oil reserves

Foreign exchange South Korea’s forex reserves dip to nearly 5-year low in February

South Korea’s foreign exchange reserves diminished to the lowest level in nearly five years last month, largely due to the expanded forex swap...

Shipping & Shipbuilding Korean shipbuilders to benefit from rising LNG, oil tanker demand

South Korean shipbuilders are expected to benefit from a potential surge in demand for liquefied natural gas (LNG) and crude oil carriers as US Pres...

Energy South Korean oil refiners to jointly build SAF plant

South Korea’s four major oil refining companies will jointly build a sustainable aviation fuel (SAF) plant in the country, for which the gover...

Cryptocurrencies Korea seeks tighter control over digital coins, mulls mandatory disclosures

South Korea plans to tighten its controls over cryptocurrency trade in the country by mandating information disclosures for listed virtual assets an...

Foreign exchange South Korea’s forex reserves drop to 5-year low in 2024

South Korea’s foreign exchange reserves shrank to a five-year low at the end of last year after the country’s foreign exchange authoriti...

Korean startups Catchtable to offer restaurant reservation service in Japan

Wad Corp., the developer and operator of South Korea’s most popular restaurant reservation app Catchtable, launched the beta service for off...

Chemical Industry HD Hyundai Oilbank supplies bio VLSFO to Yangming

HD Hyundai Oilbank Co., a South Korean crude oil refiner backed by Saudi Aramco, said on Thursday it started to supply Taiwan-based Yang Ming Marine...

Economy S.Korea's foreign reserves amount to $415.4 bn in Nov

South Korea's official foreign reserves at the end of November amounted to $415.4 billion.According to the Bank Of Korea (BOK) on Wednesday, the nat...

Corporate bonds Korean companies’ cash reserves swell to record high

Cash holdings at South Korean companies have soared to a record-high level, data showed on Monday. Companies are stepping up efforts to raise cash t...

Business & Politics Korea mulls raising US oil imports to cope with Trump trade policies

South Korea, the world’s fourth-largest oil importer, is considering increasing US oil imports to ease potential pressure from President-elect...

Energy DS Dansuk wins $750 mn SAF material order from Phillips 66

South Korea's DS Dansuk Co., which operates bioenergy, battery, and plastic recycling businesses, said on Monday it signed a 1 trillion won ($750 mi...

Petrochemicals HD Hyundai Oilbank to fully own HD Hyundai Cosmo for $104 mn

Saudi Aramco-backed HD Hyundai Oilbank Co. will acquire a 50% stake in money-losing HD Hyundai Cosmo Petrochemical Co. from Japanese chemical giant ...

Banking & Finance Mirae Asset's retirement pension reserves rise by $2.9 bn in 2024

South Korea's Mirae Asset Securities Co. said on Tuesday that its defined contribution (DC) retirement pension and individual retirement pension (IR...

Energy SK Earthon wins 2nd oil field exploration bid in Malaysia

SK Earthon Co., the energy resources exploration and production (E&P) unit of South Korean energy giant SK Innovation Co., is accelerating its g...

Airlines S.Korea to launch sustainable biojet fuel initiative

South Korea will require airlines to replace a portion of their jet fuel with environmentally friendly alternatives such as cooking oil, palm oil an...

Carbon neutrality GS Caltex to capture and utilize carbon with own technology

South Korea's GS Caltex Corp. will launch a carbon capture and utilization (CCU) project in collaboration with South Jeolla Province and Yeosu City ...

Korean stock market S.Korean stocks log largest daily loss since pandemic

The South Korean stock market dropped more than 3% on Friday to breach the psychologically important barrier of 2,700 in almost two months, after we...

Petrochemicals HD Hyundai Oilbank exports bio marine fuel blends

The Korea Customs Service announced on July 29 that domestic petroleum products were exported after being blended in a bonded zone for the first tim...

Petrochemicals S-Oil halts fire-hit paraxylene plant, faces revenue loss

ULSAN, South Korea -- It looks inevitable that S-Oil Corp., the South Korean unit of Saudi Arabian Oil Co., will take a substantial revenue hit from...

Sovereign wealth funds Sovereign wealth fund KIC shortlists three CEO candidates

South Korean sovereign wealth fund Korea Investment Corporation (KIC) has shortlisted three candidates as the next chief executive officer, who will...

Artificial intelligence S.Korea's Rebellions secures investment from Aramco

Rebellions Inc., a South Korean artificial intelligence chip design startup, announced on Tuesday that it secured investment from Saudi Arabia's sta...

Pension funds Korea mulls tripling NPS' advance dollar funding limit

South Korea is considering tripling the maximum amount of dollars the National Pension Service (NPS) can buy from the domestic foreign exchange mark...

Petrochemicals Kukdong Oil to build hydrogen gas plant in Ulsan

South Korea's Kukdong Oil & Chemicals Co. announced on Wednesday that it will construct the nation's largest hydrogen gas production facility ...

Energy SK Energy to cut emissions with combined heat power system

SK Energy Co., a unit of South Korean oil refiner and battery maker SK Innovation Co., has begun operation of its gas combined heat power (CHP) syst...

Energy South Korea finds massive crude oil, gas prospects in East Sea: Yoon

South Korea, which heavily relies on imports for its energy use, has found a potentially massive reserve of oil and gas offshore close to its southe...

Corporate strategy SK Innovation’s Ulsan plant goes smarter with AI, robot dog, AR tech

ULSAN, South Gyeongsang Province – At a petrochemical plant run by SK Innovation Co., South Korea’s largest oil refiner, Spot, a robot d...

ESG HD Hyundai, Hyundai Dept. Store to co-work for recycling plastic waste

South Korea's HD Hyundai Oil Bank Co. and Hyundai Department Store Co. have partnered to create a closed-loop plastic film recycling system, a first...

Energy HD Hyundai Oilbank kicks off biodiesel mass production

HD Hyundai Oilbank Co., South Korea’s refiner backed by Saudi Aramco, started mass production of biodiesel to expand its eco-friendly energy b...

Korean startups Korea’s Catchtable eyes offshore table reservation markets

Wad Corp., the developer and operator of South Korea’s most popular restaurant reservation app Catchtable, is considering offering Catchtable ...

Beauty & Cosmetics Manyo’s Pure Cleansing Oil to hit US Costco shelves in July

South Korea’s naturalism cosmetics company Manyo Co. has hit the jackpot in a deal to supply its best-selling face cleansing product, Pure Cle...