lubricants Archives | Be Korea-savvy

Lubricants Act as a Supporting Factor for S. Korean Oil Refiners

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, [...]

S. Korea’s Lubricants Consumption Stagnates with Soaring Popularity of Eco-friendly Vehicles

SEOUL, Feb. 21 (Korea Bizwire) — South Korea’s lubricant oil consumption has remained stagnant for three years straight due to a shift in the nation’s car-buying trend towards eco-friendly vehicles. According to the Korea Lubricating Oil Industry Association, the nation’s lubricants consumption reached 976,000 kiloliters last year, up 4.6 percent from a year ago, but [...]