SK Telecom has announced a significant investment of KRW 700 billion, equivalent to USD 500 million, to enhance its cybersecurity measures following a major breach that compromised customer privacy and data security. The company’s new Accountability and Commitment Program aims to rebuild trust and improve transparency through four key components: the Customer Assurance Package, the Information Protection Innovation Plan, a Customer Appreciation Package, and a Subscription Cancellation Fee Waiver.
In response to the breach, SK Telecom is reinforcing its Customer Assurance Package to ensure robust data protection and quick resolution of any issues. The company plans to overhaul its information protection system over the next five years, aligning with the U.S. National Institute of Standards and Technology’s Cybersecurity Framework. SK Telecom aims to become a leader in cybersecurity in Korea by 2028 and gain global recognition within five years.
To show gratitude to its loyal customers during this challenging period, SK Telecom is offering a Customer Appreciation Package, including a waiver of subscription cancellation fees. The breach, detected on April 19, had persisted for nearly three years, exposing sensitive data of 25 million users through 33 types of malware. CEO Yoo Young-sang described it as the worst hacking incident in the telecom industry’s history.
