1. Company Presentation http://www.sktelecom.com October 2000

2. 1 SK Telecom Table of Contents 1.Market Overview 2.Wireless data Market 3.Issues & Strategy 4.Investment Highlights

3. 2 SK Telecom Table of Contents Market Overview Market Overview Wireless data Market Wireless data Market Issues & Strategy Issues & Strategy Investment Highlights Investment Highlights

4. 3 SK Telecom Korean Cellular Penetration [%] Cellular Penetration surpassed Fixed line in Aug. 99 Cellular Fixed line

5. 4 SK Telecom (Unit: 1,000) SKT & STI’s Subscribers Cellular Market 14,644(56.4%) 7,774(29.9%) 3,557 (13.7%) SK Telecom&Shinsegi LG Telecom KT Freetel&KT M.com As of Sep 30, 2000 (thousand) Market Share

6. 5 SK Telecom Trend on Call Composition (%) Incoming call from PSTN Incoming call from PSTN Call between Mobile Operators Call between Mobile Operators Outgoing to PSTN Outgoing to PSTN The mobile is getting more independent from fixed lines The mobile is getting more independent from fixed lines Wireless displacing Fixed line

7. 6 SK Telecom SK Telecom’s Cellular Subscriber Trend (000) (%)

8. 7 SK Telecom SK Telecom’s ARPU Trend (Won) (*) Excluding Interconnection among Mobile operators

9. 8 SK Telecom Minutes of usage taking off (%) MOU(Min)

10. 9 SK Telecom Table of Contents Market Overview Market Overview Wireless data Market Wireless data Market Issues & Strategy Issues & Strategy Investment Highlights Investment Highlights

11. 10 SK Telecom Korean Internet/E-commerce market growth (Unit: Billion won) Korean E-commerce market Korean Internet Users (Unit: 1,000) Source: Ministry of Information & Communication Source: International Data Corporation

12. 11 SK Telecom n.Top performance (000)

13. 12 SK Telecom n.Top Growth potential (000)  Mobile Usage - Penetration levels > 50% - Penetration levels > 50% - Rapid adoption of new technology by Korean consumers - Rapid adoption of new technology by Korean consumers - Increased demand for information at “any time, any place” - Increased demand for information at “any time, any place”  Data Usage - High PC penetration - High PC penetration - Rapid internet growth - Rapid internet growth - Subscriber group is growing younger - Subscriber group is growing younger High growth potential in Korean wireless data market

14. 13 SK Telecom Humor, Short Stories, Horoscope Cyber Events, Horserace, Quiz, Lottery Info. Banking : Money transfer, balance check Credit card balance check, Stock Trading/Quotes E-Lottery, Insurance, Real estate Reservation/Ticketing, Shopping Mall, Travel Department Stores InfoNet BizNet EntertaiNetMyNet Email, Contacts, Scheduling, Anniversary Cyber Customer Center n.TOP Service Launched : 1 Dec.’99 Delivery technologies : WAP and online SMS Access to 6 networks Close interface with Web page (www.n-top.com) Location (Gas station, Banks/ATMs) News / Sports / Weather n.TOP community - Bulletin Board Movie / Theater / Video Search / Dictionary College Info. Picture mate, animation Downloading / Messaging Games (including interactive games) LoveLink, Fashion, Fan Clubs, Shopping Mall TTL n.TOP Business Information (Jobs, Tax, etc.) Trade Mobile Intranet Biz n.TOP

15. 14 SK Telecom n.TOP Usage Pattern & Trend Substantial increase in n.TOP WAP usage per sub Substantial increase in n.TOP WAP usage per sub - Double the Online-SMS Transaction Volume - Majority of new users use WAP based n.TOP Content Preference Content Preference TOP5 SMS Community 27% Humor 16% Word Game14%Quiz&Gifts 8% Loc. App. 6% WAP Picture Mate34% Chatting 14%Quiz Game 14%News/Humor 7% Casino 6%

