Tasameem STX Construction

What Tasameem STX Construction does

Tasameem STX Construction (operating under the brand NS Engineering & Construction, formerly STX Construction / 에스티엑스건설 주식회사) is a South Korea-headquartered general contractor operating across five business domains: architecture (건축사업), residential housing (주택사업) including the STX KAN apartment sub-brand, civil engineering (토목사업) covering roads, railways, bridges, ports and land development, plant/industrial facility construction (플랜트사업), and overseas projects (해외사업). The company provides total project lifecycle services spanning planning, development, design, construction, and after-sales support, and holds ISO 9001, ISO 14001, and KEPIC certifications. Its operating geography spans South Korea (HQ in Gimhae, Gyeongsangnam-do, with regional offices in Busan and Daegu) and a network of overseas branches and subsidiaries in China (STX Dalian Construction Co., Ltd.), UAE (Abu Dhabi), Saudi Arabia (Alcoba), Vietnam (Hanoi), Australia (Perth), Iraq (Baghdad), Ghana (Accra), USA (Guam), Singapore, and Russia.

The company generates revenue through competitive bidding for public infrastructure projects (roads, ports, public housing for clients including LH / Korea Land and Housing Corporation and municipal governments) and direct negotiation for private development contracts (residential complexes, commercial buildings, industrial facilities, theme parks such as Chuncheon Legoland Korea). Revenue recognition follows project completion milestones under a one-time project-fee model with no public pricing disclosed. Notable flagship projects include the STX Dalian shipyard complex, the UAE Abu Dhabi super-large housing complex (USD 180 million), the Chuncheon Legoland theme park, and multiple LH public housing mandates. The company is a wholly-owned subsidiary of SM Group (SM그룹), which acquired it through a pre-rehabilitation M&A in January 2022 following the company's second court-administered rehabilitation proceeding (entered January 2021, concluded July 2022). In November 2023, the real estate development business was spun off into a separate entity, STX Construction Industries Co., Ltd., with a simultaneous capital reduction from KRW 60 billion to KRW 35.57 billion. The current Representative Director is Kim Je-wook.

Strategic direction is anchored in the "Rebuild Value 2030" vision, which targets KRW 4 trillion in orders, KRW 3.6 trillion in revenue, and KRW 150 billion in operating profit by 2030, supported by five core strategies: competitiveness enhancement, customer satisfaction maximization, profit maximization, market expansion, and corporate social responsibility. The 2017 historical benchmark under prior ownership showed approximately KRW 8,700 billion in orders and KRW 1,200 billion in revenue with a BBB+ corporate credit rating from NICE평가정보, illustrating both the scale of the franchise prior to financial distress and the magnitude of the post-restructuring rebuild required.

Name

Tasameem STX Construction

Legal name

에스티엑스건설 주식회사

Website

https://stxconst.co.kr

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Tasameem STX Construction (NS Engineering & Construction) is a South Korean general contractor operating across architecture, housing, civil engineering, plant, and overseas construction for government agencies (e.g., LH) and private developers, owned by SM Group following a 2022 acquisition.

Ownership category

akta.pro rank

Product category

Construction Services

NAICS

Nonresidential Building Construction (2362), Commercial and Institutional Building Construction (23622), Industrial Building Construction (23621)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Operative Builders (1531)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

akta.pro secondary industries

Metals & Steel Mill Facility Construction (IMAFADAF), Chemical & Petrochemical Plant Construction (IMAFADAA)

Keywords

• Building construction services
• Residential housing development
• Civil engineering projects
• Industrial plant construction
• Overseas construction services

Headquarters

HQ city

Busan

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Construction Project Revenue: Revenue is generated through construction project fees from building, housing, civil engineering, plant, and overseas construction projects. The company bids on and executes public infrastructure projects and private development contracts, with revenue recognized upon project completion. The company has targeted revenue of KRW 3.6 trillion with operating profit of KRW 150 billion under its Rebuild Value 2030 vision.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Tasameem STX Construction is a general contractor that plans, designs, builds, and provides after-sales service for construction projects across five domains: architecture (commercial, public and intelligent buildings), residential housing (premium apartments under the STX KAN brand), civil engineering (roads, railways, bridges, ports, land development and SOC), plant/industrial facilities (ocean plants, eco-friendly plants, steel mills), and overseas projects (shipyards, housing complexes, industrial plants in China, UAE, Saudi Arabia, Vietnam and other markets). The company secures work via competitive public tender and direct private negotiation, executing projects through wholly-owned domestic offices and overseas branch offices.

