This case is set in the period after the worldwide financial crisis that started in mid 2007. Focusing on SK Telecom, one of South Korea's largest telecommunications providers, it reviews the previous strategies implemented by the Korean firm as well as the key challenges that SK Telecom has faced during the period of 2008–2009. This case also reviews the other global strategies undertaken by other major telecommunications companies from other countries. Faced with home market stagnation as well as distressed credit markets, SK Telecom requires a renewed strategy for further growth ahead. The case allows students to examine the threats and opportunities associated with the firm's internal and external environment, review its corporate portfolio, and formulate strategies for future growth of the firm. This case also highlights the different challenging market conditions in various markets and how these conditions affect the viability of SK Telecom seeking growth overseas.