By Ryu Jin
Staff Reporter
With a track record of 500 ships built over the last 40 years in Busan and Jinhae, STX Shipbuilding now seeks to be the world's best through newly implemented innovation programs in tune with changing markets.
Based on its wealth of experience and technical efficiency, it has been the driving force behind the nation's transformation into a major maritime power and a leader in the shipbuilding industry.
Consequently, STX Shipbuilding has become one of the representative shipyards of South Korea, the shipbuilding powerhouse of the world. STX Shipbuilding owns specialized facilities and layout for building ships in the 30,000 to 80,000 ton class.
In particular, STX Shipbuilding excels, setting the global standard, in designing and building product carriers, container ships and liquefied petroleum gas (LPG) carriers.
In addition, through vertical integration with STX Corporation, the holding company, it has further solidified its business structure.
STX Shipbuilding plans to expand its business to include highly lucrative types of ships such as pure car carriers and ferries while trying to launch new services like special ships, offshore and plants and REITs to strengthen its business structure.
In 2003, STX Shipbuilding listed its shares on the Korea Stock Exchange and went public. Company officials said, through transparent management, the company would try its best to keep its shareholders, customers and employees satisfied.
STX Shipbuilding is one of the affiliates of STX Corporation, which has emerged as one of the country's top 5 heavy industry players in about six years since its launch in 2001 with its business areas ranging from resources development to steel and machineries.
``STX Shipbuilding is a company with dreams and future,'' STX Corporation Chairman Kang Duk-soo said. ``Since 1962, it has contributed much to the development of the shipbuilding industry with outstanding technologies and excellent productivities.''
He added that the company has completely changed its management system to be more active and progressive so that it could create new values by fortifying the core strength of each business division and maximizing competitive advantages.
``With the spirit of creativity and challenge, STX Shipbuilding will practice business precepts of customer-oriented, speedy and technological management,'' he added. ``STX Shipbuilding will be a part of your dreams and future.''
STX Group now earns more than 70 percent of its sales from exports to which STX Shipbuilding remains a significant contributor. Kang set an ambitious sales target 20 trillion won ($2.1 billion) by 2010, almost double the current figures.