POSCO Group hopes to succeed together with Việt Nam

October 17, 2022 - 21:33
As a group that handles comprehensive materials, POSCO Group produces various industrial materials, including steel.

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

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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 Hà Nội, Việt Nam, in 1991, just before the establishment of diplomatic ties between the two countries, and started investing in Việt Nam first among Korean steel companies.

VSC-POSCO Steel (Hải Phòng), POSVINA (Hồ Chí Minh), Diamond Plaza (Hồ Chí Minh), and VINA Pipe have been established and supplied steel materials needed by Việt 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 Việt 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 Phú Mỹ IZ in Bà Rịa-Vũng Tàu.

It was established to supply high-quality steel products to the automobile, machinery and construction sectors in Việt 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 Phú Mỹ 2 Industrial Zone, Bà Rịa-Vũng Tàu Province (Southern Việt 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 Việt 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 Việt Nam, was established in 2009.

It is located in industrial zone 1 of Nhơn Trạch in Đồng Nai, the southern part of Việt 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 Việt 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 Vietnam PC (POSCO Vietnam Processing Center) is a processing centre that supplies processed steel products to companies in Việt Nam to meet customer needs.

VNPC, located in Hải Dương 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 Hải Phòng by the end of 2023, with 80,000 tonnes.

In the southern region, VHPC, located in Đồng 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 Việt Nam and Southeast Asia after POSCO International Corporation established the Việt Nam branch in 1991 and operated as a branch for 20 years.

The company's headquarters are in HCM City, and operate the Hà Nội branch.

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

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

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

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The steel business supplies steel materials to POSCO subsidiary factories in southern Việt 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 Việt Nam market and exporting Vietnamese steel products and grains.

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

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

Main executed projects are not only related to infrastructure, including Cái Mép international terminal, Nội Bài-Lào Cai Highway, 2nd phase of Hồ Chí Minh sewage treatment plant, stations of Hà Nội metro line No. 3 but also multifarious construction PJTs such as North An Khánh new city development, construction and operation of Hồ Chí Minh Diamond Plaza, General hospital in Huế, Formosa Hà Tĩnh steel complex, three packages of Long Sơn Petrochemical etc.

Now the representative office is located in Hà Nội, whereas the corporate office of the steel fabrication factory with a capacity of 30,000 tonne/year is in Hồ Chí Minh.

Posco Energy participated in an investment of two trillion won in the total project cost of the installed 1,200MW Mông Dương 2 thermal power plant located in Quảng Ninh Province in northern Việt 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 Nghệ An Province.

POSCO A&C, an architecture company subsidiary of the POSCO Group, opened its Hà Nội 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 Khánh city development project, PM service for Việt 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 Việt Nam for ten years.

We, POSCO Group, have participated in Việt 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 Việt Nam.

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