The Ministry of Science and ICT has specified that the resumption of new subscriber recruitment by SK Telecom will take place "after completing the replacement of all USIMs (User Subscriber Identity Module)", leading to intensified competition among telecom companies for customers. SK Telecom's USIM replacement rate has exceeded 57% of all reservations. If the current replacement speed is maintained, SK Telecom is expected to resume new subscriber services within 2 weeks.
◇ Minister Yoo Sang-im: 'We must satisfy users who want to replace their USIMs.'
Minister Yoo Sang-im of the Ministry of Science and ICT responded to a reporter's question on whether he was considering the timing for resuming new subscriptions for SK Telecom after the "AI and Digital Technology Commercialization Strategy Dialogue" held at Coreana Cosmetics in Jung-gu, Seoul, on the 28th, saying, "We must satisfy customers who wish to replace their USIMs."
In response to a question about whether the number of USIM replacements had exceeded "half of the reserved users", Minister Yoo said, "We must replace all of them." He added, "Customers who want to use the USIM rerouting are unlikely to demand a replacement. However, we must satisfy customers who request a physical USIM change."
As of the 5th, SK Telecom's 2,600 agents have stopped new business due to administrative guidance from the Ministry of Science and ICT. While current laws do not specify a duration for the existence of administrative guidance, it is stated that guidance should end once the purpose is achieved.
According to SK Telecom, as of 12 a.m. on the 29th, the cumulative number of USIM replacements has reached 5.17 million. The number of remaining reserved customers is 3.89 million, with 57% of those who reserved USIM replacements having completed the process. SK Telecom has replaced USIMs for about 300,000 subscribers daily over the past six days. At the current pace, assuming all reservists want a USIM replacement, the replacement operations are expected to be completed in about 2 weeks.
◇ 450,000 SKT defectors... Agents say 'small business damage is worsening.'
The battle for customers among the three major mobile carriers is expected to intensify for some time. KT and LG Uplus are starting to attract customers by offering incentives. According to industry sources, about 450,000 customers have defected from SK Telecom in the month following the hacking incident.
KT has raised the maximum official subsidy for the Samsung 'Galaxy S25' to 700,000 won. With additional incentives, discounts can reach around 800,000 won. This means customers can purchase the Galaxy S25 (256GB) device, which has a retail price of 1,155,000 won, for about 350,000 won. LG Uplus has also increased its official subsidy to a maximum of 700,000 won.
With the suspension of new subscriptions at SK Telecom, the company is distributing a 'sales incentive policy' to retailers and is working on customer retention. SK Telecom has increased the subsidies for the 'Galaxy S25 series' to between 650,000 and 660,000 won under the conditions of eSIM activation.
The ongoing customer exodus has been raising dissatisfaction among SK Telecom's agents. The SK Telecom Agent Council issued a statement, saying, "SK Telecom must accurately recognize the dedicated efforts of agents to resolve this situation and promptly propose compensation measures commensurate with the losses incurred during the suspension of new recruitment." It also urged that "the suspension of new recruitment must be lifted immediately to prevent further harm to small businesses."
Analysts believe that the SK Telecom hacking incident may have a negative impact on next year's operating profit rather than this year's performance. Kim Hong-sik, a researcher at Hana Securities, noted, "While one-time expenses will negatively affect operating profit on an annual basis, the effect of decreased revenue will likely be offset by reduced marketing expenses, so there won't be significant damage." However, he added, "The decline in market share will likely have a negative outlook on mobile service revenue for next year's operating profit compared to this year."