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SK Telecom, a representative sport of’heavy hips’(270,000 +7.78%) The stock price jumped sharply, changing the highest price within a year. In addition to the stable earnings improvement, the growth potential of the subsidiary and 5G business division was highlighted, leading to an analysis that the buying trend was concentrated.
SK Telecom closed the transaction at 270,000 won, up 7.78%. The daily increase rate is the highest ever, surpassing 6.04% on March 4 last year. It is 11.5% left until the all-time high of 301,000 won (February 16, 2015).
In the meantime, telecom stocks were relatively marginalized as their growth potential was not recognized during the KOSPI index. SK Telecom did not get out of the box range of 230,000 to 240,000 won even while the KOSPI index rose from the 2400 line to the 2900 line in November-December.
However, on this day, foreigners and institutions took the lead in making net purchases. The reasons are complex. Earnings improvement and subsidiary growth were the materials that were already there. As the telecom division’s earnings recover, this year’s operating profit consensus (average of securities firms’ estimates) increased 12.3% from last year’s estimate to KRW 1.4409 billion. The value of subsidiaries such as 11st Street, SK Broadband, ADT Caps, and One Store are also rising.
In addition, expectations for 5G mobile communication (5G) have been added. At the end of last year, the Ministry of Science and ICT (Ministry of Science and Technology) decided to recognize network slicing, which is a core 5G technology, as an exception to network neutrality (the principle of indiscriminate content of communication service providers). Kim Hong-sik, researcher at Hana Financial Investment, explained, “Telecommunications companies can use 5G networks to reinforce B2B (business-to-business) business models. This is the completion of the institutional foundation for the Internet of Things (IoT) business that SK Telecom has emphasized.” did.
It has been confirmed that the expectations of SK Telecom’s spin-off, raised by some, have little evidence. An industry insider explained, “This is the reason for explaining the stock price surge, but there is no talk of the split method at all.” The division of human resources requires approval from the Ministry of Science and Technology as SK Telecom’s corporate form changes. The burden of passing the general shareholders meeting is also high. Controversy about increasing the majority shareholder’s stake may arise. It is pointed out that it is a burdensome option for a company.
Reporter Yoon Sang Ko [email protected]
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