S-Oil set to build new center for research in western SeoulS-Oil, the nation’s third-largest refiner, said yesterday that it plans to build a technical service and development center in the Magok Industrial Complex in western Seoul. Nasser Al-Mahasher, the S-Oil CEO, signed the contract yesterday with Seoul Mayor Park Won-soon at City Hall, which allows the company to build the center across an area of 29,099 square meters (313,000 square feet).
S-Oil said it pushed to build the center to bolster its research and development functions. The refiner plans to conduct research related to the production of high value-added petrochemical materials.
“We will conduct research activities to the highest standard in and out of the country in the petrochemical material field by making the best use of high-quality infrastructure for research and development activities in Seoul, which is the heart of the economy, academics and culture,” Al-Mahasher said.