South Korea's Ministry of Science and ICT and the Korea Internet & Security Agency launched an investigation into the major data breach at SK Telecom (KRX:017670), reported on April 20, involving potential exposure of personal information and cybersecurity flaws.

The science ministry established an emergency task force and may launch a joint public-private probe, while the telecommunications firm faces possible corrective orders if security lapses are confirmed, the ministry said in a press release earlier this week.

Shares of SK Telecom fell nearly 2% in late-morning trade Friday.