The Korea Fair Trade Commission has approved HD Korea Shipbuilding & Offshore Engineering's acquisition of STX Heavy Industries, subject to conditions that prevent supply refusal and price increases for marine engine parts for three years to ensure fair competition. The merger of HD Korea Shipbuilding & Offshore Engineering, the leader in the marine engine and components market, with STX Heavy Industries, the third-largest player in the same sector, is set to significantly enhance H

South Korean trading company STX announced Thursday that it has inked a memorandum of understanding with the nation's largest commercial credit bureau NICE D&B to provide corporate information services on Trollygo, its business-to-business online trading platform which is set to be launched in the third quarter of this year. The signing event was held at NICE D&B’s headquarters in Mapo-gu, Seoul, on Wednesday, with top executives including STX CEO Park Sang-jun and NICE D&

JB Financial Group announced Thursday that it has named Senior Vice President Song Jong-keun as its new chief financial officer. An industry veteran, Song has extensive experience in finance and business management as well as a deep knowledge and understanding of the challenges facing the traditional banking industry, JB said. Born in 1965, he received both his bachelor's and master's degrees in international economics at Seoul National University before completing his MBA at the Unive

SEOUL, South Korea, Oct. 17, 2022 /PRNewswire/ -- On 14 October 2022, Global Sae-A signed a Share Purchase Agreement to acquire Ssangyong E&C (Engineering & Construction) ("Ssangyong E&C" or the "Company") from the Investment Corporation of Dubai ("ICD"). Global Sae-A office building Pursuant to the terms of the agreement, once the merger review process is completed and approved by the Korea Fair Trade Commission, and certain other co

Lotte Group Chairman Shin Dong-bin reiterated his plan for investment in biotech and hydrogen energy after his pardon was announced by South Korean President Yoon Suk-yeol on Friday. “We sincerely thank the government’s and people’s decision to grant a pardon. Chairman Shin Dong-bin and Lotte workers will contribute to overcoming the global crisis by boosting domestic industries and economy,” Lotte Group said. “The company will accelerate biotech, hydrogen energy

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 Europe and Asia as well as the middle East due to this investment partnership, STX officials said.&nb

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 152.2 million won ($142,376). It was followed by SK Global Chemical (147.1 million won), SK Incheon Pe

The Financial Supervisory Service announced Thursday that 36 conglomerates will be put under a capital structure assessment by their respective commercial lenders in a pre-emptive move to relieve the financial risks of the groups. FSS data showed the 36 enterprise groups were indebted by six banks -- Woori Bank, Korea Development Bank, KEB Hana Bank, Shinhan Bank, Kookmin Bank and NongHyup Bank. Among them, Woori Bank was the creditor of 13 groups, including Samsung Group, LG Group and CJ Group

The country's top court on Thursday dismissed a former Navy chief's appeal to a sentence of four 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 Dist

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 of financially troubled companies over the past few years, to emerge as a major player in the domestic shipping industry, currently under financial strain amid falling rates and a drawn-out slump in the global economy. SM Group chairman Woo Oh-heun (right) speaks during a press conference in Busan on J

A lower court has ordered cash-strapped STX Offshore & Shipbuilding Co. to compensate its minority 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.  (Yonhap)The court said Kang, who led the

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 student of Iri Agricultural High School in Iksan-si, North Jeolla Province. Born in 1957, Kim’s grandmother bought him 10 chicks when he turned 11. He sold the chickens once they grew up, and used the profit to buy more chicks. By 1975, he owned over 1,000 chickens -- and was also in his first year of h

A British investment fund has submitted a letter of intent to a local court to buy cash-strapped STX Shipbuilding Co. and its French unit up for sale, industry sources said Tuesday.The investment fund has offered to buy STX Shipbuilding and a 66.7 percent stake in its French unit, a deal valued at 1 trillion won ($852 million) in total, while French shipyard DCNS and two other foreign shipyards submitted initial bids for STX Shipbuilding only, which could fetch 100 billion won, the sources said.

[코리아헤럴드(더인베스터)=박한나 기자] 프랑스 국영 조선사 DCNS가 최근 매물로 나온 STX프랑스 지분 매각에 촉각을 곤두세우고 있다.19일 서울중앙지방법원은 기업회생절차를 진행 중인 STX조선해양과 STX프랑스의 매각 공고를 낸 가운데 DCNS가 유력 인수후보로 꼽히고 있다. 업계에서는 프랑스 해군용 항공모함, 잠수함, 콜베트함 등을 주력으로 생산하고 있는 DCNS가 STX프랑스 인수로 크루즈사업 진출을 노릴 것으로 예상하고 있다.  (사진=DCNS)이에 DCNS관계자는 21일 더인베스터에 인수의향에 대한 확답은 피했지만 “STX프랑스의 행보를 관심있게 지켜보고 있다”고 밝혔다. 현재 DCNS와 STX프랑스는 다목적 강습상륙함의 선체를 공동으로 제작하고 있다.이 관계자는 또 “향후 프랑스해군에 차세대 항공모함과 해상보급유조선 등을 공급하는데 있어 시너지를 기대한다”고 덧붙였다.서울중앙지방법원과 매각주관사인 삼일회계법인은 STX조선해양 지분 100%와 STX유럽이 보유한 STX프

[THE INVESTOR] France’s state-run shipyard DCNS is mulling a bid to acquire STX France, the French unit of South Korea’s troubled shipyard STX Offshore & Shipbuilding which is under court receivership, according to industry sources on Oct. 21. Since the Korean bankruptcy court announced on Oct. 19 that it would sell its entire stake in STX Shipbuilding and a 66.7 percent stake in STX France, speculation has been rising about potential bidders, including DCNS. The price of the package deal is est