Oil refiner S-Oil reported 410.7 billion won ($357 million) in net profit for the year's second quarter — a turnaround from the same period last year when it was in the red.
Oil refiner GS Caltex opened its first “Energy Plus Hub” in Seocho, southern Seoul, on Wednesday. The hub will include a gas station, electric vehicle (EV) chargers, car sharing collection point and logistics facilities designed for drone delivery.
Some Korean businesses are hopeful that a Joe Biden administration will boost their prospects, given the president-elect’s aggressive environmental policies. Others are worried about the very same green initiatives that have been proposed.
For petrochemical companies, their negative impact on the environment has always been an issue. SK Innovation CEO Kim Jun said it’s time the company puts the environment at the center of its business.
S-Oil, one of the Korea’s top four oil refiners, said Wednesday that it donated 280 million won ($229,000) to Korean National Council on Social Welfare for a campaign.