SEOUL, Oct. 9 (Korea Bizwire) – South Korea has seen no major impact from the Israel-Palestine conflict on the country’s imports of crude oil and natural gas, the trade ministry said Monday. Officials from the Ministry of Trade, Industry and Energy, the state-run Korea National Oil Corp. and the Korea Gas Corp held an emergency [...]
POSCO is connecting with younger audiences by creating unique content, “Fantasteel – The Beginning of the New Iron Age,” in partnership with Nexon’s online game “Wars of Pracia”. SEOUL, Oct. 9 (Korea Bizwire) – Businesses in the so-called ‘junghujangdae’ industries, unfamiliar to the general public, are striving to craft a friendly image by creating compelling [...]
SEOUL, Oct. 3 (Korea Bizwire) – Gas stations are undergoing a transformation, evolving from spaces where vehicles are refueled with gas to multifunctional spaces with a variety of features. The profitability of gas stations has been on a downward trend due to the widespread adoption of electric vehicles (EVs), prompting gas station operators to seek ways [...]
SEOUL, Sept. 29 (Korea Bizwire) – Major South Korean refiners are expected to post a turnaround in their third quarter earnings, recovering from losses and dismal profits in the previous quarter, on the back of stronger margins amid rising oil prices, according to analysts Friday. SK Innovation Co., the energy unit under SK Group, is [...]
SEOUL, Sept. 5 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Tuesday it has supplied Finnish refiner Neste’s renewable aviation fuel to Korean Air Co.’s cargo plane bound for Los Angeles. It is the first time for a Korean refiner to bring sustainable aviation fuel (SAF) from overseas for the [...]
SEOUL, Sept. 5 (Korea Bizwire) — SK Enmove Co., the lubricant-making unit under South Korea’s SK Group, said Tuesday it will focus on the development and manufacturing of energy-efficient fluids for use in electric vehicles (EVs) and data centers as part of its next growth drivers. SK Enmove unveiled its new brand for all e-fluid [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s oil-refining industry reported disappointing second-quarter results due to weak oil-refining margins, although lubricants acted as a supporting factor. During the second quarter of this year, SK Innovation Co.’s lubricant sales amounted to 1.1 trillion won (US$869 million), representing only 5.9 percent of its total sales. Despite this, [...]
SEOUL, July 28 (Korea Bizwire) — SK Innovation Co. said Friday it turned to the red in the second quarter as falling oil prices and thinner margins hurt its profitability. The company logged an operating loss of 106.8 billion won (US$83.2 million) in the April-June period, compared with the 2.32 trillion-won operating profit a year [...]
SEOUL, July 25 (Korea Bizwire) — POSCO International Corp. said Tuesday it signed a contract with the Indonesian government and its state oil company to search and extract oil and gas in the Southeast Asian country, as it bolsters the push for energy and resources development. The production sharing contract (PSC) with Jakarta and state-owned [...]
SEOUL, May 19 (Korea Bizwire) — South Korean refiner HD Hyundai Oilbank Co. has announced its plan to sell DEVELON mini excavators at its gas stations. This initiative, in collaboration with construction machinery manufacturer HD Hyundai Infracore Co., aims to expand the sales channels for mini excavators and generate revenue through brokerage fees. Mini excavators [...]