Korean deals to advance power sector

Some of the new deals focus on areas such as technology transfer and workforce training

- By Nguyen Thu

Vietnam is stepping up cooperation with South Korea to secure energy supply and accelerate its transition towards cleaner power sources, with a series of new agreements signed during high-level engagements.

At the government and institutional level, a series of deals covering power infrastructure and nuclear energy were exchanged last week, signalling closer alignment in energy ties with South Korea.

These included an MoU between Vietnam's Ministry of Industry and Trade and South Korea's Ministry of Climate, Energy and Environment on power infrastructure; nuclear research cooperation between Vietnam National Industry-Energy Group and Korea Electric Power Corporation; and a financial framework for nuclear power involving Petrovietnam, KEPCO, Export-Import Bank of Korea, and Korea Trade Insurance Corporation.

At the corporate level, Vietnam Electricity (EVN) is strengthening ties with major South Korean partners, including Hyosung Heavy Industries, Korea Electric Power Corporation, and Taihan Electric Wire. Recent engagements focused on grid modernisation, energy storage, and advanced power technologies, alongside investment opportunities in Vietnam's power sector.