SK Telecom (SKT) has announced it will split its wholly owned subsidiary SK Broadband into a surviving company and a newly established company, SK Horizon. The surviving company will focus on innovation in its fixed-line, media and enterprise businesses, while SK Horizon will aim to expand Korea’s artificial intelligence data center (AIDC) infrastructure. The announcement was reported by Institutional Real Estate on August 31, 2026.
In connection with the spin-off, SKT has entered into a definitive agreement with funds managed by KKR and the IMM Investment-Stonebridge consortium for a combined KRW 3.08 trillion ($2.2 billion) equity investment in SK Horizon. Keith Kim, partner at KKR, said the firm is pleased to support SKT as it establishes SK Horizon and expands its AI data center infrastructure platform in Korea. Kim added that Korea’s advanced digital ecosystem and growing demand for AI capacity provide a strong foundation for SK Horizon’s next phase of growth.
The transaction implies that SKT is positioning SK Horizon as a dedicated vehicle for AIDC expansion, separating that growth mandate from the surviving company’s fixed-line, media, and enterprise operations. The involvement of KKR and the IMM Investment-Stonebridge consortium suggests institutional investor interest in Korean AI infrastructure capacity, though the dossier does not provide details on ownership percentages, governance, or how the investment will be deployed.
What remains unknown is significant. The source is a single secondary summary with partial text, and the dossier does not include the full announcement, financial terms beyond the headline equity amount, closing conditions, or the composition of the IMM Investment-Stonebridge consortium beyond its name. The reported $2.2 billion figure is not corroborated by a second source, and no material claims beyond the investment amount and KKR’s participation are independently verified.