According to the report, South Korean Seah Steel planned to expand its plant in Vietnam. It was estimated that 40 billion won will be invested to expand its second Vietnam plant SSV as one of the measures for global trade barriers.

Seah Steel expanded its Vietnam plant primarily to meet US trade terms and enjoyed the positive factors of rapid economic development in Southeast Asia.

The SSV plant was located in Dong Nai province, and the related expansion project was scheduled to be completed in March next year. By then, the plant's annual production capacity was estimated to increase to 312,000 tons roughly, compared to the current production capacity of 240,000 tons.

After the expansion, the SSV plant will become Seah Steel's production base in Southeast Asia. The plant's annual capacity utilization rate was as high as 81% this year, which was a record high.

In addition, Seah Steel's pipe factory located in Haiphong City sold its 100% output to the Vietnamese market, with a capacity utilization rate increasing to 71.7%.