SK Telecom CEO Turns to Startups for New AI Businesses

SK Telecom (017670) Chief Executive Chung Jae-hun is expanding cooperation with startups to develop new businesses in artificial intelligence.

SK Telecom said Chung met with the heads of eight startups at SKT Tower in central Seoul's Jung-gu on the 16th to hear the difficulties they face in running their businesses and to discuss ways to broaden cooperation. SK Telecom employees working on joint projects with the startups also attended, sharing examples of collaboration and plans for commercialization. Sierra Base, a company that provides drone-based AI solutions for infrastructure safety inspections, is working with SK Telecom to automate safety checks of telecom towers using small autonomous drones. The approach replaces inspections previously carried out by workers who climbed the towers themselves with AI and drones.

SK Telecom has been identifying and supporting startups since 2013, and this year it expanded its support programs around SKTCH, a collaboration platform. The programs offer expert mentoring, joint business development, participation in domestic and overseas trade shows, and help in attracting investment. The plan is to combine the company's AI technology, infrastructure and marketing capabilities with the technology and ideas of startups to create new businesses. SK Telecom has also set a goal of nurturing 500 innovative companies over the five years through 2030.

"Startups are important partners for SK Telecom in creating new business opportunities and success stories together in the AI era," Chung said. "We will connect each other's strengths and expand partnerships that can create real growth."