Independent Auditors' Report

9 Mar 2007 07:00

Independent Auditors' Report On February 28, 2007, SK Telecom Co., Ltd. (the "Company") filed with theFinancial Supervisory Service of Korea the Korean-language IndependentAuditors' Report and the audited non-consolidated financial statements of theCompany for the fiscal year ended December 31, 2006. The Company and itsindependent auditors are currently preparing the English-language version ofthe Independent Auditors' Report and related non-consolidated audited financialstatements.1. Opinion of Independent Fiscal Year ended Fiscal Year ended Auditors and Details of December 31, 2006 December 31, 2005 Financial Statements a. Period Covered: January 1 to December January 1 to December 31, 2006 31, 2005b. Opinion of Independent Appropriate Appropriate Auditors: c. Details of Balance Sheets (Unit: Won) Total Assets 15,814,053,325,611 14,521,676,459,121 Total Liabilities 6,507,625,681,840 6,263,795,750,979 Total Stockholders' Equity 9,306,427,643,771 8,257,880,708,142 Capital Stock 44,639,473,000 44,639,473,000 * Total Stockholders' Equity/ 20,848.0 18,499.1 Capital Stock Ratio (%) d. Details of Statements of Income (Unit: Won) Operating Revenue 10,650,952,431,511 10,161,128,636,546 Operating Income 2,584,369,584,477 2,653,569,506,620 Ordinary Income 2,021,642,990,384 2,554,613,345,888 Net Income 1,446,597,938,159 1,871,380,090,020 2. Name of Independent Auditors Deloitte Anjin LLC 3. Date of the Independent Auditors' Report February 28, 2007 4. Other Relevant Matters The financial statements included in the Independent Auditors' Report and submitted to the Company by the independent auditors following its audit review remain subject to the approval of the Company's shareholders at the general meeting of shareholders and may be revised in the course of such approval process. Related Disclosure: -- 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 PresidentDate: March 8, 2007