facilities to a combined IT capacity of 318MW.

The new company will also pursue phased submarine cable expansion, tying domestic AI compute infrastructure to international connectivity.

SKT described the spin-off as the governance step needed to accelerate its AI data centre business, after establishing SK Hyper last month as a $510 million subsidiary focused on gigawatt-scale AI data centre projects in South Korea.

SK Hyper has a target of reaching 15GW of total capacity by 2035.

Inside the restructured group, SKT will set overall AI data centre strategy and work with major global technology companies, SK Horizon will expand existing AI data centres and submarine cable infrastructure, and SK Hyper will handle business development for new AI data centre projects.

Kim Seong-soo, the newly appointed chief executive of SK Horizon and chief executive of SK Broadband, said the new structure is intended to deepen specialist focus and speed up execution in the AI data centre business.

The ownership split leaves SKT in control while bringing in financial investors for infrastructure growth.

Completion still depends on approvals and the shareholder meeting, so the first-quarter close is the operational marker for when SK Horizon can begin functioning as the dedicated AI data centre and submarine cable platform.

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