‘VSSC’, a local color steel sheet steel service center in Vietnam, in which Dongkuk Steel has invested in shares (provided by Dongkuk Steel).
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‘Color steel sheet leader’ Dongkuk Steel secures production base in Vietnam… Full-scale global expansion

‘VSSC’, a local color steel sheet steel service center in Vietnam, in which Dongkuk Steel has invested in shares (provided by Dongkuk Steel).

Dongkuk Steel has acquired a stake in a local steel service center in Vietnam to expand its global color steel plate base.

Dongkuk Steel announced that it has invested a 15% stake in Vietnam Steel Service Center (VSSC), a local color steel sheet steel service center in Vietnam. A steel service center refers to a processing center that takes steel sheets shipped in coil form and cuts them to the desired length and width.

Completed at the end of last year, VSSC was located in the Phu My Industrial Complex in Ba Ria-Vung Tau Province, southern Vietnam. It is adjacent to the port, and it is a key point where you can access the home appliance production complex and Ho Chi Minh City within an hour by car. If VSSC of about 6,400 pyeong is operated normally, it will be possible to process and sell 70,000 tons of color steel sheet annually. VSSC plans to start operating in earnest from the second quarter of this year.

Dongkuk Steel exports 10,000 tons of color steel sheets to Vietnam every year. Using VSSC as a base, the company plans to discover local demand for premium color steel sheets in Vietnam. A Dongkuk Steel official said, “As Vietnam’s economy is growing rapidly, consumption of high-quality building materials is highly likely to increase. We plan to target the Vietnamese market with premium color steel sheet ‘Luxteel’.”

This investment is part of Dongkuk Steel’s ‘DK Color Vision 2030’ global expansion strategy announced last year. In order to produce 1 million tons of color steel sheets by 2030, the company has been pursuing global expansion strategies such as the expansion of the second coil center in Mexico and investment in Vietnam. Further expansion into the US, Europe, and Oceania regions is being considered in the future.

[김경민 기자]


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Reference-www.mk.co.kr

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