Verizon Wireless And SK Telecom Sign International Roaming Agreement

Verizon Wireless And SK Telecom Sign International Roaming Agreement

Service Between U.S. and Korea To Start During 2002 FIFA WORLD CUPTM

May 21, 2002




Verizon Wireless, the United States' largest wireless carrier, and SK Telecom (NYSE: SKM), the largest wireless carrier in South Korea, today announced a reciprocal roaming agreement. The agreement allows Verizon Wireless customers when in the Republic of Korea to roam on SK Telecom's network with their same handset and phone number. The service will commence prior to the upcoming 2002 FIFA World Cup, which will be held in South Korea from May 31, 2002 to June 30, 2002.

This agreement is the first that enables Verizon Wireless customers to roam in an Asian country using their Verizon Wireless handsets. The agreement also allows SK Telecom customers to roam on the Verizon Wireless network when in the U.S. Combined, Verizon Wireless and SK Telecom serve more than 46 million customers.

The Korean government estimates 600,000 Americans visit Korea annually, with 120,000 Americans expected to visit specifically for the World Cup. It is also estimated that 750,000 Koreans visit America annually.

"The SK Telecom and Verizon Wireless roaming agreement is another example of how we are providing valuable services for our customers - even when their travels take them half way around the globe," said Tony Melone, vice president of network operations and support for Verizon Wireless. "With the 2002 World Cup starting soon in Korea, American soccer fans will be able to conveniently communicate with their friends and family back home."

"SK Telecom is pleased to team up with Verizon Wireless to offer SK Telecom customers wireless communications between the United States and Korea. The United States represents a major step in our efforts to provide global CDMA roaming services for SK Telecom customers," said Wonil Lim, Vice President of Segment Marketing at SK Telecom.

About Verizon Wireless

Verizon Wireless is the nation's leading provider of wireless communications. The company has the largest nationwide wireless voice and data network and 30 million customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at http://www.verizonwireless.com.

About SK Telecom

SK Telecom is Korea's leading mobile communications company with more than 16 million subscribers. SK Telecom successfully commercialized the world's first CDMA cellular phone service and recently launched the world's first synchronized commercial IMT-2000 third generation service. The company is listed on the Korean Stock Exchange, the New York Stock Exchange, and the London Stock Exchange. To learn more about SK Telecom, please visit www.sktelecom.com.

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