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• Global Sae-A Completes Acquisition of Ssangyong E&C

  ...n operating profit by 2025). This acquisition adds further diversity and synergy to Global Sae-A Group's affiliates which include Sae-A Trading (Textiles & Apparel), Tailim (Paper & Packaging), Sae-A...that "over the past seven years, under ICD's ownership, Ssangyong has successfully expanded its business in Korea and around the world and has accomplished many milestones and developed several landma...

• On presidential pardon, Lotte chief vows investment in biotech, hydrogen

  ...ity and sustainability -- and core industry segments including chemicals, retail and the travel business. Shin stressed the company will pour 15 trillion won into the four new business sectors alone. ...er the employment restriction, however, he was on parole for bribery until October 2023. Other business leaders set to be pardoned are Chang Sae-joo, Dongkuk Steel Mill Chairman, and former STX Group...

• Sale of 3 midsized shipbuilders in final stage

  ...d the COVID-19 outbreak. The midsized shipbuilders -- Hanjin Heavy Industries & Construction Co., STX Offshore & Shipbuilding Co. and Daesun Shipbuilding Engineering Co. -- were put up for sale last ...) deal with Dongil Steel Co. to sell the midsized shipbuilder on Dec. 29. Dongil Steel promised to keep up the shipbuilding business and hire all employees of the shipbuilder, Eximbank said. (Yonhap)

• STX Corp. signs coal trading deal with Russia's Mechel

  STX Corp., a South Korean general trading firm, said Monday it has signed a deal with Russian mining giant Mechel PAO to import coal and coke produced in the Kuzbass mines in Kemerovo, Russia. Under...mbique. STX Corp. was put under a creditor-led restructuring scheme in 2014 in line with the demise of its parent STX Group. The Chinese private equity fund AFC bought the company last year. (Yonhap)

• STX's investment deal

  STX Corp. CEO Park Sang-jun (right) shakes hands with KA Group chairman Abdulghani during a signing ceremony for the agreement on the group's CB investment of $5.5 million in the Korean corporation in Seoul on Friday. KA Group, as the strategic partner of STX, has been supporting local business in the Middle East including Iraq. Business cooperation between two companies will be expanded to Euro...

• SK Group affiliates sweep list of top salary payers

  SK Group affiliates dominated the list of top-paying companies last year, especially its chemical units, which occupied the top four spots, corporate data showed Monday. Corporate tracker CEO Score reviewed the annual salary of 324 firms among the top 500 companies by sales who had submitted business reports in 2017. Results showed the biggest payer was SK Energy, whose average yearly salary was...

• 36 conglomerates to face debt assessment

  ... Bank and NongHyup Bank. Among them, Woori Bank was the creditor of 13 groups, including Samsung Group, LG Group and CJ Group -- three of five of the largest business groups in Korea. KEB Hana Bank e...d the number of large business groups in South Korea decreased from 39 the previous year. Four business groups were not included in the list this year. STX Offshore & Shipbuilding and Hyundai Group w...

• Top court confirms four-year term for ex-Navy chief for bribery

  ...years in prison for taking kickbacks from defense contractors. Jung Ok-keun, chief of naval operations from 2008 to 2010, was indicted in March 2015 for pressuring two affiliates of the now-defunct STX Group in 2008 into offering 770 million won ($671,726) to his son's yacht firm in return for business favors. Ending a two-year legal battle, the Supreme Court confirmed his conviction of third-party b...

• SM Group chief eyes more takeovers

  SM Group will acquire more companies, including overseas shippers, to beef up its status in the sector, its chief said Monday. The midsized South Korean shipping group has been taking over a series ...l and cars, and its financial status drastically improved after being taken over by SM Group. SM Group also has bought other companies, including TK Chemical and Namsun Aluminum. The business mogul ...

• STX Shipbuilding ordered to compensate shareholders for accounting fraud

  ...shareholders for losses they suffered due to its accounting fraud, court records showed Wednesday. The Seoul Central District Court ruled in favor of 290 plaintiffs who sued the shipbuilder, former STX Group Chairman Kang Duk-soo and the accounting firm Samjong KPMG, and ordered the defendants to pay a total of some 4.9 billion won ($4.2 million) in damages. The court said Kang, who led the group from 2003 to 2014, created and announced forged business reports and financial statements. "The plaintiffs bought STX Shipbuilding's shares, trusting the audit report and suffered losses due to t...