SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF MAY 2007

SK Telecom Co., Ltd.

11, Euljiro2-ga, Jung-gu

Seoul 100-999, Korea

(Address of principal executive offices)

     (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F þ                                         Form 40-F o

     Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):                     

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):                     

     Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

     Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes o    No þ

     If “Yes” is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-                    

 

 

Estimated Results of Operations (Fair Disclosure)

*The following information is based on preliminary estimates and may differ from our actual results of operations.

1. Results of Operations

												Increase								Increase
												(Decrease)								(Decrease)
												percentage for								percentage for
				1st Quarter				4th Quarter				1Q 2007 versus				1st Quarter				1Q 2007 versus
(Unit: Million KRW, %)				2007				2006				4Q 2006				2006				1Q 2006
Operating Revenue		For the quarter			2,711,731				2,759,776				(1.74	)			2,540,314				6.75
		Cumulative			2,711,731				10,650,952				—				2,540,314				6.75
Operating Income		For the quarter			661,984				538,860				22.85				667,861				(0.88	)
		Cumulative			661,984				2,584,370				—				667,861				(0.88	)
Ordinary Income		For the quarter			563,792				371,006				51.96				478,276				17.88
		Cumulative			563,792				2,021,643				—				478,276				17.88
Net Income		For the quarter			396,310				279,298				41.90				337,160				17.54
		Cumulative			396,310				1,446,598				—				337,160				17.54
2. Prior disclosure of information		Information provider						SK Telecom IR Department
		Audience						Investment analysts and institutional investors
		Date of disclosure						4:00 p.m., April 26, 2007
		Event (place)						Conference call on 1Q 2007 results
								(SK Telecom headquarters conference room)
3. Contacts		Responsible officer						Tae Jin Park, Head of IR Department
		(telephone number)						(6100-2400)
		Primary contact						Jinmo Kim, Manager, IR Department
		(telephone number)						(6100-1620)
		Relevant department						IR Department
4. Other Relevant Information								•     Please refer to the attached “Results for the Quarter Ended March 31, 2007” for details regarding our estimated results of operations.
								•     The content of the conference call will be broadcast in real-time on our company web site (www.sktelecom.com).
								•     The amount of ordinary income stated above is the income before income taxes, based on the changes to applicable accounting standards.

April 26, 2007

Results for the Quarter
Ended March 31, 2007

* Korean GAAP, Non-Audited

Seoul, Korea, April 26, 2007 – SK Telecom Co., Ltd. (KSE: 017670, NYSE: SKM) (“SKT” or “the Company”), the leading wireless telecommunications company in Korea, today announced the results of its operations for the quarter ended March 31, 2007.

This material contains forward-looking statements with respect to the financial condition, results of operations and business of SK Telecom and plans and objectives of the management of SK Telecom. Statements that are not historical facts, including statements about SK Telecom’s beliefs and expectations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of SK Telecom to be materially different from any future results or performance expressed or implied by such forward-looking statements. SK Telecom does not make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained in this management presentation, and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future.

Such forward-looking statements were based on current plans, estimates and projections of SK Telecom and the political and economic environment in which SK Telecom will operate in the future, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and SK Telecom undertakes no obligation to update publicly any of them in light of new information or future events. Additional information concerning these and other risk factors are contained in SK Telecom’s latest annual report on Form 20-F and in SK Telecom’s other filings with the U.S. Securities and Exchange Commission (SEC).

