Seoul – Korean mobile operator SK Telecom has acquired a 38.89% stake in Korean telco Hanaro Telecom, which operates the successful Hana TV IPTV service. SK Telecom acquired the stake for a reported KRW 1,087bn (US$1.18 billion); the deal is subject to government approval. Under the agreement, SK Telecom will replace a consortium led by AIG and Newbridge as the largest shareholder in Hanaro Telecom. Analysts expect the deal to give the mobile operator greater scale and opportunity for the delivery of convergence services. SK Telecom CEO Shin Bae Kim said he expects this deal to bring new growth opportunities for the Korean IT industry. “Building on our strong expertise in convergence business, we will strive to create new global business models such as developing wired and wireless integrated service with Hanaro Telecom.”