16. 15 SK Telecom Table of Contents Market Overview Market Overview Wireless data Market Wireless data Market Issues & Strategy Issues & Strategy Investment Highlights Investment Highlights

17. 16 SK Telecom 3 3The company has to meet the government 50% market share conditions. We will undertake this task with careful consideration to company value. Marketing related actions l Reduced the advertising on television and completely stopped advertising on major newspapers l Much of the promotional services have been eliminated 1) suspended sales promotion for activation 2) reinforced the criteria for involuntary deactivation 3) abolished the installment payment system on initial subscription fee. l Reinforce the involuntary deactivation criteria Meeting FTC Conditions

18. 17 SK Telecom 3The IS-95C investment is essential to accommodate rapid growth in demand for wireless data service. Market Expectation l Due to handset subsidy ban, the number of IS-95C service users this year is expected to be rather low, but we expect the number to grow to about a million by the end of next year. l IS-95C system will be as competitive as IMT-2000 service in its data transmission speed by the time IMT-2000 service is scheduled to start in May, 2002. l Until the broad adoption of IMT-2000 service which is expected at 2005 or beyond, IS-95C can be a stepping stones to 3G service. Service Coverage Plan l 1st stage: 2000.10~12 23 cities in 7 major metropolitan area l 2nd stage: 2001.7 56 cities in the country l 3rd stage: 2002.1 all major highways IS-95C Service Launch

19. 18 SK Telecom 4Number of licenses expected is 3, and service starting date will be May, 2002 Forming a consortium was encouraged by the government. l Forming a consortium was encouraged by the government. No points for entities which apply for the licenses on their own. No points for entities which apply for the licenses on their own. l The consortium will be formed to minimize the dilution of the company value. company value. Consortium Licensing schedule l Application : October 2000 l Completion : December 2000 Technology Standard l The government wants at least one entity to adopt CDMA2000 as the standard. - Two Licenses for W-CDMA, one for CDMA 2000 l The company wants W-CDMA platform. Investment/IMT-2000

20. 19 SK Telecom Total amount 30% and no limit on investment per investor.. l Total amount 30% and no limit on investment per investor.. l The company intends to participate in the process. In the second round In the first round l SKT acquired 2% of the company stake at the price of 33,000 won per share Investment objective l To make savings in leased line expense l To assure price competitiveness in wireless internet business. l To secure reliable and dedicated network for IMT-2000 and wireless data service. l To compliment and increase usage of our existing back bone structure l Our ultimate aim is to have a reliable access to fixed line network which will compliment our growing wireless business Investment/Powercomm

21. 20 SK Telecom Integration with Shinsegi 4SK Telecom and Shinsegi will explore coordination and integration opportunities to maximize synergies l Network Roaming - Offer roaming service to STI subscribers in less populated areas by - Offer roaming service to STI subscribers in less populated areas by reprogramming their handsets from September of this year. reprogramming their handsets from September of this year. - From January 2001, SKT will start dismantling STI base stations. - From January 2001, SKT will start dismantling STI base stations. l l Co-investment - A single IS-95C infrastructure will be made between the two networks. - A single IS-95C infrastructure will be made between the two networks. Network Marketing Marketing coordination for branding, tariffs, handset policy, wireless data service and cross-marketing will be implemented Other Human resources policy will be coordinated to maximize the use of talents in both companies

22. 21 SK Telecom Table of Contents Market Overview Market Overview Wireless data Market Wireless data Market Issues & Strategy Issues & Strategy Investment Highlights Investment Highlights

23. 22 SK Telecom Investment Highlights Well positioned for wireless internet services Well positioned for wireless internet services  Successful launch of wireless data service and market segmentation strategy  Prior occupation for wireless data service by launching IS-95C The pre-eminent wireless operator The pre-eminent wireless operator  # 1 brand image and call quality  Highest quality subscriber (ARPU, MOU, Collection rate, etc) Weakened competitive environment Weakened competitive environment  Reduction in marketing expenses Extensive synergies to be realized from acquisition of STI Extensive synergies to be realized from acquisition of STI