POSCO expands to Vietnam

Chung Joon-yang POSCO Chairman

POSCO’s effort to enhance its business in Southeast Asian markets is blossoming, as its Vietnamese unit, POSCO VST, will expand its stainless steel production capacity.

The world’s third-largest steelmaker said Wednesday that it will enlarge its capacity from 85,000 tons annually through 235,000 tons in 2013 to eventually 285,000 tons in 2014. 

POSCO said in March that it would boost its stainless steel production capacity by 200,000 tons per year in the coming years in order to meet growing demand in the region.