Investment in Other Companies

4 Dec 2007 08:50

Investment Report 1. Issuing Company Company Hanaro Telecom, Representative Byung-Moo Name Inc. Director Park Capital Won Relationship -- Amount 1,175,045,435,500 with the Company Total Business Telecommunication Number Type and Others of Shares Issued 235,009,087 2. Acquisition Acquired Shares 91,406,249 Acquisition Amount(Won) 1,087,734,363,100 Equity Capital (Won) 9,291,426,779,000 Equity Capital Ratio (%) 11.71 Classification Large Scale Corporation 3. Number and Ratio of Shares Owned after Number of Shares Owned 102,451,249 Acquisition Ratio(%) 43.59 4. Method of Acquisition Cash acquisition 5. Purpose of Acquisition Management participation and business diversification 6. Date of Planned Acquisition -- 7. Asset Transfer Report Not required to submit Total Assets as of the End of the Most Acquisition Recent Fiscal Year Price / (Won) 15,814,053,326,000 Total Assets (%) 6.88 8. Backdoor Listing Not applicable Plans to Increase Capital through Allotment of New Shares to a Third Party within Six Months Not applicable 9. Requirements for Backdoor Listing Not applicable 10. Date of Board November 30, 2007 Resolution -- Attendance of Outside Attendees 6 Directors Absentees 2 -- Attendance of Audit Committee Member -- 11. Reporting Obligations to Fair Trade Commission Not applicable

12. Other Relevant Information for Investment Decision

Please note that the acquisition may not be consummated as described above or

at all if the conditions precedent in the acquisition agreement are not

satisfied or if any approvals or licenses from relevant government bodies are

not received.

[Summary Financial Status of the Issuing Company](Unit: in million Won) Total Total Total Shareholders' Equity Classification Assets Liabilities Equity Capital Revenue Net Income 2006 2,854,455 1,361,279 1,493,166 1,161,229 1,723,346 (86,047) 2005 2,980,101 1,412,514 1,567,587 2,310,676 1,444,411 (208,839) 2004 3,172,434 1,424,220 1,748,213 2,310,676 1,436,485 10,493

Forward-Looking Statement Disclaimer

The material above contains forward-looking statements. Statements that are nothistorical facts, including statements about our beliefs and expectations, areforward-looking statements. These statements are based on current plans,estimates and projections, and therefore you should not place undue reliance onthem. Such forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause our actual results orperformance to be materially different from any future results or performanceexpressed or implied by such forward-looking statements. We do not make anyrepresentation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein, and nothing contained hereinis, or shall be relied upon as, a promise or representation, whether as to thepast or the future. Forward-looking statements speak only as of the date theyare made, and we undertake no obligation to update publicly any of them inlight of new information or future events. Additional information concerningthese and other risk factors are contained in our latest annual report on Form20-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 PresidentDate: December 3, 2007