Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
SK teams up with Vietnam for net-zero initiative
SK Group Chairman Chey Tae-won, right, shakes hands with Vietnamese Prime Minister Pham Minh Chinh, celebrating the opening of the latter’s National Innovation Center in Hanoi, Saturday. Courtesy of SK Group
By Lee Min-hyung
SK Group Chairman Chey Tae-won has pledged to build a green business framework with Vietnam for the latter’s transition to a net-zero economy, the Korean conglomerate said Sunday.
The SK chief and leaders of the group’s key affiliates discussed the partnership with high-ranking government officials from Vietnam on their two-day visit to Hanoi from Friday. Both sides agreed to strengthen the partnership for the country’s eco-friendly drive in key business areas, such as new renewable energy and resource circulation.
The SK executives engaged in the hectic business schedule there by taking part in an opening ceremony for Vietnam’s National Innovation Center (NIC) and the National Hydrogen Summit.
Chey’s visit to Vietnam came shortly after his recent trip to Paris where SK executives held a CEO seminar to discuss their global strategy for the protection of the environment.
Earlier, Vietnam set its vision for carbon neutrality by 2050 as a key national project. SK is expected to play a crucial part in boosting the country’s green business initiative. The Korean conglomerate will also share its group-wide ranging know-how on ways to fulfill environmental, social and corporate governance (ESG) management.
On his trip to the country, Chey underscored SK’s decades-long partnership with Vietnam and expressed a strong willingness to extend and diversify the relationship. He also engaged in in-depth discussions on green business with Vietnamese Prime Minister Pham Minh Chinh. He also met with Vuong Dinh Hue, chairman of the National Assembly of Vietnam, to deepen the strategic alliance.
SK Group Chairman Chey Tae-won delivers a speech during the National Hydrogen Summit held in Vietnam’s National Innovation Center in Hanoi, Saturday. Courtesy of SK Group
“Our goal is to help Vietnam build an eco-friendly ecosystem for all the cycles, from production to consumption there, so the country can achieve its net-zero initiative in a timely manner,” Chey said.
SK supported $30 million (40.7 billion won) for the establishment of the NIC, and promised to elevate the tie for Vietnam’s speedy transition from a manufacturing-driven to a tech-savvy economy.
“Vietnam has been a symbolic partner for SK Group since its former Chairman Chey Jong-hyun started the crude oil production business there back in the 1990s,” a spokesman at SK Group said. “We have also partnered in a variety of other business areas and held social activities. Both sides will widen partnerships not just in the green business framework, but digital and state-of-the-art areas for sustainable growth of both sides.”
Chey and the group’s top management are scheduled to continue their overseas business trips next month to South America and Europe, as part of their last-minute efforts to make Korea’s southern port city of Busan become the host city of the World Expo in 2030.