Chaebol Founder Dismantles Life’s Work as Slump Deepens

Chaebol Founder Dismantles Life’s Work as Slump Deepens

Seokyong Lee/Bloomberg

STX Group put the controlling stake of its shipping unit up for sale last week as it tries to raise 2.5 trillion won ($2.3 billion) to pay off debt. It’s already spent nearly a year looking for a buyer for its affiliated offshore-vessel maker.