Exclusive Meetings with Heads of State

Chmn. Kang of STX Group meets with Finnish parliamentary chairman and Congolese president to discuss matters on mutual cooperation

Chairman Kang Duk-soo of STX Group continues to hold meetings with heads of state around the world on the way to globalize the group’s operations.
Chairman Kang met with Chairman Saul Ninisto of the Finnish Parliament at the Lotte Hotel in downtown Seoul on April 1 and discussed major issues of interest and cooperative means between STX Group affiliates and Finnish firms. Present at the meeting were high-ranking Finnish government officials, a Finnish legislator and Finnish diplomats assigned to Seoul led by the ambassador and STX executives including Vice Chairman Lee In-seong of STX Offshore and Shipbuilding, President Hong Kyung-jin of STX Offshore and Shipbuilding and Vice President Kim Seo-joo of STX Corp., among others.
The Finnish parliamentary leader visited Seoul from March 31 to April 3 to meet with key government and Korean parliamentary leaders. STX Chairman Kang was the only Korean corporate leader he met during his visit in Seoul as a result of STX Group’s active operations in Finland, with STX Europe operating its shipyard in the Scandinavian country, enough to attract Chairman Ministo’s concern and interest in STX Group’s home base and its top leader.
STX Europe, part of the group’s global operations, now operates three shipyards in Finland; one in Turku, the others in Helsinki and Rauma, building super-passenger cruisers, ferries, offshore support vessels, naval ships and ice breakers, among other special ships.
Its Turku shipyard has been the top shipyard for building technologies for super cruisers in the world and delivered the Oasis of the Seas, the world’s largest passenger cruiser ever built, winning a strong reputation around the world.
In the meantime, a delegation from Congo including President Joseph Kabia Kabange, Foreign Minister Alexis Mwamba and Congolese Ambassador to Seoul Christo Ndmabo visited the STX Offshore and Shipbuilding shipyard in Jinhae and toured the shipbuilding facilities and also discussed various matters related to mutual cooperation with the STX Group and Congo.
The Congolese Chief Executive who came to Korea as a state guest expressed a deep interest in STX Group, which has been expanding its operations in Africa, and said he will depend on the Korean business conglomerate for various cooperative business ventures with Congo. Chairman Kang said STX is interested in the development of natural resources and power generation projects in Congo.
Kang visited Congo in October last year and called on Congolese Prime Minister Adophe Muzito to discuss a wide-range of matters related to business projects that STX would like to take on in the African country such as natural resources development and SOC projects. Kang also met with cabinet ministers in charge of natural resources and energy to share opinions on mutual cooperation for those projects.
STX Business Group announced its management goal for 2010 ― order receipts of 33 trillion won, turnover of 25 trillion won and an operating profit of 1 trillion won ― at its 2009 STX group’s board of directors meeting held on Dec. 23, 2009. The goal for order receipts of 33 trillion won and turnover of 25 trillion won for 2010 is greater than expected by 106 percent and 9 percent, respectively.
Based on expectations that the shipping and shipbuilding market will enter a state of recovery, it is expected that the Group’s order receipts will increase significantly over 2009. The Group also set a goal of achieving an operating profit of 1 trillion won in 2010.
In the meantime, the Korea Shipbuilding Association and STX Offshore and Shipbuilding signed an MOU on cooperation in the area of shipbuilding in the United Arab Emirates with Abu Dhabi Shipbuilding Co. in Abu Dhabi on Feb. 19 in the presence of second Vice Minister Kim Young-hak of the Ministry of Knowledge Economy representing the Korean government.
Under the agreement, STX will provide key technologies to Abu Dhabi Shipbuilding when it expands its shipyard including the construction of an integrated operation system and manpower training for the shipyard. The two shipyards will also cooperate in securing shipbuilding orders from other Middle East countries such as commercial vessels, naval ships, OSV vessels, among others, and the development of a shipbuilding market in the region. nw

(above photo) Chairman Kang Duk-soo of STX Group and Chairman Saul Ninisto of the Finish parliament shown together at a meeting on April 1 at Lotte Hotel in Seoul.STX Group Chairman Kang meets with the visiting Congolese President Joseph Kabia Kabange in Jinhae.