STX CEO Park Sang-jun Visits PK Valve, "We Will Spare No Support to Grow into the World's No.1 Valve Company"

CEO Sangjun Park (STX / STX Marine Service) Visits PK Valve, a Valve Manufacturer Subsidiary Acquired by STX Last Year with 41% Stake

Park Sang-jun, CEO of STX Group, visited PK Valve, a subsidiary and the largest comprehensive valve company in Korea, on May 28th to encourage local employees and review strategies for securing orders of cryogenic valves for LNG carriers, the construction of an LNGC butterfly valve factory, and investment plans for the development of special valve technologies.

Above all, he focused on inspecting the construction site of the PK Valve butterfly valve factory, which has expanded due to the recent increase in orders for cryogenic valves for LNG carriers. In addition, he shared and discussed with employees of STX Co., Ltd. and STX Marine Service, a comprehensive engineering service company, plans for investment in new technology development such as hydrogen valves and strategies for entering emerging valve markets including the Middle East.

PK Valve, which became part of the global business platform STX last year, has a production system capable of handling all processes related to valve manufacturing in a one-stop manner. It is the largest industrial valve specialist company in Korea, supplying a wide range of high value-added industrial valves worldwide, including valves for nuclear power plants and onshore and offshore plants. In particular, with the recent global surge in demand for LNG carriers, PK Valve's orders for cryogenic valves for LNG carriers have increased about tenfold within a year. In fact, PK Valve supplies about 90% of new ships, including those from the three major domestic shipbuilders, solidifying the 'PK' brand's position in the valve industry.

Last year, the STX consortium (STX Co., Ltd. - STX Marine Service) acquired PK Valve, Korea's number one industrial valve specialist company (holding 41% stake), and announced its goal to grow it into the global No.1 valve specialist company by leveraging PK's technological competitiveness, STX's powerful brand power, and global network synergies.

STX Group views CEO Park Sang-jun's recent visit to PK Valve as not only accelerating the realization of these mid- to long-term goals but also as a valuable opportunity to promote chemical integration between STX Group and PK Valve and to share sustainable growth strategies between the two companies.

CEO Park Sang-jun stated, “We will spare no support to ensure that PK Valve, the new family of STX Group, can sustain growth through continuous R&D for new technology development and pioneering new valve markets,” and added, “I will pay special attention to ensuring that employees who do their best in their respective positions can work in safer and more comfortable working environments.”