SK Networks raises its stake in AI company SK Networks Upstage to 11.5% through an investment of approximately KRW 20 billion.

SK Networks decided through a board resolution on October 13, 2026 to make an additional investment of 36,428 shares (approximately KRW 20 billion) in affiliated company Upstage's Series C-2 investment round. Following completion of the investment, the stake is expected to increase to approximately 11.5% from the current level. The company aims through this investment to strengthen AI-related business capabilities and create business synergies.

1. 01

   SK Networks participates in the Series C-2 investment round of affiliated company Upstage.

2. 02

   Upstage is an AI systems developer with 2025 revenue of KRW 24.802 billion and a net loss of KRW 28.412 billion.

3. 03

   The board resolved on October 13, 2026, with 4 independent directors in attendance.

4. 04

   The investment aims to strengthen AI-related business capabilities and create business synergies.

An AI model translated the Korean summary of this filing into English; every number is carried over from the Korean original. Reference information, not investment advice.

Key figures

Shares acquired

36,428 shares

Acquisition amount

KRW 20 billion

Stake after acquisition

11.5%

Shares owned after acquisition

465,075 shares

Scheduled acquisition date

November 30, 2026

Filing facts

Filing type

Investment

Report name

Decision on Acquisition of Shares in Another Company (Voluntary)

Filed

Oct 13, 2026

Receipt number

20261013800573