Product overview

남선알미늄 건설사업부문 (NS Engineering & Construction) is a construction company operating as part of SM Group, offering comprehensive engineering and construction services across five core business divisions: Architecture Construction (건축사업), Residential Housing (주택사업) featuring the STX KAN apartment brand, Civil Engineering (토목사업), Plant Construction (플랜트사업), and Overseas Business (해외사업). The company provides total service from project planning, development, design, and construction to after-sales service, with operations spanning domestic Korean projects and international markets in China, UAE, Saudi Arabia, Vietnam, Australia, and Africa.

Differentiator

Problem solved

Functional benefit

Brands

• STX KAN: Premium apartment housing brand developed by STX Construction for residential developments across Korea.

Products and services

• Architecture Construction (건축사업) Building and architecture construction services for intelligent buildings, commercial facilities, and public buildings, executed for clients in Korea, UAE Abu Dhabi, China, and Vietnam.

Quantifiable outcome

• 8,700억 이상 수주 (2017년, 전년 대비 900% 증가)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Korea Credit Ratings ( NICE평가정보)minorOthersNICE평가정보 assigned STX Construction a corporate credit rating of BBB+ in late 2017, reflecting rapid recovery of creditworthiness following rehabilitation procedure conclusion.
• LL Development (엘엘개발 주식회사)coreStrategic or Co-development PartnerLL Development is the project developer (시행사) for the Chuncheon Legoland Theme Park project. STX Construction was selected as the general contractor in May 2018, with LL Development responsible for project development and financing, and STX responsible for construction execution.
• Partner/Subcontractor CompaniesminorChannel Partner/ Reseller/ DistributorSTX Construction recruits partner/subcontractor companies across 47 construction trades (외주 및 자재 47개 공종). Requirements include credit rating B or above, cash flow grade C+, debt ratio below 250%, and minimum 3 years of business operation or relevant professional contractor license.

Scale indicators13 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Daewoo E&C: Korean contractor with strong civil engineering, building, and overseas construction lines, including Middle East plants. Comparable to STX's legacy in international/bid-build projects and post-restructuring recovery narrative.
• GS E&C: Korean general contractor with residential (Xi apartment brand), civil/plant, and overseas operations. Closely comparable to STX's premium-housing, civil, and plant service lines, both domestically and internationally.
• Hanwha Engineering & Construction: Korean general contractor active in building, housing, civil, and plant construction. Directly comparable to STX's five-domain service portfolio and chaebol-adjacent positioning.
• Samsung C&T (Engineering & Construction): Major Korean chaebol contractor with global building, civil, and plant operations including iconic overseas projects. Comparable to STX's overseas-led growth strategy and cross-domain scope.
• Hyundai Engineering & Construction: South Korea's largest general contractor with multi-domain capabilities (building, housing, civil, plant) and deep overseas operations across the Middle East and Asia. Directly comparable to STX's five-domain service model and global footprint.
• DL E&C: Korean construction firm spanning building, civil, and plant domains with overseas execution capability. Comparable to STX's multi-domain structure and mixed public/private customer base.
• Posco E&C: Korean construction firm with strong positions in steel-plant/industrial construction and civil engineering. Comparable to STX's plant construction business and civil engineering line.
• Taeyoung Engineering & Construction: Mid-tier Korean general contractor with civil, building, and plant capabilities. Comparable to STX's multi-domain but smaller-scale positioning in the Korean market.

Broad incumbents

• HD Hyundai Heavy Industries (Plant/Construction arm): Global industrial plant and shipyard contractor with adjacent marine/offshore plant capabilities. Comparable to STX's plant and offshore/shipyard execution heritage from STX Dalian.

Emerging players

• Hoban Construction: Smaller Korean contractor with residential and select civil/building exposure. Comparable to STX's scaled-down, post-restructuring position in the Korean market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tasameem-stx-construction

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tasameem STX Construction