STX Group targets $21 billion by 2010

STX Group, a mid-sized Korean conglomerate, said yesterday it plans to record 20 trillion won ($21.5 billion) in sales by 2010, up from an earlier target of 15 trillion won.
STX Group has four major subsidiaries: STX PanOcean Co., STX Shipbuilding Co., STX Engine Co. and STX Energy Co.
According to the group’s business plan, STX PanOcean will step up efforts to bolster its market share by expanding its fleet while trying to diversify into such high-end businesses as liquefied natural gas carriers and super oil tankers. The group also said it will strengthen efforts to establish an additional 30 overseas offices and subsidiaries by that year. Currently, the group has 45 overseas operations and earns more than 70 percent of its sales through exports.