OREANDA-NEWS. July 24, 2012. Mr. Nam Sik, president of Vietnam Branchof South Korea Pohang Iron & Steel Co.,Ltd. (POSCO Vietnam) and other officials in charge from Daewoo International and POSCO Asia, flew to Wuhan and signed Annual Steel Export Long-Term Cooperation Agreement 2012, reported the press-centre of WISCO.  

Pohang Iron & Steel Co. Ltd is the biggest iron & steel enterprise in South Korea and also one of the biggest steel manufacturers in the world. Daewoo International, POSCO Asia and POSCO Vietnam are sub-companies of POSCO.

In 2010, WISCO established cooperation on steel export with POSCO Vietnam through Daewoo International and POSCO Asia. Both sides have continuously deepened cooperation and reached many agreements since they started cooperation 3 years ago. The WISCO steel export amount by agreement and contract to POSCO Vietnam in 2012 has substantially exceeded the total export amount in the past 3 years.

President Nam Sik said at the ceremony that WISCO was a good representative of Chinese steel enterprises and also an important strategic supplier of POSCO Vietnam. He hoped that both companies could tap their potentials and promote to step up cooperation. Mr. Zhu Jiangyue, President of WISCO International and Chief Procurement Officer of WISCO, expressed this year was the second development year for WISCO Group to implement the 12th Five-Year Plan , which is also crucial year for WISCO Group to cope with much adversities by applying “Go Global” strategy. He hoped both of the companies would implement technical exchanges on a regular and irregular basis, cooperate with each other in improving development of products and broaden areas of cooperation to achieve a win-win situation.