SK said April 24 that it signed two memorandums of understanding a day earlier in Hanoi at the Korea-Vietnam Business Forum — one with the government of Nghe An province and another with Vietnam’s National Innovation Center (NIC) — to support the creation of an AI ecosystem.
The signing ceremony was attended by Kim Jung-kwan, South Korea’s minister of trade, industry and energy, and Ngo Van Tuan, Vietnam’s finance minister. SK participants included Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry; Choo Hyung-wook, CEO of SK Innovation; and Ryu Young-sang, CEO of SK Telecom. Vietnamese attendees included Nguyen Khac Than, party secretary of Nghe An province; Vo Trong Hai, chairman of the Nghe An People’s Committee; and Vu Quoc Huy, director of the NIC.
SK said the cooperation is intended to support Vietnam’s national AI strategy, with SK positioned as a key partner. The company said it expects the effort to lay groundwork for its first overseas expansion of a “Korean-style AI full-stack” model, linking AI data center construction and stable power supply to AI model development and testing and the spread of industry-specific AI services.
SK Innovation and SK Telecom signed an MOU with the Nghe An provincial government to cooperate on building an AI data center and related infrastructure.
SK said the plan is centered on linking the project to SK Innovation’s Quynh Lap LNG power project, including power supply and the development of dedicated generation sources. SK Telecom said it will review development, construction and operation of an AI data center based on that foundation and seek to secure global demand.
The Quynh Lap LNG project is a large-scale energy infrastructure development that includes a 1,500-megawatt combined-cycle gas power plant, an LNG terminal and a dedicated port, with completion targeted for 2030.
The companies also signed a separate MOU with the NIC to cooperate broadly on building an AI ecosystem, including AI data center construction, energy infrastructure development and establishing a policy foundation. SK Telecom will handle technology cooperation and attracting investment, while SK Innovation will provide energy solutions.
SK described the effort as an overseas expansion of its “AI full-stack provider” strategy, integrating a value chain spanning semiconductors, data centers, power and energy, and AI services.
Ahead of the forum, Chey said at a business meeting that “AI will play a key role in Vietnam’s sustained growth,” adding that SK has capabilities across the AI ecosystem — from energy and semiconductors to AI models and application services — and “will make a tangible contribution to the development of Vietnam’s AI industry.”
An SK official said the group has maintained cooperation with Vietnam since the 1990s, starting with oil development under the late Chairman Chey Jong-hyun, and expanding into areas including energy, information and communications, investment and social contributions. The official said SK will use the AI cooperation to further strengthen ties as a key partner in Vietnam’s national AI strategy.
* This article has been translated by AI.
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