POSCO Int'l to build facility for modular in Ukraine

South Korea's POSCO International Corp. announced on Wednesday it plans to build a facility for modular in Ukraine. 

The company's Vice Chairman and CEO Jeong Tak visited Ukraine on Nov. 13-15 to discuss the post-war reconstruction of the nation. He signed a memorandum of understanding (MOU) with the Governor of Mykolaiv in Ukraine Vitalii Kim to establish a steel modular manufacturing plant. 

POSCO International emphasized the importance of rebuilding social infrastructure, such as housing, schools, and hospitals, in the aftermath of the war.

Modular construction, which involves assembling prefabricated components or modules on site, can shorten construction time by up to 60%, making it an ideal method for rapid reconstruction.

The company intends to leverage POSCO's steel products, POSCO A&C's engineering expertise, and its established local network and negotiating powers to advance its local business ventures.

Notably, POSCO A&C, an affiliate of the POSCO group, has the capability to manage the entire process of designing, manufacturing, and constructing modular structures.

The company has been actively involved in the Ukrainian modular construction project since its developmental stages.

POSCO International is operating a grain terminal in Mykolaiv. Following this MOU, the company expects to expand its business in Ukraine to include infrastructure projects, building upon its existing food business.

Write to Hyung-Kyu Kim at khk@hankyung.com