Korea's SK Group seeks partnerships in LNG-fired power projects in Vietnam

By Tri Duc

Sat, February 15, 2025 | 9:26 am GMT+7

South Korean chaebol SK Group seeks to jointly build LNG-fired power plants in Vietnam and then develop facilities utilizing electricity generated by those power plants.

SK Group chairman Chey Tae Won made the statement at a Friday meeting with Minister of Planning and Investment Nguyen Chi Dung.

The move is in line with SK Group’s target of pushing green transition in Vietnam, towards the country’s net zero goal 2050, he added.

SK Group chairman Chey Tae Won (left) and Minister of Planning and Investment Nguyen Chi Dung at a meeting in Hanoi on February 14, 2025. Photo courtesy of the ministry.

SK eyes collaboration in some LNG-fired power projects and an artificial intelligence (AI)-innovation center.

It also aims to build a hydrogen-logistics-innovation center and an eco-friendly agriculture-innovation center.

For his part, Minister Nguyen Chi Dung urged SK to further invest in Vietnam, especially in supporting the Hanoi-based National Innovation Center (NIC). He called on SK to help the NIC build a research & development (R&D) center and conduct workforce training for the semiconductor sector.

SK has so far invested $3.5 billion in Vietnam, including top Vietnamese businesses Vingroup, Masan, Imexpharm, and a $500-million biodegradable plastic factory.

On the same day, the executive of SK had separate meetings with To Lam, Party General Secretary, and Prime Minister Pham Minh Chinh. At the event, he proposed that SK can jointly develop energy projects in Vietnam, including LNG-fired power and nuclear power per small module reactor (SMR) models.

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LNG

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