STX adds solar power to its diverse offerings

Seoul: Korea Times reported that STX Corporation, STX Shipbuilding's parent, is branching out into solar power development, an area dominated by big conglomerates. In order to follow the latest pitch by shipbuilders toward alternative renewable energy businesses, the group's affiliate STX recently signed a MoU with the regional city of Gumi to set up a 50 MW solar cell plant on a tract of 57,949 square meters.
Kang Duk Soo chairman of STX Group said that "There may be a lot of competition in the downstream operations involving solar power, but we believe there will be a lot of money to be made for a long time to come."  [2/9/08]