S.Korea's STX to invest additional $800 mln in China

Newswire

SEOUL, April 1 (Reuters) - South Korea's STX Corp. said on Sunday it planned to invest an additional $800 million in China by 2009 as it set up a shipbuilding unit to cut labour costs. STX, a holding company in an energy-to-shipping group, also said that it was considering listing STX Pan Ocean , its Singapore-listed shipping unit, on the Korea Exchange (KRX) next year at the latest. "STX will invest $1 billion in the China's shipbuilding unit by 2009 as it is better to build cheap ...

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