SK Telecom, the leading mobile carrier in South Korea, has suffered a significant blow with a sharp increase in subscriber defections following a hacking incident last month.
According to industry estimates, the number of customers switching from SK Telecom to rival carriers surged in April, pushing the company’s market share below the 40% threshold.
Data released by the Ministry of Science and ICT on May 16 showed that SK Telecom had approximately 23.104 million subscribers as of March, accounting for 40.4% of the total wireless market. Although this figure represented a slight increase in subscribers compared to February, the company’s market share declined by 0.1 percentage points due to overall market growth.
However, the situation deteriorated rapidly in April. According to the Korea Telecommunications Operators Association (KTOA), about 237,000 customers switched from SK Telecom to other carriers during the month.
A simple deduction of this figure from March’s subscriber count suggests SK Telecom had around 22.86 million subscribers in April, with its market share falling to an estimated 39.9%.
The hacking incident was first reported on April 22, triggering a swift and substantial increase in customer defections.
The trend accelerated following the launch of a free USIM card replacement service on April 28, with 34,132 users porting out that day. The figure peaked on May 1, with 38,716 users switching carriers.
Since then, the defection rate has gradually eased. Daily port-out numbers have dropped below 10,000 in May, dipping under the 10,000 mark for the first time on May 15.
From April 22 to May 15, a total of 345,646 SK Telecom subscribers switched to other carriers. Taking into account new sign-ups, the net loss of subscribers during this period is estimated at around 302,918.
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SK Telecom Sees 300,000 Subscribers Leave After Hack, Market Share Falls Below 40%
SK Telecom, the leading mobile carrier in South Korea, has suffered a significant blow with a sharp increase in subscriber defections following a hacking incid
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