SEOUL - POSCO Co, the woeld's No.4 steelmaker, said it has not yet found a suitable site to build a steel mill in Vietnam after its earlier proposal to build a plant in Van Phong Bay was rejected.

The Vietnamese government had asked the South Korean steel company to pick annother area, citing environmental reasons and other projects.

"We have been studying other sites, but have not yet chosen a location," POSCO told the Korea Exchange in a filing.