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STX Corporation

STX Corporation
Company typePublic
IndustryShipbuilding, Construction, Energy, Trade, Banking
Founded1976 → 2001 (Renamed)
HeadquartersJinhae, Korea Republic
Key peopleChairman Kang Duk-soo
Total assets$ 23 billion USD (2008 2Q)
Employees44,000 (STX Total) 2008
20,000 (STX Europe)
SubsidiarySTX Corporation
STX Offshore & Shipbuilding
STX Engine
STX Energy
STX Heavy Industries
STX Enpaco
STX Europe ASA
STX Dalian

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STX Corporation is a South Korean holding company engaged in the provision of trading services. Headquartered in Gyeongsangnamdo, South Korea, the company operates its business through two divisions: trade and ship maintenance. Its trade business division provides shipping and energy materials, coal, oil, steel and others. Its ship maintenance business offers cargo management, marine technical, insurance, crew management and other related services. The company had four local subsidiaries including STX Offshore & Shipbuilding, STX Engine, STX Heavy Industries, STX PanOcean and STX Energy. STX Offshore & Shipbuilding is the world's fourth largest shipbuilder, recently acquired Norwegian Shipbuilder Aker Yards in order to diversify their product line. As Europe's largest shipbuilder, Aker Yards has a technical background in cruise ship building. STX Group, formerly Ssangyong Heavy Industries, recently had an IPO of STX PanOcean. The IPO gave the group a substantial amount of cash to acquire Aker Yards.

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