Korean chaebol keen on new-tech hydrogen production in Vietnam

SK Group, one of the largest chaebols in South Korea, is interested in deploying new technologies to produce hydrogen and store carbon dioxide in Vietnam.

Representatives of the group met Friday with Vietnamese Prime Minister Pham Minh Chinh and made a presentation on the carbon-neutral liquefied natural gas (LNG) value chain being applied in several countries like South Korea, Australia and Timor Leste.

The cross-border projects are producing hydrogen from natural gas and using depleted gas fields to store carbon dioxide permanently during the production process, they said.

Such projects can create clean energy because they captures 98% of emissions, they added.

SK executives also said that while the project chain was being implemented in three countries, it could be applied in Vietnam alone, given the nation’s advantages.

PM Chinh said the group’s potential investment plans align with the country’s master plan and asked for more details on its Australia project.

He also requested the SK Group to work with the Vietnamese Ministry of Planning and Investment and partner with state-run energy giant Petrovietnam on project proposals and submit them to competent authorities for consideration.

SK Group has invested in a number of major companies in Vietnam including Vingroup, Masan Group, and PV Oil.