STX Group is to set up internship programs for Saudi Arabian students, the conglomerate announced Wednesday.The group, the country’s 12th largest business group, signed a memorandum of understanding regarding the issue with the Saudi Arabian Culture Mission to Korea at the group’s office in Seoul.Under the agreement, the group will offer internship programs at its subsidiaries including STX Offsho

DALIAN, China ― On Friday, STX Group announced the “Vision 2020” at its shipyard in Dalian, China at an event celebrating the group’s 10th anniversary. The group hopes to become one of South Korea’s seven largest conglomerates with combined sales of 120 trillion won ($112 billion) by 2020.STX Group Kang Duk-soo, however, says that he has his eyes set on the global market. STX Group chairman Kang D

DALIAN, China ― STX Group aims to become one of South Korea’s seven largest conglomerates in terms of assets by 2020, the company announced in Dalian on Friday.The business group revealed its “Vision 2020” plan to coincide with the conglomerate’s 10 year anniversary event held in the Chinese city. Among other things, the plan calls for increasing the group’s annual sales to 120 trillion won ($112

Combined debts of Samsung, Hyundai Motor grow by 89 trillion wonThe nation’s 30 biggest business groups saw their combined debts snowball over the past three years, which could undermine their financial soundness, the Fair Trade Commission said on Sunday.According to the antitrust regulator, debts held by the top 30 groups came to 1.03 quadrillion won ($925 billion) as of March 2011, up 51.2 perce

Kwon Hyuk, a reclusive shipping tycoon, shows how to get around paying taxes in and out of more than five trading borders while keeping over 10 trillion won ($9 billion) in assets.Register your business at a tax haven, stash all your profits there, and pretend you live abroad. Minimize paperwork. Even better if you can avoid the press.Kwon has been the main target of the Korean government’s latest

Ideally geo-strategically located in South Asia, Pakistan is your access to the energy rich Central Asian Republics, the affluent Gulf States and the hi-tech and economically developed Far East. In addition to the available extensive rail and road network, Pakistan has developed Gwadar port and is constructing a network of highways which would link up adjoining regions to Central Asia. There are p

By Shin Hyon-heeKorea’s government and companies will open a grain trading company in Chicago next month, speeding up efforts to ensure stable supply and cope with price swings, a source close to the matter told The Korea Herald.The state-run Korea Agro-Fisheries Trade Corp. (aT) said in January it and large local firms will launch the joint corporation this year to establish a national grain proc

More than one in 10 overseas corporations owned by Korea’s 30 major conglomerates are based in tax havens, a website reported on Monday.According to online data service provider chaebol.com, Korea’s 30 major business groups operate 231 subsidiaries in tax-havens such as Hong Kong, Luxembourg, Bermuda and the Cayman Islands.Samsung Group topped the list with 38 units in tax havens including Hong Ko