January 16, 2021
BASF has launched a multi-purpose diesel fuel additive, KEROPUR ® D, in South Korea. The product is now available for purchase through Coupang, a South Korean e-commerce company. Keroper D, which is already sold in Europe through the online market, is scheduled to enter the offline market following its launch in the domestic online market […]
GS Caltex has launched lubricants for hybrid vehicles, the first lubricant manufacturer in South Korea to do so. The initial limited edition products come in a special tin can package. Various events are being held in commemoration of this product release. Kixx HYBRID is a low-viscosity lubricant which meets the new American Petroleum Institute (API) […]
South Korea’s largest city Seoul plans to phase out diesel vehicles from public sector and mass transit fleets by 2025. The “No Diesel” initiative aims to reduce high emitting vehicles from the capital city and replace them with electric vehicles and hydrogen-powered vehicles. Diesel cars currently make up 64.6% of vehicles used by the municipal […]
GS Caltex recently held a drone delivery demonstration at the Musucheon Gas Station on Jeju Island, South Korea. More than 40 people attended the event, including GS Caltex CEO Se-Hong Heo and Jeju Island Governor Hee-Ryong Won. GS Caltex plans to utilize its gas stations as drone delivery bases to provide more convenient and faster […]
South Korean textile and chemical conglomerate Hyosung Group (KRX:004800) announced plants to build the world’s single largest liquid hydrogen manufacturing facility, enough to fuel 100,000 cars. Together with the Linde Group, a leading global provider of industrial gases, Hyosung will invest KRW 300 billion (USD245.3 million) in their joint enterprise to create a value chain […]
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 […]
