Lubricant consumption in South Korea, the eighth-largest lubricant market in the world, fell to a 10-year low of 889,600 tons in 2019, according to the Korea Lubricants Industry Association. Over the past 20 years, South Korea’s lubricants consumption has remained at nearly 1 million litres per year. The decline was attributed to numerous external factors […]

South Korea unveiled plans last week to accelerate the adoption of electric cars, self-driving vehicles and even flying automobiles in the coming years. South Korea President Moon Jae-in said Korean companies will invest KRW60 trillion (USD50 billion) over the next decade into the future of transportation. Meanwhile, the South Korean government will invest KRW2.2 trillion […]

The Daesan integrated refining and petrochemicals complex in South Korea, owned by Hanwha Total Petrochemical, has started its new ethylene production capacities. Hanwha Total Petrochemical is a 50-50 joint venture between Total and Hanwha. With a USD450 million investment, the site can now produce 1.4 million tons per year of ethylene, an increase of 30%. […]

Lotte Chemical Corp. is adding a chemical compound plant in its petrochemical complex in Yeosu, South Jeolla Province, South Korea. The plant will be completed by the end of the year through a joint venture with GS Energy Corp., an energy specialized holding company of the GS Group. The two Korean companies signed the agreement […]

South Korea’s third-largest oil refiner S-Oil Corp. said it plans to invest KRW 5 trillion (USD 4.4 billion) during the second phase of its petrochemical project in Ulsan. The second phase will include a mixed feed cracker and olefin downstream facilities to produce high-value petrochemical products. S-Oil expects to create 2.7 million jobs per year through […]

South Korean oil companies GS Caltex and SK Energy announced that they have jointly launched a parcel delivery service on a trial basis in Seoul called Homepick. Capitalizing on the growth of e-commerce, GS Caltex and SK Energy said Homepick will be available nationwide in South Korea in September. The two oil majors are cooperating […]

Hyundai Oilbank Company announced that Hyundai XTeer Ultra engine oil now meets the requirements of API SN Plus. Designed for high performance in the latest engine hardware, Hyundai XTeer Ultra, is the first engine oil in South Korea to meet API SN Plus and protect gasoline direct injection (GDI) engines from low speed pre-ignition (LSPI) […]

South Korea plans to boost the share of energy sources and natural gas, while gradually reducing its reliance on coal and nuclear power, from 2017 to 2030, the country’s Ministry of Trade, Industry and Energy announced. Under the draft of the 8th Basic Plan for Long-term Electricity Supply and Demand, the installed capacity of renewables […]

Hanwha Total Petrochemical, a 50-50 joint venture between South Korea’s Hanwha and French oil and gas major Total, will invest more than USD 300 Million to expand its integrated refining and petrochemicals platform located in Daesan, South Korea. The investment will increase the site’s polyethylene capacity by more than 50% to 1.1 million tons per […]

Dorf Ketal Chemicals India Private Ltd. issued a statement on Wednesday rebutting “recent claims made by Infineum regarding recent intellectual property rulings in South Korea.” Sudhir Menon, chairman and managing director of Dorf Ketal, said that the “litigation process in the complex South Korean process is not completed,” in contrast to a statement issued by […]