SM Group picked as preferred bidder for STX

A SM Group-led consortium was picked as the preferred bidder for STX Corp., the company said Tuesday. SM Group and three others made offers earlier last week to buy the cash-strapped STX, an

Banks' bad loans fall on risk management

Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding. This was followed by Korea Development Bank with 3.56 percent and NH bank with 1.36 percent. Banks disposed of 30.4 trillion won worth of bad

SM Group set to be picked as preferred bidder for STX

SM Group, a medium-sized shipping group in South Korea, is set to be picked as the preferred bidder for STX Corp. this week, industry sources said Thursday. According to the sources, SM Group and

Korean banks' net income falls 32% on corporate restructuring

8.9 trillion won amid the restructuring of Daewoo Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding Co. The KDB posted 3 trillion won in net losses in 2016, the largest deficit since

KDB chief rebuts criticism about its dependence on government

600 billion won from soon-to-be liquidated Hanjin Shipping and 400 billion won from STX Heavy Industries. As the main creditor of the financially-troubled Daewoo Shipbuilding & Marine Engineering, the

Banks' loan delinquency rate dips on seasonal effect

0.77 percent in December, the first time in a year that its posted a zero percent level. The rate stayed in the 2 percent range between June and October last year after Hanjin Shipping Co. and STX

STX Shipbuilding ordered to compensate shareholders for accounting fraud

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

Appeals court clears ex-Navy chief of corruption charges

criticism. Separately, Chung is on trial for another corruption charge that he pocketed kickbacks from two former affiliates of STX Group in 2008. (Yonhap)

M&A deals in 2016 halves in value due to political scandal: report

stake in STX Offshore & Shipbuilding by its creditors worth $ 3.6 billion via a debt to equity swap transaction and the 29.7 percent stake purchase of Woori Bank by an investor group all based in South

[Superrich] From poultry farmers to conglomerate chiefs

taking over the country’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