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VCCI News

Last updated: Friday, October 20, 2017

 

Vietnam - South Korea: Cooperation Opportunities in Energy Industry

Posted: Tuesday, September 26, 2017


In an attempt to create opportunities for Vietnamese and South Korean companies active in electricity, oil and gas and marine industries and introduce electric and oil/gas equipment, techniques and technologies of South Korea to Vietnamese companies, the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI-HCM) cooperated with the Korea Electrical Manufacturers Association (KOEMA) to organise a workshop to introduce South Korean oil, gas and hydropower industry and arrange meetings for South Korean companies with Vietnamese partners.

Attendants to the “Vietnam – Korea Power Forum and Business Meeting 2017” included Mr Park Jung Ho - Director of the International Development and Cooperation Centre, Korea Hydro & Nuclear Power Co., Ltd; nine South Korean companies engaged in electrical and petroleum equipment such as pipes, fittings, floodgates, dampers, valves and simulators; representatives from Ho Chi Minh City Power Corporation; and many Vietnamese energy companies.

South Korea recorded a tremendous economic growth, with its gross domestic product (GDP) estimated to reach US$376 billion in 2017. In the country, hydropower and nuclear power industry plays a key role in economic development and meets fast-rising demand for electricity and national economic growth.
In late 2016, the Government of Vietnam stopped Ninh Thuan nuclear power project to put more effort into other key projects. From now to 2030, Vietnam will consider investing in advanced coal-fired power plants and imported LNG-fuelled turbines with a total capacity of 6,000 MW instead of nuclear power plants. Subsequently, the country will add other types of power sources beside coal-fired power such as renewable energy, liquefied natural gas (LNG)-fuelled power or consider purchasing electricity from neighbouring countries. As the Government advocates developing clean energy, investors expressed many commitments and hoped that there will soon have guiding documents for the enforcement of Circular 39 and Circular 11 of the Ministry of Industry and Trade.

Mr Park Jung Ho believed that, by meeting Vietnam's demand for energy production equipment, South Korea's experiences and capabilities will support energy growth and national economic development of Vietnam.

Thinking high of power cooperation between the two countries, an official from Ho Chi Minh City Power Corporation (EVN HCMC), said that EVN HCMC has to date had two major cooperation projects with South Korea: A project on supply of telemetry equipment and a project on supply of power construction vehicles (used to repair active transmission lines) from South Korea’s Dong Har. Also according to EVN HCMC, the new technologies will importantly help shape its power development orientation towards 2020 when Saifi reliability indicator is less than one minute and Saidi indicator is less than one time to gradually improve the smart grid. Saifi stands for the System Average Interruption Frequency Index and Saidi stands for the System Average Interruption Duration Index.

Vietnamese businesses expressed interests in clean, environment-friendly energies. Mr Do Van Dien, a representative from TSV Joint Stock Company, said, “Currently, we are carrying out a solar power system in Ninh Thuan province, adopting European technologies for years. As for new technologies from South Korea, the forum is a good opportunity for the business communities of the two countries to discuss issues of mutual concerns and seek long-term cooperation opportunities.” He also hoped that South Korean partners will be able to supply as good products as European ones with more competitive prices.

Viet Hung








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