SK Innovation Expands Vietnam Mangrove Project

SK Innovation is intensifying its efforts to combat the climate crisis and preserve local ecosystems by expanding its mangrove restoration project to Can Tho City, Vietnam. The objective is to establish an additional 200-hectare forest by 2030, equivalent to four times the size of Seoul Forest. On October 13, the company signed an agreement with the Can Tho City government and local social enterprise MangLub.

Under this memorandum of understanding (MOU), Can Tho City will provide the planting site, while SK Innovation will manage and protect the afforestation area. MangLub, established in Vinh Long Province by SK Innovation in 2019, is responsible for the project's practical execution. This marks the first social enterprise in the region set up by SK Innovation, aimed at conserving the mangrove ecosystem and enhancing environmental awareness.

The mangrove restoration initiative began in 2018, and since then, the company has planted 1.14 million saplings across 294 hectares, equivalent to six times the size of Seoul Forest. Mangroves, with five times higher carbon storage capacity than ordinary plants, are crucial for "Asia's lungs." SK Innovation intends to quantify the biodiversity impact of the restoration area using its Life Cycle Assessment (LCA) capabilities.

Beyond environmental protection, the project emphasizes mutual growth with the local community, involving residents in planting activities to create jobs and conducting environmental education for students. Kim Woo-kyung, Head of PR at SK Innovation, stated that the company aims to drive sustainable growth by promoting youth employment expansion and local community participation through local social enterprises.

Presently, SK Innovation affiliates actively participate in planting volunteer activities to aid ecosystem restoration. The company is committed to fulfilling its social responsibility as a global entity by moving forward with the planned 200-hectare new afforestation project by 2030.