SK Telecom (SKT), South Korea’s largest wireless carrier, has reported a 20 per cent drop in profits in the quarter ended June 2006. The company posted net profits of 373.3 billion won compared with 467.1 billion won a year ago. Though its revenue from wireless internet services rose by 13 per cent to 676 billion won in the quarter under review, the increase was offset by a 36 per cent rise in marketing costs. SKT’s subscriber base rose 4 per cent over the previous year to 19.98 million.
