SEOUL, May 15 (Korea Bizwire) — South Korean oil refiners, led by top player SK Innovation Co., logged decent earnings in the first quarter of the year on the back of robust petrochemical business, and expect their bottom line to remain firm under the current quarter thanks to the recovery of their refining margin, industry [...]
SEOUL, May 23 (Korea Bizwire) – South Korea is increasingly bringing in African crude oil, as its prices have become more attractive due to competition with shale gas, refiners here said Sunday. Seoul imported 9.6 million barrels of African crude oil and “condensate,” a type of ultra-light crude, in the first quarter of this year. [...]
SEOUL, June 3 (Korea Bizwire) — South Korea’s consumption of refined oil products rose solidly this year on low crude prices, industry data showed Wednesday, providing some relief to local refiners struggling to cope with slumping exports. Domestic consumption of refined petroleum products reached 283.7 million barrels in the January-April period, up 4.7 percent from [...]
SEOUL, March 17 (Korea Bizwire) — South Korean companies’ earnings for 2014 dropped sharply on weak domestic demand and the strong local currency, but their bottom lines were found to have actually improved when tech giant Samsung Electronics and oil refiners were excluded from calculations, data showed on Tuesday. According to the data compiled by [...]
SEJONG, Feb. 10 (Korea Bizwire) – South Korea’s antitrust watchdog said Tuesday it will abide by a Supreme Court ruling that would force it to give back 119.2 billion won (US$109.2 million) it took as fines from two local oil refiners who were accused of distorting free market competition. The court overturned actions taken by [...]
“The Ministry of Trade, Industry and Energy said on January 1 this year there will be additional job creation effects of 14,000 more jobs as well as foreign investment of more than 2.3 trillion won. For 11 months since the law’s revision, however, there has been almost no new foreign investment.” “The number of new [...]
![[Kobiz Feature] Hard Times to Be a Gas Station Owner](http://koreabizwire.com/wp/wp-content/uploads/2014/02/12405694_m-800x533.jpg "[Kobiz Feature] Hard Times to Be a Gas Station Owner")
SEOUL, Korea, Jan 9 (Korea Bizwire) – Only a decade ago, anyone who owns a gas station was considered one of local worthies. But today gas station operators are having a hard time even to stay in the black. Some of them go out of business or try hard to sell their properties before it’s too late. [...]