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• 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...

• More documents found in Cheong Wa Dae could revive old scandals

  ... reportedly concern the construction of Lotte World Tower in southern Seoul by retail giant Lotte Group, and include information on dealings involving a former Navy chief and the defunct STX Group. “...sible links with the corporation. No evidence supporting such allegations was uncovered. The STX Group document is thought to contain information about the former Navy chief pressuring the business g...

• 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. Jung Ok-keun, chief of Naval Operations from 2008 to 2010, arrives at the Seoul Central Dis...

• 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

  ...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 p...al of some 4.9 billion won ($4.2 million) in damages. (Yonhap) The court said Kang, who led the group from 2003 to 2014, created and announced forged business reports and financial statements. "The...

• [Superrich] From poultry farmers to conglomerate chiefs

  When poultry farming was a promising business in the mid-1970s, there were two high school students in the Jeolla provinces showing their business acumen from an early age. One was Kim Hong-kuk, a s... fourth-largest shipping company Korea Line, which was undergoing legal management in 2013. Harim Group took over STX Group’s core subsidiary Pan Ocean in 2015 and entered the shipping business as wel...