SK Group, a South Korean conglomerate, aims to initiate a clean energy venture in Vietnam by utilizing natural gas to generate green hydrogen.
Following their attendance at the ASEAN Australia Special Summit 2024, SK leaders engaged in discussions with Prime Minister Pham Minh Chinh in Australia, introducing their green hydrogen initiatives in Vietnam and other South Korean projects in Timor Leste.
They highlighted the environmental benefits of utilizing natural gas for hydrogen production, emphasizing its ability to permanently store carbon dioxide in depleted mines, resulting in clean energy output.
As one of South Korea’s largest corporations and an investor in various Vietnamese companies, SK Group expressed its interest in spearheading such energy initiatives within Vietnam.
Prime Minister Chinh welcomed the proposal and urged SK to collaborate with the Ministry of Planning and Investment and other relevant government entities to actualize the project. Additionally, he suggested forging a strategic partnership with the state-owned oil giant PETROVIETNAM.
During the discussions, Prime Minister Chinh also met with Paul Serra, CEO of SunRice Group, Australia’s largest rice producer and distributor, expressing interest in increased investment in Vietnam. Chinh proposed a partnership with local businesses to enhance the supply chain and advocated for direct engagement with farmers to ensure a stable supply.
In 2008, the group acquired a majority stake in the Lap Vo rice manufacturing facility in Dong Thap province, situated in the Mekong Delta region, with an annual production capacity of 260,000 tons.