POSCO Int’l CEO Jeong Tak meets with Ukraine’s Prime Minister Denys Shmyhal and others. (Image courtesy of POSCO International)
SEOUL, Nov. 16 (Korea Bizwire) – POSCO International is venturing into Ukraine’s postwar reconstruction, commencing with the establishment of a modular plant.
The announcement came on Wednesday when CEO Jeong Tak signed a Memorandum of Understanding (MOU) with Governor Vitalii Kim of the Mykolaiv region for the construction of a modular building production facility.
Modular construction employs a block-like process where walls, windows, wires, and pipes are pre-manufactured in advance and then assembled on the construction site. This approach reduces construction time by up to 60 percent.
According to the terms of the MOU, POSCO International will set up a modular structure plant in the Mykolaiv region, supporting the prompt restoration of essential social infrastructure, such as houses and schools, using a modular approach.
At the group level, POSCO intends to focus its capabilities on the Ukraine modular supply project. The POSCO Group plans to enhance its Ukraine venture by integrating POSCO steel products with POSCO A&C’s engineering technologies and leveraging POSCO International’s local networks and bargaining power.
CEO Jeong Tak signed a Memorandum of Understanding (MOU) with Governor Vitalii Kim of the Mykolaiv region for the construction of a modular building production facility. (Image courtesy of POSCO International)
Notably, POSCO A&C is a company capable of commercializing the entire process of modular structures, from design to production and engineering. Among local companies, POSCO A&C boasts the largest modular housing track record, including the nation’s first modular apartment complex, Cheongdam MUTO, SH’s Gayang Lipoom, and LH’s Ongjin Baekryong apartment complex.
POSCO International already operates a grain terminal in the Mykolaiv region, establishing a robust local network. Building on the MOU, POSCO International plans to expand its business scope in Ukraine from the grain business to the infrastructure sector.
J. S. Shin (js_shin@koreabizwire.com)