Contents
I. Financial Highlights			1
II. Financial Results			2
1. Income Statement
2. Capital Expenditure
3. Balance Sheet
III. Operating Result			6
IV. Appendix (Financial Statements)			7
V. IR Contacts			9

I. Financial Highlights

l Summary of Income Statement

(KRW bn)		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Operating revenue			2,712				2,540				7	%			2,712				2,760				-2	%
Operating expenses			2,050				1,872				9	%			2,050				2,221				-8	%
Operating income			662				668				-1	%			662				539				23	%
Operating margin			24.4	%			26.3	%			-1.9	%p			24.4	%			19.5	%			4.9	%p
Other income			66				78				-15	%			66				117				-43	%
Other expenses			165				268				-39	%			165				285				-42	%
Ordinary income			564				478				18	%			564				371				52	%
Net income			396				337				18	%			396				279				42	%
Net margin			14.6	%			13.3	%			1.3	%p			14.6	%			10.1	%			4.5	%p
EBITDA 1)			1,054				1,029				2	%			1,054				1,030				2	%
EBITDA margin			38.9	%			40.5	%			-1.6	%p			38.9	%			37.3	%			1.5	%p

1)		EBITDA = Operating income + Depreciation (including R&D related depreciation)

l Other Main Items

(KRW bn)		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Wireless Internet sales			677				663				2	%			677				725				-7	%
% of Cellular revenue			27.6	%			28.7	%			-1.1	%p			27.6	%			29.1	%			-1.5	%p
Marketing expenses			587				440				33	%			587				635				-8	%
- Marketing commissions			536				383				40	%			536				541				-1	%
- Advertising			51				57				-11	%			51				95				-46	%
% of Revenue			21.6	%			17.3	%			4.3	%p			21.6	%			23.0	%			-1.4	%p
Capital expenditure			292				84				249	%			292				798				-63	%
% of Revenue			10.8	%			3.3	%			7.5	%p			10.8	%			28.9	%			-18.1	%p
Interest-bearing debt			2,986				3,127				-5	%			2,986				2,978				0	%
Debt/Equity ratio			31.8	%			38.5	%			-6.8	%p			31.8	%			32.0	%			-0.2	%p

II. Financial Results

1. Income Statement

A. Operating revenue

(KRW bn)		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Sign-up fees			95				66				43	%			95				71				35	%
Monthly fees			714				657				9	%			714				694				3	%
Call charges			900				866				4	%			900				937				-4	%
VAS & others			67				57				17	%			67				62				8	%
Wireless Internet sales			677				663				2	%			677				725				-7	%
% of Cellular service			27.6	%			28.7	%			-1.1	%p			27.6	%			29.1	%			-1.5	%p
Total cellular service			2,453				2,311				6	%			2,453				2,489				-1	%
Interconnection revenue			259				230				13	%			259				271				-4	%
L ->M			107				99				8	%			107				109				-2	%
M ->M			152				131				16	%			152				162				-6	%
Operating revenue			2,712				2,540				7	%			2,712				2,760				-2	%

1)

Sign-up fees

-

The YoY and QoQ increase was due to increase in the number of new subscribers.

2)

Monthly fees

-

The YoY and QoQ increase was due to increase in average number of subscribers and increased number of premium monthly fee plan membership.

3)

Call charges

	-		The YoY increase was mainly due to increase in average number of subscribers.
	-		The QoQ decrease was mainly due to decrease in MOU from the seasonal effect.

4)

VAS & others

-

The YoY and QoQ increase was mainly due to increase in roaming service revenue.

5)

Wireless Internet sales

	-		The YoY increase was due to increase in 1) the number of data flat rate subscribers and 2) phone mail revenue driven by introduction of more contract-based SMS usage tariff plans, despite data tariff cut and suspension of adult contents.
	-		The QoQ decrease was due to data tariff cut and seasonal effect.

6)

Interconnection revenue

	-		The YoY increase was mainly due to interconnection rate adjustment in ‘06 3Q and increase in traffic volume from increased number of subscribers.
	-		The QoQ decrease was mainly due to decrease in traffic volume from the seasonal effect.

