S-Oil CEO wins Korea’s top industrial award

By Kang Seung-woo

S-Oil CEO Ahmed Subaey won the Gold Tower Order of Industrial Service Merit Monday for his contribution to the nation’s industry at a commemorative ceremony of Trade Day.

It is the second time for a non-Korean to claim the prestigious award.

The Saudi Arabian CEO was given credit for improving Korea’s trade balance on the back of exports of oil products and massive investments.

Subaey worked at Saudi Aramco, Saudi Arabia’s state-owned oil company and the largest shareholder of S-Oil, for 27 years before taking over as head of the nation’s third-largest oil refiner.

“S-Oil’s growth-driven export strategies have contributed to the local oil-refining industry, usually associated with domestic demand, becoming a strong proponent of exports,” the CEO said.

“S-Oil will make efforts to strengthen its capability in exports and look for new overseas markets on its way to contributing further to the Korean economy.”