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KRX:017670

6 stories mentioning KRX:017670

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Asia

South Korean Shares Plunge Amid Over AI-Led Investment Worries, Possible US Fed Rate Hikes

South Korean shares tanked on Monday as investors offloaded stocks amid renewed concerns over the profitability of AI-led investments and fears that the U.S. Federal Reserve could adopt a more hawkish monetary policy stance due to a better-than-expected U.S. jobs report for May.The Korea Composite Stock Price Index or Kospi fell 676.18 points, or 8.3%, to end at 7,484.41. The Kosdaq also decreased by 91.05 points, or 9.1%, to close at 911.39.The Korea Exchange activated a five-minute sell-side sidecar on the country's primary and secondary stock markets on Monday morning as concerns rose over the semiconductor sector, and investor sentiment was dragged down by fears of further interest rate hikes after the U.S.'s better-than-expected jobs data.A sell-side sidecar is activated when the KOSPI200 Futures index or the KOSDAQ150 futures decline 5% or more for at least one minute.In corporate news, SK Group subsidiaries SK Hynix (KRX:000660) and SK Telecom (KRX:017670) unveiled separate partnerships with U.S. chip giant Nvidia to support AI infrastructure expansion and next-generation memory development.Meanwhile, SK Hynix signed a multi-year technology partnership with Nvidia to develop next-generation memory solutions. Shares of SK Hynix fell over 7% at market close.

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Nvidia Strikes Partnerships With South Korea's SK Hynix, SK Telecom, Naver
US Markets

Nvidia Strikes Partnerships With South Korea's SK Hynix, SK Telecom, Naver

Nvidia has signed a trio of technology partnerships with South Korean tech companies SK Hynix (KRX:000660), SK Telecom (KRX:017670) and Naver (KRX:035420), according to press releases from the US chip giant on Sunday.The partnerships position South Korea as a major hub for Nvidia's AI infrastructure.Under a new multiyear hardware agreement, Nvidia and SK Hynix will co-develop advanced memory for Nvidia's AI supercomputers, including its upcoming Vera Rubin platform.The new Vera CPU, which handles central processing workloads for the Rubin architecture, is currently in full production. Nvidia CEO Jensen Huang told Bloomberg News that systems built on the new architecture are scheduled to begin shipping in the third quarter.The collaboration will also focus on producing custom memory for Nvidia's Jetson Thor robotic computing platforms.As part of the deal, the South Korean chipmaker, a rival to Samsung Electronics (KRX:005930) and Micron Technology, gains access to Nvidia software suites like PhysicsNeMo and Omniverse. SK Hynix plans to integrate these tools into its in-house simulation codes and 3D visualizations to build "digital twins" of its manufacturing facilities, optimizing autonomous fab operations and the movement of mobile robots.Nvidia has also partnered with SK Telecom to deploy the full-stack Nvidia DSX platform.The agreement aims to build a gigawatt-scale AI Cloud in South Korea, with the first AI data center scheduled to go online by 2027. This infrastructure will provide GPU-based cloud computing tailored to support sovereign, physical, and agentic AI workloads for enterprises across Korea, with plans to expand to Asia."Telecom networks are becoming national AI infrastructure," said Huang. "They connect people, companies, devices and machines - and now they can become the backbone of new AI clouds."Separately, Nvidia also teamed up with Naver to expand sovereign AI infrastructure, starting at 55 megawatts with plans to move to gigawatt scale using the DSX platform.Naver will leverage Nvidia's open model Nemotron 3 Ultra to further scale its HyperCLOVA X model for enterprise use.Naver will also deploy the Nvidia Cosmos platform to accelerate its "Seoul World Model," which uses real-world Korean spatial data to train autonomous driving systems.While the exact financial terms of these collaborations were not disclosed, Reuters reported that the hardware partnership with SK Hynix will run for at least two years, with an option to extend, following high-profile meetings between Jensen Huang, SK Group Chairman Chey Tae-won, and Naver founder Lee Hae-jin.In Seoul trading at midday on Monday, SK Hynix's shares fell nearly 2%, Naver jumped almost 14%, while SK Telecom rose nearly 7%.

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Asia

SK Group Units Partner With Nvidia on AI Infrastructure, Memory Development

SK Group subsidiaries SK Hynix (KRX:000660) and SK Telecom (KRX:017670) unveiled separate partnerships with U.S. chip giant Nvidia to support AI infrastructure expansion and next-generation memory development.SK Telecom plans to build a gigawatt-scale AI cloud in South Korea using Nvidia's DSX platform, with the first AI factory expected to begin operations next year, Nvidia said in a press release.The AI cloud will deliver sovereign, physical and agentic AI services to enterprises and industries nationwide, leveraging SK Telecom's network, data center and enterprise infrastructure capabilities.Meanwhile, SK Hynix signed a multi-year technology partnership with Nvidia to develop next-generation memory solutions.The agreement is intended to help secure supplies of advanced memory needed to support the expansion of AI factories worldwide while addressing the long development timelines and significant investments required for production, Nvidia said in a separate release.Shares of SK Telecom rose nearly 2%, while those of SK Hynix fell over 5% in Monday morning trade.

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Asia

Nomura Adjusts SK Telecom's Price Target to KRW89,000 From KRW51,000, Keeps at Neutral

SK Telecom (KRX:017670) has an average rating of overweight and mean price target of 91,312.50 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

KRX:017670
US Markets

SK Telecom's Q1 Profit Falls Amid Data Breach

SK Telecom's (KRX:017670) attributable profit declined during the first quarter amid the effects of a data breach in the previous year.South Korea's largest wireless telecommunications operator posted net attributable profit of 322.4 billion won, down 11.5% from 364.4 billion won a year earlier, according to a Thursday filing with the Korea Exchange.Basic earnings per share slid to 1,490 won during the quarter from 1,689 won in the year-ago period. Analysts at Visible Alpha estimated diluted earnings per share at 1,297.15 won.Operating revenue slipped 1.4% year over year to 4.392 trillion won from 4.454 trillion won.Mobile service revenue declined 3% to 2.581 trillion won from 2.662 trillion won.Despite the fallout from the data breach in the first quarter of 2025, which led to the loss of about 600,000 subscribers during the period following a cyberattack on its main servers, the telco gained 210,000 handset subscribers in the first three months of 2026.SK Telecom also expanded membership benefits and restructured rates to win more subscribers, it said."These results are attributable to the company's commitment to placing customers at the core of its business and implementing a range of measures to strengthen fundamental competitiveness," SK Telecom said in a press release on Thursday.Broadband revenue grew 3.2% year over year to 1.150 trillion won from 1.114 trillion won as the number of high-speed internet subscribers grew.Artificial intelligence data center revenue surged 89% year over year to 131.4 billion won from 69.4 billion won on higher use rates of its data centers and better revenue contribution from its GPU-as-a-service segment.Operating expenses slipped year over year to 3.855 trillion won from 3.886 trillion won.Capital expenditure jumped 29% to 136.5 billion won from 106 billion won."Going forward, we will make every effort to restore our earnings by generating sustained results," Chief Financial Officer Park Jong-seok said in a statement.SK Telecom's shares declined over 2% in Thursday afternoon trade.

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Asia

SK Telecom's Net Attributable Income Falls 12.5% in Q1

SK Telecom (KRX:017670) posted first-quarter net income attributable to shareholders of 322.4 billion won, down 12.5% from 364.4 billion won a year earlier, according to a Thursday filing with the Korea Exchange.The South Korean telecommunications firm's sales fell 1.4% year over year to 4.392 trillion won from 4.454 trillion won.Shares of SK Telecom declined over 2% in recent trade.

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