B. Operating expenses

(KRW bn)		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Labor cost			170				171				-1	%			170				92				85	%
Commissions paid			878				716				23	%			878				919				-4	%
Marketing commissions			536				383				40	%			536				541				-1	%
Initial commissions			355				192				85	%			355				302				18	%
Monthly commissions			83				84				-1	%			83				81				3	%
Retention commissions			98				107				-9	%			98				158				-38	%
Other commissions			342				334				3	%			342				378				-9	%
Advertising			51				57				-11	%			51				95				-46	%
Depreciation1)			392				361				9	%			392				492				-20	%
Network interconnection			233				235				-1	%			233				244				-4	%
M -> M			183				189				-3	%			183				194				-6	%
M -> L			51				46				9	%			51				49				3	%
Leased line			98				99				-1	%			98				98				0	%
Others2)			227				232				-2	%			227				282				-19	%
Operating expenses			2,050				1,872				9	%			2,050				2,221				-8	%

1)		Includes R&D related depreciation
2)		For details, please refer to non-consolidated statements of income in appendix

1)

Labor cost

-

The QoQ increase in labor cost was due to incentive bonus payment.

2)

Commissions paid

-

Marketing commissions:

			The YoY increase in Marketing commissions was mainly due to higher initial commissions as a result of handset subsidy introduction which started from March 27th 2006.
			The QoQ decrease was mainly due to the fall in retention commissions as the number of subscribers who received retention commissions decreased.

-

Other commissions:

The QoQ decrease was mainly due to lower content provider commissions as a result of decrease in content usage revenue from seasonal effect.

3)

Advertising cost

-

The QoQ decrease was mainly due to the fact that there were new ‘T’ brand-related advertising cost and year-end events in 4Q ‘06.

4)

Depreciation

	-		The YoY increase resulted from the increase in depreciable assets as a result of nationwide WCDMA network roll-out.
	-		The QoQ decrease resulted from the lower CapEx spending in 1Q ‘07 compared to CapEx spending in 4Q ‘06.

5)

Network interconnection cost

	-		The YoY decrease was due to adjustment in interconnection rate which was done in ‘06 3Q despite the increase in MM-related call traffic.
	-		The QoQ decrease was due to seasonal decrease in call traffic and the difference between interconnection rate in 2006 and that of 2007.

C. Non-operating items

(KRW bn)		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Other income			66				78				-15	%			66				117				-43	%
Interest income			17				19				-12	%			17				19				-13	%
Equity in earnings of affiliates			5				16				-71	%			5				35				-87	%
Others1)			45				43				5	%			45				62				-28	%
Other expenses			165				268				-39	%			165				285				-42	%
Interest			55				58				-6	%			55				59				-8	%
Equity in losses of affiliates			50				24				105	%			50				100				-50	%
R&D contribution & donations			36				34				7	%			36				77				-53	%
Others1)			24				152				-84	%			24				49				-50	%

1)		For details, please refer to non-consolidated statements of income in appendix

1)

Interest Income / Expense

	-		The YoY and QoQ decrease in interest income was mainly due to decrease in average balance of cash.
	-		The YoY and QoQ decrease in interest expense was mainly due to decrease in average balance of debts.

2)

Equity in Net losses of affiliates

	-		The YoY increase was largely due to increased losses from some of the SK Telecom affiliates such as HELIO and others.
	-		The QoQ decrease was mainly due to relatively higher losses incurred in 4Q ‘06, which included losses from Pantech.

3)

Others in Non-Operating Income / Expenses

	-		The QoQ decrease in others in non-operating income was mainly due to relatively higher gains on the disposal of investment assets including WiderThan.Com in 4Q ‘06.
	-		The YoY decrease in others in non-operating expenses was mainly due to the one-off payment regarding the change in retirement allowance scheme in 1Q ‘06.

