New businesses in information and communication technology (ICT) drove earnings of SK Telecom in 2020, the company said Wednesday; while LG Uplus' IPTV and broadband internet business contributed largely to its earnings for last year.

SK Telecom's operating profit reached 1.35 trillion won, up 21.8 percent year-on-year ― the portion from new ICT businesses including media and e-commerce accounted for 24 percent of the total.

"SK Telecom saw even growth in all business areas including its five new ICT businesses set up in 2020," SK Telecom CFO Yoon Poong-young was cited as saying in a press release.

Sales in media and e-commerce grew 15.3 percent from 2019, based on an increase in media service subscribers, and the home and parking lot security businesses also saw growth.

SK Broadband generated media sales following its merger with T-broad, the second-largest cable TV operator, which saw a jump in IPTV subscribers. SK Telecom's security business saw growth in key businesses including information security and new businesses covering home and parking lot security.

It also received a boost from earnings at its retail affiliates 11st and the TV-based SK Store due to increased online shopping. Its signature app market One Store continued growth for 10 consecutive quarters, and posted its first annual net profit last year.

Meanwhile, LG Uplus' operating profit for 2020 came in at 886.1 billion won, up 29.1 percent year-on-year, largely driven by earnings from IPTV and broadband internet, as well as its internet data center business in the B2B sector.

Earnings from IPTV and broadband internet came in at 2.01 trillion won, up 9.9 percent from 2019. Earnings from the IPTV business grew after LG Uplus segmented customers according to different household types and strengthened its children's content. Based on this strategy, subscriptions increased 10.4 percent to 4.94 million from 2019, the company said. Revenue from the internet data center business drove earnings in the B2B business at 228 billion, up 16.1 percent.

LG Uplus said it will focus on developing new businesses with 5G technology in areas such as smart factories, businesses and mobility. The mobile carrier also said it would further utilize educational content amid the spread of the COVID-19 pandemic to boost its IPTV competitiveness, and develop new services based on collaboration with global companies including Netflix and Google.

"We will seek qualitative growth through stable investments this year, with the aim of innovating customer value," LG Uplus CFO Lee Hyuk-ju said in a press release.