S-Oil Korea's most respected company for 6th straight year

Industry

Published: 27 Feb. 2024, 17:52 Updated: 27 Feb. 2024, 19:27

S-Oil Korea's most respected company for 6th straight year

S-Oil's Senior Vice President Seo Jung-kyu, right, and Korea Management Association Consultants (KMAC) CEO Han Soo-hee pose for a photo on Tuesday after the oil refiner was named the most respected company in Korea. [S-OIL]

S-Oil was named the most respected company in Korea by Korea Management Association Consultants (KMAC), retaining the title for the sixth consecutive year.

The Korean oil refiner also ranked No. 1 in the domestic oil refining business to hold the position for the eight straight year.

KMAC, a management consulting firm, evaluates companies annually based on six criteria including their ability to innovate, customer value and brand image.

Under the Vision 2030 to become “the most competitive, creative and clean energy & chemical company,” S-Oil has been working to institute an efficient business portfolio that balances its oil refining, petrochemical and lubricants business, the company said.

Other efforts include incorporating environmental, social and governance (ESG) management to achieve a sustainable society, creative brand marketing centered around customers, talent-fostering and investment in the digital transition and infrastructure based on new energy trends.

S-Oil also believes its $7 billion Shaheen project, a large-scale refinery construction project in Ulsan with a 2026 completion goal, will further stabilize the company’s business structure.

The company is the sole Asian oil refiner to be listed on the Dow Jones Sustainability World Index (DJSI World) for the 14th consecutive year, based on various efforts toward a carbon emissions reduction, corporate social responsibility (CSR) and ESG activities.

DJSI World is a global sustainability benchmark published since 1999 that measures the performance of companies using ESG criteria.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]