May 2026
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Largest Telecom Service Providers Public Companies in South Korea
Benchmark revenue and EBITDA valuation multiples for public comps like
SK Telecom, KT, LG U+, Kinx and Hyundai Futurenet.
 | SK Telecom is South Korea's largest wireless telecom operator, with 32 million mobile customers. The firm also owns SK Broadband (formerly Hanaro Telecom), which has 7.2 million broadband customers and 9.5 million pay TV customers (6.7 million IPTV and 2.8 million Cable TV). While the firm also purchased stakes in businesses in security and semiconductor memory production as well as developing e-commerce and internet platform businesses, these were all spun off into the separate, SK Square business in November 2021. The company was formed after SK Group purchased KT’s mobile business in 1994. | $83 | +117% | $18B | $23B | 2.0x | 7.3x | ||
| KT is South Korea's largest fixed-line telecom operator, with around 11.5 million fixed-line broadband customers and 9.5 million IPTV customers, and is the second-largest wireless operator with 28 million subscribers. Additionally, it has a number of nontelecom businesses, including real estate, payment processing, artificial intelligence, and IDC/cloud services, many of which are the focus of its growth strategy. The company was formed from the previously government-owned, monopoly telecom business and was listed in 1998. After selling its mobile business in 1994 (forming its mobile competitor, SK Telecom), KT created its own mobile operator in 1997. | $18 | -12% | $9B | $12B | 0.6x | 2.8x | ||
| LG Uplus is a Korean telecommunications operator selling mobile and fixed-line products. It entered the Korean mobile market in 1996 as LG Telecom by acquiring a mobile license, then building out a mobile network. Parent company LG Corp. merged LG Telecom with LG Dacom and LG Powercom in 2010 to add fixed-line and internet capabilities to the existing mobile business and changed its name to LG Uplus that same year. The firm competes against KT and SK Telecom, which were formed from the previously state-owned monopoly, Korea Telecom. Given that KT and SKT had incumbent telecom businesses before LG Uplus started its business, LG Uplus has lower market shares than the other two in the key telecom services, but has gradually taken market share. | $11 | +11% | $5B | $8B | 0.7x | 3.2x | ||
| Kinx Inc is a Korea based carrier-neutral infrastructure provider. The company offers services to prominent domestic and international carriers, content providers, multiple system operators, financial institutions, and government agencies. | $75 | +13% | $362M | $368M | 3.5x | 10.7x | ||
| Hyundai Futurenet is a Pay-TV company. It provides Cable Broadcasting services, Broadband Internet, Digital Broadcasting, Internet Phone, Content distribution, and other related services. | $2 | -13% | $208M | $9M | 0.0x | 0.3x | ||
| ESTaid Corp is a South Korea based company engaged in providing internet and mobile services. | $1 | -- | $16M | $386K | 0.0x | (0.1x) | ||
| Median | $14 | +11% | $3B | $4B | 0.7x | 3.0x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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