In mid-February, at the headquarters of the Central Party Office of Vietnam, General Secretary To Lam had a meeting with Chairman of SK Group and Chairman of the Korean Chamber of Commerce and Industry (KCCI), Chey Tae-won.
At the meeting, the General Secretary highly appreciated the practical contributions of Korean enterprises investing and doing business in Vietnam, including SK Group, thereby making an important contribution to Vietnam's socio-economic development.
Besides, General Secretary To Lam highly appreciated the plan to implement new projects of SK Group in Vietnam in line with the socio-economic development orientations of Vietnam, and at the same time suggested the group cooperate closely with relevant agencies and localities of Vietnam to soon implement the projects in the fastest, most practical and effective way.
For his part, Chairman of SK Group Chey Tae-Won reported on the investment activities of SK Group in Vietnam in the past time and the plan to expand investment in Vietnam in the coming time.
Mr. Chey emphasized that SK Group has the world's leading capacity in the energy sector. The Group not only focuses on developing key domestic industries but also expands its influence globally to seek investment opportunities in new and rapidly changing fields, especially renewable energy and advanced technology.
A bright spot in SK Group's global development strategy is its investment activities in Vietnam. With great market potential and the need to develop clean energy and high technology, SK has chosen Vietnam as an important destination in its business expansion strategy.
Accordingly, SK wishes to cooperate in implementing related fields in Vietnam to contribute to the sustainable development of the Vietnamese economy. Typically, the Group's desire to build large-scale LNG power plants and develop new energy centers associated with AI, hydrogen and logistics applications in Vietnam.
SK Group was founded in 1953 in Korea under the original name Sunkyong, specializing in the production of textile products.
During more than half a century of development, the Group has undergone many stages of change and expanded its operations into many important fields, from chemicals to energy, telecommunications, technology and pharmaceuticals.
By the end of 2021, SK Group surpassed Hyundai Motor to become the second largest economic group in Korea in terms of total assets, reaching 291,000 billion won (about 243 billion USD), an increase of about 52,000 billion won compared to 2020.
In 2023, the group recorded revenue of 99.64 billion USD. In 2022, this figure was 102.53 billion USD.
According to the Ministry of Planning and Investment of Vietnam, to date, SK Group has invested about 3.5 billion USD in Vietnam, focusing on the fields of renewable energy, pharmaceuticals, logistics, technology and real estate. SK's investments in Vietnam are not only focused on driving market growth but also contributing to the energy transition and promoting green technology. The Group's strategy is to focus on sustainable development, investing in clean and environmentally friendly technologies. SK's subsidiaries are world leaders in semiconductors, telecommunications, energy and life sciences. These companies are developing carbon-neutral technologies, renewable energy and AI to drive future growth, as part of a strategy to transform Korea's second-largest conglomerate into a technology company.