S-OIL CEO promotes science

By Kang Seung-woo

S-OIL CEO Ahmed A. Subaey is setting another milestone in his efforts to bring his firm closer to the Korean community.

After supporting firefighters and setting up a sports organization, Subaey has now set up a foundation to help promote science and engineering initiatives.

S-OIL has established the S-OIL Science Prodigy and Culture Foundation with the purpose of nurturing talent in pure science and supporting academic research efforts in Korea.

According to the refinery, a plaque hanging ceremony was held at the foundation’s office in the 63 Building in Yeouido, Seoul, Monday with its CEO Ahmed A. Subaey and foundation Chairman Oh Myung on hand.

The foundation selects and offers scholarships to outstanding science or engineering undergraduate and graduate students at Korean universities and provides support for research institutes’ academic theses and research projects.

In addition, the foundation plans to promote exchanges with leading overseas academic institutions and to develop a program for cultural exchanges with the Middle East, so as to contribute to expanding academic and cultural global networks of the country.

S-OIL has contributed 2.1 billion won to establish the foundation and will contribute a fixed amount each year to pursue projects on a stable basis. Oh Myung, executive director of KAIST, was appointed chairman of the foundation with four directors and two auditors also selected.

“We established this foundation as part of an effort to return our profit to society. We’ll support academic research and offer scholarships to outstanding students, and thus nurture talented individuals who will become the next-generation leaders of our society,” said S-OIL CEO Subaey.

“S-OIL will continue to provide support for the foundation, and I hope Korea will have a Nobel Science Prize winner someday.”