Independent Auditors Report on Internal Control over
Financial Reporting
Based on a report originally issued in Korean
To the Board of Directors and Shareholders of
SK Telecom Co.,
Ltd.:
Opinion on Internal Control over Financial Reporting
We have audited SK Telecom Co., Ltd.s (the Company) Internal Control over Financial Reporting (ICFR) as of December 31,
2019, based on the criteria established in Conceptual Framework for Designing and Operating ICFR (ICFR Design and Operation Framework) issued by the Operating Committee of Internal Control over Financial Reporting in the Republic of
Korea (the ICFR Committee).
In our opinion, the Company maintained, in all material respects, effective internal control over financial
reporting as of December 31, 2019, based on ICFR Design and Operation Framework.
We also have audited, in accordance with Korean Standards on
Auditing (KSAs), the separate financial statements of the Company, which comprise the separate statement of financial position as of December 31, 2019, the separate statements of comprehensive income, changes in equity, and cash
flows for the year then ended, and notes, comprising significant accounting policies and other explanatory information, and our report dated March 10, 2020 expressed an unmodified opinion on those separate financial statements.
Basis for Opinion
We conducted our audit in accordance
with KSAs. Our responsibilities under those standards are further described in the Auditors Responsibilities for the Audit of the Internal Control over Financial Reporting section of our report. We are independent of the Company in accordance
with the ethical requirements that are relevant to our audit of the internal control over financial reporting in the Republic of Korea, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and Those Charged
with Governance for the Internal Control over Financial Reporting
The Companys management is responsible for designing, operating, and
maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Report on the Operation of Internal Control over Financial
Reporting.
Those charged with governance are responsible for overseeing the Companys internal control over financial reporting.
Auditors Responsibilities for the Audit of the Internal Control over Financial Reporting
Our responsibility is to express an opinion on the Companys internal control over financial reporting based on our audit. We conducted our audit in
accordance with KSAs. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.
Our audit of internal control over financial reporting involves performing procedures to obtain audit evidence about whether a material weakness exists. The
procedures selected depend on the auditors judgment, including the assessment of the risks that a material weakness exists. An audit includes obtaining an understanding of internal control over financial reporting and testing and evaluating
the design and operating effectiveness of internal control over financial reporting based on the assessed risk.
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