China’s private owned Hongcheng Stainless Steel Co. attempts to build up a stainless steel distribution center in South Korea in 2008 after a capacity expansion by the end of 2007.

The company mainly supplies its products to overseas markets. The new facility in South Korea will be invested more than US$3 million.

Hongcheng will triple its production capacity to 60,000-70,000 tpy by 2007, and mostly produce stainless steel angles and flat bar now. The company is planning to launch production for stainless medium plate and seamless tube.