South Korean multi-business chaebol SK Group has unveiled plans for its Special Energy and Industrial Cluster ( SEIC ) in Vietnam’s most-southern province of Ca Mau that aims to boost the nation’s energy security and modernize the Mekong Delta’s agricultural value chain.

The SEIC initiative, which will include an agro-aqua hub carrying an investment of US$248 million, is a major commitment to Vietnam’s energy transition, notes Lee Dong Uk, a senior adviser at SK Group, who frames the initiative as a strategic implementation of the group’s global Deep Change strategy – a corporate commitment focused on green energy, digital innovation and advanced manufacturing – aimed at achieving mutual growth and sustainable progress in Vietnam.

While the investment value was not disclosed, the proposal focuses on providing substantial power generation and addressing the nation’s rapidly expanding power requirements with the construction of a floating storage regasification unit and liquefied natural gas ( LNG ) power plant, designed to provide stable baseload power as Vietnam shifts away from coal.

The energy project, which SK did not give a final value for, is being positioned as an ideal candidate for integration into the nation’s Power Development Plan VIII, better known as PDP8, Vietnam’s master strategy guiding energy infrastructure development towards the national Net Zero by 2050 goal.

Complementing the LNG facility, SK Group pledges, Lee points out, to deliver a comprehensive energy solution package, including hydrogen promotion, renewable energy, advanced energy storage systems and smart grid technology.

The second key pillar of the initiative involves construction of the Ca Mau Agro-Aqua Hub, which carries the US$248 million investment price tag and is forecast to generate an impressive US$17 billion to US$21 billion in revenue over 20 years, while creating 8,500 new jobs.

SK Group, Lee adds, has identified significant economic inefficiencies in the Mekong Delta, noting that the region suffers from post-harvest losses reaching up to 45% and high logistic costs consuming 30% to 40% of product value.

To tackle these challenges, the agro-aqua hub, which targets Ca Mau, the country’s largest shrimp-producing province, will deploy a modern, integrated system, which will include a processing centre, according to Lee, capable of handling 140,000 tonnes annually, designed to boost the value-added ratio to 75% to 80%.

Critically, the implementation of an advanced cold chain system is projected to reduce losses drastically to just 2.6%, Lee shares, a clear change compared with current losses. Furthermore, a specialized logistics terminal is expected to cut transport costs to below the national average of 16.8%, and a digital platform will connect 8,000 farmers with 1,200 buyers, ensuring market stability and transparent pricing.

The initiative, supported by SK Group’s infrastructure and global partnerships, is expected to enhance Vietnam’s agricultural competitiveness, while also achieving a significant environmental benefit by reducing annual carbon dioxide ( CO2 ) emissions by up to 66,000 tonnes.