Revised Guidance Regarding 2008 Capex

26 Aug 2008 07:00

* The following regards future plans and remains subject to change.

Subject: Revised guidance regarding expected 2008 capital expenditures. Details: An increase of approximately Korean Won 220 billion over previously reported 2008 capital expenditure guidance: Previous guidance: Approximately Korean Won 1.75 trillion Revised guidance: Approximately Korean Won 1.97 trillion Date of board of August 21, 2008 directors approval: Information released SK Telecom Co., Ltd. (the "Company"), IR Group by: Contacts: Person directly in charge of disclosure: Tae Jin Park - IR Group, Group Head (tel: 822 6100-2400) Primary contact regarding disclosure: Jinmo Kim - IR Group, Manager (tel: 822 6100-1620) Other: The above information may be subject to further updates and/or changes, including based on the Company's results of operations. \* This disclosure updates previous disclosure made to the Korea Exchange on January 31, 2008

Forward-Looking Statement Disclaimer

This disclosure contains "forward-looking statements" that are based on our current expectations, assumptions, estimates and projections about our company and our industry. The forward-looking statements are subject to various risks and uncertainties. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. We caution you that reliance on any forward-looking statement involves risks and uncertainties, and that although we believe that the assumptions on which our forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and, as a result, the forward-looking statements based on those assumptions could be incorrect. In light of these and other uncertainties, you should not conclude that we will necessarily achieve any plans and objectives or projected financial results referred to in any of the forward-looking statements. Forward-looking statements speak only as of the date they are made and we do not undertake to release the results of any revisions of these forward-looking statements to reflect future events or circumstances.

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: Senior Vice PresidentDate: August 25, 2008