SK Telecom Co., South Korea's largest mobile phone operator, has agreed to buy a stake in Hana Financial Group Inc.'s credit card unit for $343 million to expand its wireless payment business.

SK Telecom said in a regulatory filing Monday that it plans to buy 57.6 million new shares in Hana Card Co. SK Telecom would hold 49% of the credit card company on completion of the deal, which is subject to approval by the nation's financial and antitrust regulators.

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