SK expands into Vietnam AI ecosystem with data center plans

SK Group is stepping up efforts to build Vietnam’s artificial intelligence ecosystem and core infrastructure, marking a major push to export its “AI full-stack” model overseas.

The group said Friday it signed separate memorandums of understanding with Vietnam’s Nghe An provincial government and the National Innovation Center during the Korea-Vietnam Business Forum held in Hanoi.

The agreements were signed in the presence of Industry Minister Kim Jung-kwan and Vietnam’s Finance Minister Ngo Van Tuan. SK Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, along with SK Innovation CEO Choo Hyung-wook and SK Telecom CEO Ryu Young-sang, attended the event, alongside senior Vietnamese officials.

The move follows a recent summit between Korea and Vietnam, where both sides agreed to expand cooperation in future growth sectors such as AI, semiconductors and energy. SK’s latest deals are seen as a private-sector extension of that agenda.

Under the partnerships, SK aims to position itself as a key partner in Vietnam’s national AI strategy, spanning infrastructure, energy supply and industrial applications.

A central pillar of the plan is the potential development of AI data centers in Nghe An, a fast-growing industrial hub in north-central Vietnam. SK Innovation and SK Telecom will jointly explore building AI data center infrastructure in the region, supported by stable power supply solutions.

The initiative is expected to be linked to the Quynh Lap liquefied natural gas power project, where SK Innovation was recently selected as a developer alongside local partners. The large-scale project includes a 1.5-gigawatt gas-fired power plant, LNG terminal and dedicated port, with construction slated to begin in 2027 and completion targeted for 2030.

SK Innovation will explore supplying power and energy solutions for the data center, while SK Telecom will lead development, construction and operations, as well as seek global demand for AI services.

The Nghe An provincial government is expected to support the project through administrative approvals, regulatory coordination and investment incentives.

Separately, SK Innovation and SK Telecom also signed a broader cooperation agreement with the National Innovation Center to support the development of Vietnam’s AI ecosystem.

The collaboration will cover areas including AI data center construction, energy infrastructure development and policy support for AI industry growth. SK Telecom will provide technical expertise and help attract investment, while SK Innovation will deliver energy solutions. The NIC will facilitate regulatory support and connect local partners.

Established in 2019, the NIC serves as Vietnam’s national innovation hub, leading efforts in AI, semiconductors and startup development. SK has been a long-term partner, including a $30 million contribution to the center’s establishment.

The Vietnam initiative is significant as it marks one of the first overseas applications of SK’s “AI full-stack provider” strategy — an approach championed by Chairman Chey to integrate semiconductors, data centers, energy and AI services into a unified ecosystem.

SK is already advancing similar projects in Korea, including a hyperscale AI data center in Ulsan in partnership with Amazon Web Services, targeted for completion in 2027, while also exploring collaboration with OpenAI on domestic AI infrastructure.

“AI will play a critical role in Vietnam’s continued growth,” Chey said at a business roundtable held ahead of the forum. “SK has capabilities across the entire AI value chain, from energy and semiconductors to AI models and applications, and we aim to contribute meaningfully to Vietnam’s AI development.”

An SK official said the group plans to further strengthen its partnership with Vietnam, building on decades of cooperation spanning energy, telecommunications and investment since the 1990s.