SK Telecom’s stock plummeted by 8.5% on Monday, reaching its lowest point since August of the previous year, following the revelation of a customer data breach linked to a cyberattack earlier this month.
The leading mobile carrier in South Korea announced it would accept full responsibility for any damage resulting from the breach, which was identified on April 18.
SK Telecom characterized the event as a significant data leak caused by malware, though it did not disclose further specifics.
In response to the cybersecurity incident, SK Telecom will provide free universal subscriber identity module (USIM) replacements to all 23 million users at over 2,600 retail locations across the country starting Monday.
Additionally, SK Telecom encouraged customers to enroll in its USIM Protection Service, which offers similar protective measures as a USIM card replacement. As of Sunday, approximately 5.54 million individuals had registered for this service, representing nearly 25% of SK Telecom’s total subscriber base.
The company’s shares ultimately closed down 6.7%, marking the largest single-day decline since March 2020, while the benchmark KOSPI index rose by 0.1%.
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