Korea's oil refiners get creative in push to cut emissions The production complex of SK Incheon Petrochem, SK Innovation's subsidiary. [SK INNOVATION] Oil refiners are desperately looking for new opportunities to keep their business afloat as Korea pushes to become a “zero carbon” society. Korea has the fifth-largest oil refining capacity in the world, but

S-Oil forges partnership to capture carbon and use it for soft drinks, dry ice S-Oil officials check by-product gas pipelines at its Ulsan plant. The pipelines will supply gases to a nearby Dong Kwang Chemical facility, where carbon will be extracted, refined and then transformed into commercial products. (S-Oil) S-Oil has teamed up with a

Daewoo Shipbuilding wins W265b order for 3 LPG carriers This photo provided by Daewoo Shipbuilding & Marine Engineering Co. on Tuesday, shows an LPG carrier built by the shipbuilder. (Daewoo Shipbuilding & Marine Engineering Co.)   Daewoo Shipbuilding & Marine Engineering Co. said Tuesday that it has signed a 265 billion-won ($234 million) deal to

S. Korea's export prices rise for 3rd month in February This photo taken March 2, 2021, shows container ships docked at a port in Busan. (Yonhap) South Korea's export prices rose in February, marking the third straight monthly gain helped by a modest recovery in exports, central bank data showed Tuesday. The country's export price

Kumho Petrochem aspires to expand ‘beyond conventional boundaries’ (Kumho Petrochemical) After posting better-than-expected business output last year despite the COVID-19 pandemic, Kumho Petrochemical is now bracing for another leap forward, seeking to gain an upper hand in the post-coronavirus industry, officials said Monday. The company’s core direction is to grow beyond the conventional petrochemical sector,

[Herald Interview] LG Chem CTO says ESG is survival of the fittest The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance (ESG) issues, which have become central factors globally in measuring the sustainability of an investment or business decision.

S-Oil: Cyclicals to See Earnings Improve The author is an analyst of KB Securities. He can be reached at yc.baek@kbfg.com. -- Ed. Target price raised to KRW110,000 We reiterate BUY on S-Oil and raise our TP by 17.7% to KRW110,000 to reflect upward earnings estimate revisions. We revise up 2021E/2022E NP attributable to controlling interests

OECD revises up its 2021 growth outlook for S. Korean economy to 3.3 pct SEOUL, March 9 (Yonhap) -- The Organization for Economic Cooperation and Development (OECD) on Tuesday revised up its 2021 growth outlook for the South Korean economy as the country's exports remain robust amid the pandemic.   The OECD expected Asia's fourth-largest

Rising oil prices, margins raise hopes of recovery in refiners' earnings SEOUL, March 9 (Yonhap) -- A recent jump in international oil prices and recovering refining margins are raising expectations for a rebound in South Korean oil refiners' earnings down the road, industry sources said Tuesday.   Industry leader SK Innovation Co. and three other

S-Oil acquires 20% stake in hydrogen fuel cell developer S-Oil President Ryu Yul (left) and FCI CEO Lee Tae-won pose for a photo after signing an investment agreement at S-Oil headquarters in Mapo-gu, western Seoul, Friday. (S-Oil) S-Oil said Sunday it has purchased a 20 percent stake in advanced hydrogen fuel cell developer Fuel Cell