POSCO Future M will invest at least $400 million in Song Cong 2 Industrial Park in Thai Nguyen province, northern Vietnam, in order to build its first large-scale battery materials manufacturing facility in Vietnam.

Viglacera, an industrial real estate firm in Vietnam and the investor of Song Cong 2 Industrial Park, and the South Korea firm recently signed a land lease agreement for the move, Viglacera announced last weekend. The project is POSCO Future M’s first overseas cathode materials production base.

According to the signed agreement, the project will cover 37 hectares of the 300-hectare industrial park. Construction is expected to begin in the second half of 2026, with commercial production targeted for 2028.

The facility is designed to have an annual capacity of 55,000 tons and will supply battery materials to electric vehicle manufacturers in the United States, the European Union, and South Korea.

POSCO, founded in 1968, has expanded beyond steel into sectors including energy, automotive components, and battery materials. Its subsidiary, POSCO Future M, is among the few companies in South Korea capable of producing both cathode and anode materials, positioning it as a key player in the global supply chain for electronics and electric vehicles.

Viglacera, the developer of the industrial park, has attracted over $20 billion in investment from global manufacturing and technology companies. Notable investors are Samsung, Amkor, Hyosung, Hana Micron, Foxconn, BYD, THK, and Canon.

Korea’s POSCO Future M to invests $270M in battery materials plant in Vietnam