POSCO Group hopes to succeed together with Viet Nam

Tuesday, Oct 18, 2022 14:31

A CSR programme to promote green lifestyles among workers of Posco VST. Photo courtesy of Posco VST

POSCO Group is a global steel company in South Korea, ranked first in the annual competitiveness evaluation by the World Steel Association for 11 consecutive years.

As a group that handles comprehensive materials, POSCO Group produces various industrial materials, including steel.

In 1968, POSCO was founded under the management philosophy of patriotism to help the economic development of South Korea, which was devastated after the war.

Currently, POSCO is operated under the policy of actively participating in social development based on the management philosophy of "Corporate Citizenship".

POSCO Group opened a representative office in Ha Noi, Viet Nam, in 1991, just before the establishment of diplomatic ties between the two countries, and started investing in Viet Nam first among Korean steel companies.

VSC-POSCO Steel (Hai Phong), POSVINA (Ho Chi Minh), Diamond Plaza (Ho Chi Minh), and VINA Pipe have been established and supplied steel materials needed by Viet Nam industry since 1994.

Since 2006, large-scale investments have been made to establish POSCO Vietnam (1.2 million tonnes of cold rolled steel), PY VINA (500,000 tonnes of section steel), and POSCO VST (250,000 tonnes of Stainless Steel).

We briefly introduce each corporation that has entered Viet Nam and is active as follows.

POSCO Vietnam, Southeast Asia's largest cold-rolled mill with an annual capacity of 1.2 million tonnes, opened in 2006 at the Phu My IZ in Ba Ria-Vung Tau.

It was established to supply high-quality steel products to the automobile, machinery and construction sectors in Viet Nam.

It serves as a production base in the Southeast Asian market and is leading the Vietnamese cold-rolled market with its excellent quality competitiveness recognised by the industry. It is actively exporting to Southeast Asia and Latin America.

POSCO YAMATO VINA STEEL (PY VINA), the joint venture of POSCO and Yamato group, is well-known as the No. 1 Section steel manufacturer in Vietnam. PY Vina is located in Phu My 2 Industrial Zone, Ba Ria-Vung Tau Province (Southern Viet Nam), with steel making capacity of 1.0 million metric tonnes per year.

PY VINA was initially established under the POSCO SS VINA ("Special Steel VINA"), and then the Yamato group was incorporated in 2020. As a result, PY VINA is the only big-size structural maker in Viet Nam producing high-grade Section steel with various standards (JIS, KS, ACRS, TCVN, BS, EURONORM, AS/NZS, SIRIM, SNI, etc.)

In addition, PY VINA is well-managed to deliver the product to customers more reliably and stably by running a big exclusive port.

POSCO VST, the No. 1 Stainless Steel Cold Rolled Product Manufacturer in Viet Nam, was established in 2009.

It is located in industrial zone 1 of Nhon Trach in Dong Nai, the southern part of Viet Nam. We have an annual production capacity of 250,000 tonnes of stainless steel cold rolling. We have been meeting the demand for high-quality stainless steel in both Vietnamese local and global markets to contribute to the economic growth of Viet Nam.

Since our establishment, we have continuously improved product quality and developed various stainless steel cold-rolled products.

Furthermore, POSCO VST has grown with our business partners and is always committed to creating and sharing values.

Posco's factory in Ba Ria-Vung Tau Province. Photo courtesy of Posco Vietnam

POSCO Vietnam PC (POSCO Vietnam Processing Center) is a processing centre that supplies processed steel products to companies in Viet Nam to meet customer needs.

VNPC, located in Hai Duong Province, supplies high-quality steel materials to major northern region customers such as Korean and Japanese home appliance companies and VinFast.

With a current processing capacity of 100,000 tonnes, VNPC aims to build the second plant at Hai Phong by the end of 2023, with 80,000 tonnes.

In the southern region, VHPC, located in Dong Nai Province with a processing capacity of 300,000 tonnes, is supplying high-quality steel products to Samsung Electronics' home appliances and other Korean, Japanese and Vietnamese customers.

POSCO International Vietnam Co Ltd was incorporated in October 2011 to expand business in Viet Nam and Southeast Asia after POSCO International Corporation established the Viet Nam branch in 1991 and operated as a branch for 20 years.

The company's headquarters are in HCM City, and operate the Ha Noi branch.

Ho Chi Minh office is engaged in import/export and domestic distribution business in the southern region of Viet Nam, focusing on steel, steel raw materials, eco-friendly materials, automotive parts and infrastructure items.

Ha Noi branch conducts business activities in the central and northern regions of Viet Nam, focusing on steel, grain, eco-friendly material and automotive parts trading.

The steel business supplies steel materials to POSCO subsidiary factories in southern Viet Nam and is in charge of domestic distribution and import/export business of products and processed products.

In addition, POSCO International Vietnam Co Ltd is carrying out various businesses such as supplying steel products, grains, eco-friendly materials and automotive parts to the Viet Nam market and exporting Vietnamese steel products and grains.

After setting up the representative office in 1993, POSCO E&C entered the Viet Nam market in 1995 by establishing a steel fabrication factory. In addition, POSCO E&C has contributed to the economic development of Viet Nam over 27 years by investing in and executing Projects such as Diamond Plaza (Department store and offices etc.) and North An Khanh new city development etc.

In 2008, POSCO E&C designed the future of Ha Noi city by carrying out the design of the Ha Noi Metropolitan development plan.

Main executed projects are not only related to infrastructure, including Cai Mep international terminal, Noi Bai-Lao Cai Highway, 2nd phase of Ho Chi Minh sewage treatment plant, stations of Ha Noi metro line No. 3 but also multifarious construction PJTs such as North An Khanh new city development, construction and operation of Ho Chi Minh Diamond Plaza, General hospital in Hue, Formosa Ha Tinh steel complex, three packages of Long Son Petrochemical etc.

Now the representative office is located in Ha Noi, whereas the corporate office of the steel fabrication factory with a capacity of 30,000 tonne/year is in Ho Chi Minh.

Posco Energy participated in an investment of two trillion won in the total project cost of the installed 1,200MW Mong Duong 2 thermal power plant located in Quang Ninh Province in northern Viet Nam and has been operating the facility stably since commercial development in 2015. In addition, we are also considering investing in a new 1,500MW LNG + 200,000kL LNG Terminal gas-fired power plant in Nghe An Province.

POSCO A&C, an architecture company subsidiary of the POSCO Group, opened its Ha Noi office in 2008, and currently, the business is active.

We specialise in architecture, design CM, PM, modular, master plan, etc., and major projects implemented, including design service for the North An Khanh city development project, PM service for Viet Nam-Korea Institute of Science and Technology and design service for E-Mart.

POSCO ICT, the parent company of POSCO ICT-VIETNAM, has been operating in Korea's information and communication technology (ICT) service field for over 30 years.

In particular, it is developing and operating the entire ICT field of POSCO and is doing business as a leading company in the Smart Factory field in various industries.

With such experience and technology, it is a company that has been conducting ICT business in Viet Nam for ten years.

We, POSCO Group, have participated in Viet Nam's economic development for the past 30 years and are proud to have made many contributions. Even now, we are doing our best to participate in high-quality steel products and various fields, contributing to the sustainable economic development of Viet Nam.

We once again congratulate Korea-Viet Nam for 30 years of establishing diplomatic relations and promise to be with Viet Nam in the next 30 years. VNS


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