SEOUL, KOREA- POSCO ICT announced on October 1 that it has established a local subsidiary “POSCO ICT Vietnam” in Vietnam, aimed at making forays into the country’s IT market.In Vietnam, the POSCO Group unit is now engaged in a Ho Chi Minh Urban Railway construction project, worth 1 trillion won, and a raw material processing facility construction project in Ha Tinh Steel, which is now being built by Taiwan’s Formosa Group.

A POSCO ICT official said, “Along with the rapid growth of the Vietnamese economy, a variety of SOC construction projects are actively underway there, including the construction of new residential towns, highways, railways, and power plants.”

With the opening of a new rep office in Vietnam, the IT service company aims to make bigger forays into the country’s IT market, while preparing a support system that is near to POSCO’s overseas production bases.