STX Metal's Huge Progress
Pres. Yu wins an order for boosting reputation of the company with diverse engine parts and shipbuilding equipment
President Yu Chun-il of STX Metal clinched the Order of Industrial Merit, Bronze Tower for expanding exports of the company's engine parts by 86 percent to $627 million this year and for playing a key role in the development of the nation's shipbuilding and maritime shipping industries over the past 23 years of his career, beginning in 1988 with the now defunct Ssangyong Heavy Industry.
He was named to head the company, a key component of the STX Group, during the financial crisis and has been able to lead the company to overcome the crisis in a short time with his sincerity and ability to understand the situations facing the company.
In order to diversify the company's main business of producing ship engine parts, he led the company to become independent in terms of technology to make the company more competitive.
STX Metal's diesel engine core material and parts, ship supercharger, and industrial machinery material and parts, including other shipbuilding materials supplied by the company to global shipbuilders and engine makers, enable their ships with those material and parts to navigate through all parts of the world 24-hours daily, boosting the value of shipbuilding and engine industries.
As a result of the company's extensive efforts to expand its market, it has been able to increase the number of its major customers including Navantia Shipbuilding of Spain; Huisman of the Netherlands; Kolomensky Zvod, the largest railroad company in Russia; Siemens'wind power unit; JSW of Japan; and Gyan of China, thus increasing its exports in the past three years by 48.4 percent with the cargo oil pump its largest export item.
The company diversified its export products from just engine parts and shipbuilding equipment to wind power machinery, offshore plants, rail car parts, power generation equipment, and others. The company has also been investing heavily in its R&D activities to develop technologies and has produced a high-caliber, next-generation environmentally friendly sub-cargo pump system, piston, and large crankshaft, among others.
The company continues with its R&D efforts to find new growth engines and to sustain its growth in diverse areas and to accumulate new technologies, in particular, in the area of green technology and products in order to diversify its products and customers.
In June 2005, the company was acknowledged by the Ministry of Knowledge Economy as the maker of the top-class 4-ST Turbo Charger. The following year, the MKE named it the maker of the world-class 4-ST Crankshaft and 2-ST CYL LINER . In December 2008, the company was named again as the maker of a next generation product, the world-class Sub-Cargo Pump System. The company has been making efforts to continue to localize more of its shipbuilding equipment production. nw
President Yu Chun-il of STX Metal, a major affiliate of STX Group. President Yu, 4th R,who won the Order of Industrial Merit, Bronze Tower, stands among the winners of medals on the 48th Trade Day ceremony held at Coex in Seoul, on Dec. 12.
Photos on courtesy of KITA, STX Metal