2. Capital Expenditure

(KRW bn)		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Network			263				56				365	%			263				561				-53	%
HSDPA			246				42				483	%			246				377				-35	%
Wibro			5				—				N/A				5				36				-86	%
CDMA			3				14				-79	%			3				66				-96	%
Others			9				—				N/A				9				82				-89	%
Non-Network			29				27				7	%			29				237				-88	%
R&D			2				5				-58	%			2				80				-97	%
Data Biz. & Marketing			14				11				24	%			14				115				-88	%
Others			13				11				21	%			13				42				-69	%
Total CapEx			292				84				249	%			292				798				-63	%

3. Balance Sheet

(KRW bn)		2007. 3				2006. 3				Change				2007. 3				2006. 12				Change
Total assets			15,829				14,386				10	%			15,829				15,814				0	%
Current assets			4,034				4,011				1	%			4,034				4,189				-4	%
Cash & marketable securities			1,040				1,004				4	%			1,040				968				7	%
Investment assets			4,089				2,667				53	%			4,089				3,801				8	%
Property & equipment			4,391				4,399				0	%			4,391				4,418				-1	%
Intangible assets			3,315				3,309				0	%			3,315				3,405				-3	%
Total liabilities			6,424				6,266				3	%			6,424				6,508				-1	%
Current liabilities			3,239				2,850				14	%			3,239				2,986				8	%
Short-term borrowings			—				—				N/A				—				—				N/A
Current portion of long-term debt1)			1,105				898				23	%			1,105				795				39	%
Long-term liabilities			3,185				3,416				-7	%			3,185				3,522				-10	%
Bond payable & long-term borrowings			1,983				2,317				-14	%			1,983				2,273				-13	%
Total shareholders’ equity			9,405				8,120				16	%			9,405				9,306				1	%
Debt/Equity ratio2)			31.8	%			38.5	%			-6.8	%p			31.8	%			32.0	%			-0.2	%p

1)		Includes current portion of long-term payables related to payment of WCDMA license fee (KRW 90 bn in 2006, KRW 110 bn in 2007).
2)		Debt/Equity Ratio = Interest-bearing financial debt / Shareholders’ equity
*		Interest-bearing financial debt = Short-term borrowings+Current portion of long-term borrowings+Corporate bonds &long-term borrowings

1)

Investment assets

-

The YoY and QoQ increase was due to the purchase of China Unicom’s CB (in July 2006) and valuation gain from investment securities including POSCO and China Unicom CB.

2)

Total shareholder’s equity

	-		The YoY increase was due to increase in earnings and valuation gains from investment securities including POSCO and China Unicom CB.
	-		Despite the decrease in retained earnings from dividend payout, total shareholder’s equity increased QoQ due to the increase in earnings and valuation gains from investment securities.

3)

Total liabilities

-

Debt to Equity ratio decreased mainly due to debt payment and increase in shareholders’ equity.

III. Operating Result

		Q1. ’07				Q1. ’06				Change				Q1. ’07				Q4. ’06				Change
Subscribers (‘000)			20,733				19,733				5	%			20,733				20,271				2	%
Net adds			462				203				128	%			462				239				93	%
Activations			2,052				1,445				42	%			2,052				1,523				35	%
Deactivations			1,591				1,242				28	%			1,591				1,283				24	%
Monthly churn rate			2.6	%			2.1	%			0.5	%p			2.6	%			2.1	%			0.4	%p
Average subscribers(‘000)			20,477				19,631				4	%			20,477				20,158				2	%
ARPU (KRW)			44,142				43,135				2	%			44,142				45,635				-3	%
Sign-up fee			1,550				1,129				37	%			1,550				1,169				33	%
Monthly fee & call charge			26,270				25,876				2	%			26,270				26,968				-3	%
VAS & others			1,091				972				12	%			1,091				1,027				6	%
Wireless Internet			11,018				11,261				-2	%			11,018				11,993				-8	%
Interconnection			4,214				3,898				8	%			4,214				4,479				-6	%
MOU (Minutes)
Outgoing			193 1	)			194				-1	%			193 1	)			205				-6	%
Incoming			107 1	)			109				-2	%			107 1	)			110				-3	%

1)		MOU for February and March of 2007 is an estimate.

