1934 Act Registration No. 1-14418
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF OCTOBER 2004
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SK TELECOM CO., LTD.
(Translation of registrant's name into English)
99, Seorin-dong
Jongro-gu
Seoul, Korea
(Address of principal executive offices)
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(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F [X] Form 40-F [ ]
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes [ ] No [X]
(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):82- .)
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This report on Form 6-K shall be deemed to be incorporated by reference in
the prospectuses included in Registration Statements on Form F-3 (File Nos.
333-91034 and 333-99073) filed with the Securities and Exchange Commission and
to be a part thereof from the date on which this report is filed, to the extent
not superseded by documents or reports subsequently filed or furnished.
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THE BOARD OF DIRECTORS RESOLVES TO EXTEND THE TERM OF TRUST FUNDS FOR TREASURY
STOCK
On September 24, 2004, the board of directors of SK Telecom Co., Ltd. ("SK
Telecom") resolved to extend for three years the term of the trust funds for
treasury stock that had been established with four Korean banks. The details of
such special money trusts in respect of each of the four banks are as follows:
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DATE OF
ESTABLISHMENT NAME OF BANK TRUST AMOUNT NUMBER OF STOCKS MATURITY DATE NOTE
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10.26.2001 Shinhan Bank 311,200 1,242,120 10.25.2007 extended on 10.26.2004
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10.26.2001 Hana Bank 320,000 1,277,410 10.25.2007 extended on 10.26.2004
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10.29.2001 Chohung Bank 175,300 683,180 10.28.2007 extended on 10.29.2004
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10.29.2001 Korea Exchange Bank 175,500 684,000 10.28.2007 extended on 10.29.2004
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Total 982,000 3,886,710 -
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(As of September 30, 2004 in millions of Won)
THE BOARD OF DIRECTORS APPROVED TRANSACTIONS WITH TU MEDIA CORP., AN AFFILIATE
OF SK TELECOM
On December 22, 2004, the board of directors of SK Telecom approved the
following two transactions with TU Media Corp., one of its affiliates:
1. Contract on the Use of Satellite Services
o By entering into the contract, TU Media Corp. will be entitled to use
the satellite for satellite digital media broadcasting and the
satellite orbit and frequency that have been assigned by the Korean
government to SK Telecom
o The period of the contract commences on the date on which commercial
satellite digital media broadcasting services begin and ends on
December 31, 2007.
o Although the contract amount as approved by the board of directors is
Won 30.7 billion, as such amount has been calculated based on the
minimum expected revenue to be generated from the anticipated number
of subscribers to the satellite digital media broadcasting service
through the year of 2007, the actual revenue may be higher than such
contract amount depending upon the actual number of subscribers.
2. Satellite Consignment Operation Contract
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o Under the Contract, SK Telecom will consign its satellite for
satellite digital media broadcasting to TU Media Corp. so that TU
Media Corp. will operate such satellite.
o The period of the contract commences on the date on which commercial
satellite digital media broadcasting services begin and ends on
December 31, 2016.
o Although the contract amount as approved by the board of the directors
is Won 12 billion, as such amount is the maximum anticipated amount to
be paid by SK Telecom to TU Media Corp. in consideration of the
management and other services to be provided by TU Media Corp., the
actual payment amount may be lower than the approved amount.
PURCHASE OF ASSETS OF SK LIFE INSURANCE CO., LTD.
SK Telecom's board of directors resolved on October 22, 2004 to purchase certain
land and building (including incidental movables) of SK Life Insurance Co., Ltd.
accounting for 693,783 square feet for an amount of Won 30 billion in order to
secure stable training facilities to enhance expertise and leadership of SK
Telecom's employees as required by its campaign of New Value Management.
CAPITAL INVESTMENT IN SLD TELECOM PTE. LTD.
SK Telecom has decided to participate in the capital increase of SLD Telecom
PTE. Ltd. and contribute Won 36,845,000,000, which will result in an increase in
the total investment amount by SK Telecom to Won 95,435,276,673. Upon completion
of participation by LG Electronics Inc. and DongAh Elecomm Inc. in such capital
increase, SK Telecom's share in SLD Telecom PTE. Ltd. will become 55.1%.
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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.
By: /s/ Sung Hae Cho
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Name: Sung Hae Cho
Title: Vice President
Date: October 28, 2004
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