The SK Telecom data breach has triggered an alarming customer exodus. Over 70,000 subscribers left the company in just two days. SK Telecom had offered free USIM card replacements, but the gesture failed to calm users. Many feared further risks, especially potential financial consequences. Industry sources say 35,902 users left on Tuesday, following 34,132 on Monday.
During the same period, SK Telecom only gained 11,991 new users, showing the scale of the damage. Most customers moved to KT, while others joined LG Uplus. Officials expect higher numbers when including those switching to smaller mobile carriers. An industry representative confirmed more users likely left than current data shows. The SK Telecom data breach continues to fuel mass departures.
CEO Ryu Young-sang admitted the cyberattack was the worst in telecom history. He made the statement during a National Assembly hearing on Wednesday. When questioned about the breach, he said it involved systems once thought unbreakable. He promised full USIM replacements within three months for all 25 million users. Ryu apologized and pledged to regain public trust.
Despite the fallout, Ryu stated SKT’s USIM Protection Service remains reliable. He added that both he and Chairman Chey Tae-won still use the service. However, concerns remain about the potential for further leaks beyond the three confirmed servers. Government and private experts continue joint investigations. The SK Telecom data breach remains under close review.
Financial regulators also responded swiftly to the crisis. The Financial Services Commission launched an emergency center to monitor related risks. Authorities held meetings with financial institutions to prepare protective measures. FSC Secretary-General Kwon Dae-young warned of risks to the elderly and other vulnerable groups. He stressed the need for stronger cybersecurity across financial networks.
So far, authorities found no signs of financial misuse. Yet concerns persist about the long-term impact on Korea’s telecom and banking sectors. Meanwhile, four SKT users filed a lawsuit seeking 10 million won each in damages. An online group organizing lawsuits now includes over 50,000 members. The SK Telecom data breach could lead to massive legal and regulatory costs.
Shinhan Securities estimated card replacement costs may reach 200 billion won. This figure assumes 4,000 won per card for all SKT users. Despite still leading in subscriber numbers, SK Telecom faces immense pressure. The company must act quickly to prevent deeper losses. For now, the SK Telecom data breach remains one of the nation’s biggest tech crises.