IV. Appendix (Non-Consolidated Statements of Income)

(KRW mn)		Q1. '07				Q1. '06				Change				Q1. '07				Q4. '06				Change
Operating revenue			2,711,731				2,540,314				171,417				2,711,731				2,759,776				(48,045	)
Operating expenses			2,049,747				1,872,452				177,294				2,049,747				2,220,916				(171,170	)
Labor cost 1)			169,730				170,945				(1,214	)			169,730				91,656				78,075
Commissions paid			878,284				716,285				162,000				878,284				918,764				(40,480	)
Advertising			50,953				57,486				(6,533	)			50,953				94,714				(43,761	)
Depreciation 2)			392,341				361,146				31,195				392,341				491,559				(99,218	)
Network interconnection			233,270				235,447				(2,177	)			233,270				243,662				(10,392	)
Leased line			97,788				98,743				(955	)			97,788				98,163				(375	)
Rent			46,314				47,588				(1,274	)			46,314				52,289				(5,975	)
Frequency usage fees			41,020				38,400				2,621				41,020				40,474				546
Bad debt			12,279				17,359				(5,080	)			12,279				17,683				(5,404	)
Others			127,767				129,055				(1,288	)			127,767				171,952				(44,185	)
Operating income			661,984				667,861				(5,877	)			661,984				538,860				123,125
Other income			66,398				78,433				(12,036	)			66,398				117,018				(50,621	)
Interest income			16,771				19,095				(2,324	)			16,771				19,349				(2,577	)
Equity in earnings of affiliates			4,679				16,417				(11,738	)			4,679				35,313				(30,634	)
Dividend income			14,893				15,007				(114	)			14,893				6				14,886
Foreign exchange & translation gains			275				669				(395	)			275				412				(137	)
Others			29,780				27,245				2,535				29,780				61,938				(32,158	)
Other expenses			164,590				268,018				(103,428	)			164,590				284,872				(120,282	)
Interest			54,520				57,783				(3,264	)			54,520				59,000				(4,481	)
R&D contribution & donations			36,062				33,725				2,337				36,062				76,877				(40,815	)
Equity in losses of affiliates			49,716				24,203				25,512				49,716				100,055				(50,339	)
Foreign exchange & translation losses			306				880				(574	)			306				233				73
Loss on impairment of investment securities			—				—				—				—				27,344				(27,344	)
Loss on disposal of investment assets, & property/equipment			1,280				1,614				(335	)			1,280				1,680				(400	)
Others			22,707				149,812				(127,105	)			22,707				19,682				3,024
Ordinary income			563,792				478,276				85,516				563,792				371,006				192,786
Income before income taxes			563,792				478,318				85,473				563,792				371,006				192,786
Income taxes			167,481				141,158				26,323				167,481				91,708				75,773
Net income			396,310				337,160				59,151				396,310				279,298				117,012

1)		Includes salary, severance pay and other benefits
2)		Includes R&D related depreciation

