- Built a forward base to enter the market by founding a company in Ho Chi Minh City
- Focusing SOC area such as railroads, plants, and new city development

POSCO ICT (CEO Bong-Rae Cho) is strengthening overseas business by advancing to the Vietnamese market in full scale, by establishing a local subsidy in Ho Chi Minh City, Vietnam.
The local subsidy in Vietnam will be utilized to develop the Vietnamese ICT market more systematically, which is growing quickly, and construct an advance base to penetrate into the local market. The local company was named POSCO ICT Vietnam. Besides Vietnam, POSCO ICT has local subsidies in China, Indonesia, and Brazil.  

With rapid economic development, many social overhead capital (SOC) construction projects are in progress in Vietnam, such as the new city, highway, railroad, and power plan. In particular, Korea and Vietnam build a strategic partnership in various areas including economics, politics, and culture, on the occasion of the recent visit by President Geun-hye Park for international diplomacy.

As the positioning of Vietnam is strengthened, POSCO completed the construction of the largest cold rolling factory in South East Asia with the production capacity of 1.2 million tons a year in 2009, and STS hot rolling company with the capacity of 230,000 tons a year in 2012. As POSCO affiliated companies are also carrying out various businesses, Vietnam emerges as a strategic location for POSCO affiliated companies. POSCO Construction is also constructing the hot rolling factory and coke property factory, besides Formosa Ha Tinh Steelworks.

POSCO ICT also plans to maximize a synergy effect using the Vietnamese local subsidiary, by closely supporting various business activities promoted by POSCO and its affiliated companies. Furthermore, POSCO ICT will make efforts to make this Vietnamese local subsidiary as an advance base for the penetration into the local market, by developing various businesses such as the Vietnamese Urban Railway Development project and Formosa Ha Tinh Steelworks EIC project that POSCO ICT has won the contract. In addition, the subsidiary will expand the business area to another nearby Southeaster markets, like Malaysia and Indonesia.

“Office opening on this occasion is designed to prepare the close support system for POSCO’s overseas production bases, and secure the market penetration base in Vietnam. We will promote market entry more actively, based on the IT and engineering convergence technology,” said Kwang Suk Kim, General Director in POSCO ICT VIETNAM.