Korea's SK Telecom aims for 36 million subscribers by 2025 with partners including Google, Amazon, Starbucks and AIA Insurance so far.
SK Telecom held a press conference today to announce its plans to expand into the subscription market with a new subscription brand T Universe.
SKT said it expects to reach 36 million T Universe subscribers and KRW 8 trillion (€5.834 billion) in annual gross merchandise value by 2025.
The idea, as the name suggests, is that it will be a ‘subscription Platform for All’. The operator is to work with partners – from SMEs and start-ups to global companies – with the aim of converting all its customers into T Universe subscribers.
More partners will be added over time. The service will launch on 31 August.
SK is working on:
- online and offline shopping with Amazon, 11st, Emart and others
- food & beverages with Starbucks, Paris Baguette, Baedal Minjok, and more
- digital services with Google One, Wavve, Flo, V Coloring, Xbox Game Pass, Spoon Radio, and others
- mobility services with T Map, Modoo Shuttle, among others
- cosmetics with Toun 28
- flower subscription with Kukka
- pet products with About Pet,
- insurance with AIA Insurance
- nutritional supplements with Biopublic and
- education with DoBrain).
It is in talks with around 100 other companies to offer subscription services.
Many variations on the theme
SK claims that its Universal Pass, which groups together various subscription products centred around Amazon Global Store on 11st will offer “exceptional value and benefits to customers”.
The monthly subscription will cost KRW 9,900 (€7.20) a month, including free international delivery with no minimum spend for Amazon Global Store products on 11st
It will also provide KRW 3,000 worth of 11st points, Google One Membership with 100GB of cloud storage and one additional subscription product worth from KRW 8,000 to KRW 10,000.
More details of the offers and alternatives here.
A new revenue universe?
“T Universe aims to create a new universe of subscription services that benefits both customers and business partners,” said Park Jung-ho, CEO of SKT. “By launching the subscription business that goes beyond the realm of telecommunications, we will suggest a brand new subscription lifestyle for our customers.”
SK plans “to nurture over 1,000 consultants to provide specialized care and assistance for subscription customers”. SKT’s customer care centre already handles more than 100 million customer calls per year.
Customers will also be able to sign up for the subscription products via online channels of SKT (T World) and its subsidiaries (11st, etc.) that boast a combined total of 50 million monthly active users.