IV. Appendix (Non-Consolidated Balance Sheets)

(KRW mn)		2007. 3				2006. 3				Change				2007. 3				2006. 12				Change
Total assets			15,829,253				14,386,210				1,443,043				15,829,253				15,814,053				15,200
Current assets			4,033,638				4,011,460				22,178				4,033,638				4,189,325				(155,688	)
Cash and marketable securities1)			1,039,972				1,003,506				36,466				1,039,972				968,353				71,619
Accounts receivable — trade			1,576,545				1,530,906				45,639				1,576,545				1,700,650				(124,105	)
Accounts receivable — other			1,123,338				1,198,788				(75,449	)			1,123,338				1,257,244				(133,906	)
Short-term loans			75,710				66,020				9,691				75,710				61,967				13,743
Inventories			19,157				4,458				14,700				19,157				16,439				2,718
Other			198,916				207,784				(8,868	)			198,916				184,673				14,243
Investment assets			4,088,865				2,666,775				1,422,090				4,088,865				3,801,458				287,408
Investment securities2)			3,831,878				2,433,844				1,398,034				3,831,878				3,537,919				293,959
Long-term loans			14,728				12,300				2,428				14,728				12,828				1,899
Guarantee deposits			118,300				122,001				(3,701	)			118,300				120,006				(1,706	)
Other			123,960				98,630				25,329				123,960				130,705				(6,745	)
Property & equipment			4,391,357				4,399,170				(7,813	)			4,391,357				4,418,112				(26,755	)
Land			448,139				461,194				(13,055	)			448,139				462,393				(14,255	)
Building & fixture			1,087,458				1,131,977				(44,519	)			1,087,458				1,101,232				(13,774	)
Machinery			2,298,189				2,196,575				101,613				2,298,189				2,346,517				(48,328	)
Vehicles & others			382,451				297,457				84,994				382,451				377,303				5,148
Construction in progress			175,120				311,967				(136,847	)			175,120				130,667				44,453
Intangible assets			3,315,393				3,308,805				6,588				3,315,393				3,405,159				(89,765	)
Total liabilities			6,424,219				6,265,930				158,289				6,424,219				6,507,626				(83,407	)
Current liabilities			3,238,898				2,849,856				389,042				3,238,898				2,985,620				253,278
Short-term borrowings			—				—				—				—				—				—
Accounts payable			917,942				845,988				71,954				917,942				1,107,786				(189,845	)
Income taxes payable			524,078				385,328				138,750				524,078				331,496				192,582
Accrued expenses			354,632				369,040				(14,408	)			354,632				373,865				(19,233	)
Current portion of long-term debt			1,104,604				897,989				206,615				1,104,604				794,786				309,819
Other			337,642				351,512				(13,870	)			337,642				377,687				(40,045	)
Long-term liabilities			3,185,321				3,416,074				(230,752	)			3,185,321				3,522,006				(336,685	)
Bond payable&long-term borrowings			1,983,228				2,316,705				(333,477	)			1,983,228				2,273,476				(290,248	)
Facility deposits			20,462				23,046				(2,584	)			20,462				21,140				(678	)
Accrued severance indemnities			18,025				14,377				3,648				18,025				9,568				8,457
Others			1,163,606				1,061,945				101,661				1,163,606				1,217,822				(54,216	)
Total shareholders’ equity			9,405,034				8,120,280				1,284,754				9,405,034				9,306,428				98,606
Capital stock			44,639				44,639				—				44,639				44,639				—
Capital surplus			2,965,945				2,966,198				(252	)			2,965,945				2,962,699				3,247
Retained earnings			7,732,391				7,018,106				714,285				7,732,391				7,844,753				(112,362	)
Capital adjustments			(1,337,942	)			(1,908,663	)			570,721				(1,337,942	)			(1,545,664	)			207,722
Treasury stock			(2,014,927	)			(2,047,105	)			32,178				(2,014,927	)			(2,014,927	)			—
Unrealized gain(loss) on valuation of investment securities			684,536				134,962				549,573				684,536				473,904				210,631
Stock options			—				3,480				(3,480	)			—				3,247				(3,247	)
Losses on sales of treasury stock			(7,550	)			—				(7,550	)			(7,550	)			(7,887	)			337

1)		Cash & marketable securities : Cash & cash equivalent, marketable securities & short-term financial instruments are included
2)		Investment securities : Investments in affiliates with more than 20% interest, listed companies & non-listed companies are included

V. IR Contacts

IR Office		Title		Telephone		Email
Young Chan Choi		Head of IR Team		02)6100-1631		ycchoe@sktelecom.com
Ho Sook Hwang		Manager		02)6100-1636		hhwang@sktelecom.com
Jun Kim		Manager		02)6100-1637		starish7@sktelecom.com

Thank you.

Forward-Looking Statement Disclaimer

The material above contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or performance to be materially different from any future results or performance expressed or implied by such forward-looking statements. We do not make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Additional information concerning these and other risk factors are contained in our latest annual report on Form 20-F and in our other filings with the U.S. Securities and Exchange Commission.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		SK Telecom Co., Ltd. (Registrant)
		By:		/s/ Tae Jin Park
		(Signature)
		Name:		Tae Jin Park
		Title:		Vice President

Date: May 4, 2007