S-Oil CEO Anwar Al-Hejazi awarded CEO of year

S-Oil CEO Anwar Al-Hejazi, right, poses with Korea Management Association Chairman Lee Bong-seo during the award ceremony of the 55th CEO of the Year Award at the Grand Hyatt Seoul hotel in Yongsan District, Seoul, Friday. Courtesy of S-Oil

S-Oil CEO Anwar Al-Hejazi was recognized as one of the best corporate leaders in Korea, receiving the CEO of the Year Award from the Korea Management Association (KMA) on Friday.

According to the refiner, Al-Hejazi received the honor along with three other CEOs during an award ceremony held at the Grand Hyatt Seoul in Yongsan District, Seoul.

The KMA has been presenting the CEO of the Year Award annually since 1969, selecting business leaders who have contributed to the country’s economic development through a review process involving experts from academia, industry and economic organizations.

Al-Hejazi was recognized for his contributions to job creation and revitalization of the domestic economy through a 9.2 trillion won ($6.5 billion) petrochemical complex project called Shaheen project, as well as for establishing S-Oil’s position as a market leader through creative brand marketing.

Shaheen Project broke ground in March 2023 with the goal of completing a steam cracker and other major petrochemical facilities within the Onsan National Industrial Complex in Ulsan by 2026. As of May 13, the project reached a 69.1 percent completion rate, with Saudi Aramco, S-Oil’s largest shareholder, showing strong support for the project despite an industry downturn.

“Al-Hejazi is a leader recognized by the world’s largest energy company, Saudi Aramco, for his outstanding global insight and leadership, and he is reshaping the landscape of Korea’s refining and petrochemical industries through the Shaheen project,” the KMA said.

Al-Hejazi said in a statement that he is “honored to be recognized alongside past recipients who have made a remarkable contribution to Korea’s astonishing economic growth over the decades,” and the award is “the result of the tireless passion and dedication of all S-Oil employees.”

Along with Al-Hejazi, Korea Investment Holdings CEO Kim Nam-goo, Dongsung Chemical Chairman Baek Jeong-ho and Samjin Amook CEO Park Yong-joon also won the honor during the ceremony.