The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
Business
  • Tech
  • Bio
  • Companies
Wed, August 10, 2022 | 04:25
Manufacturing
S-Oil makes equity investment in modified sulfur maker
Posted : 2020-12-28 13:27
Updated : 2020-12-28 20:42
Print Preview
Font Size Up
Font Size Down
By Nam Hyun-woo

S-Oil CEO Hussain Al-Qahtani
S-Oil CEO Hussain Al-Qahtani
S-Oil said Monday it has invested in a modified sulfur maker, as part of its plans to develop more business opportunities that can create synergy with its existing refining, lubricant and petrochemical businesses.

According to the refiner, it has made an equity investment into Beomjun E&C, which produces hydraulic modified sulfur for concrete from byproduct sulfur generated from refining processes. The company said it signed the deal earlier this month, but did not reveal the size of its investment.

The investment came after S-Oil in November signed a memorandum of understanding with Beomjun E&C, POSCO E&C and Taemyung Industrial on developing high-performance concrete using steel and oil byproducts.

The company expects the business will improve sulfur's value by creating new demand. Currently, sulfur is mostly used for fertilizers and pesticides, and the modified sulfur products will create new markets in the production of concrete and asphalt.

S-Oil said the investment will create a strategic opportunity for the company to foray into new businesses, as well as allowing it to seek mutual growth with small and medium-sized enterprises (SMEs).

Recently, S-Oil has been expanding its investments into domestic SMEs and venture companies having promising technologies in growing industries. The betting into Beomjun E&C marks the refiner's fifth investment into domestic firms, following artificial intelligence firm OnePredict, polyimide film maker IPITECH, flexible battery maker LIBEST and clean development mechanism firm Glory & Tech.

Earlier this month, the refiner revealed its Vision 2030 long-term growth strategy, and pledged to make an entry into hydrogen fuel cell and recycling businesses to secure sustainability.

"S-Oil is continuing direct and indirect investments in businesses that can improve our productivity, provide new growth opportunities and cut emissions," an S-Oil official said. "For successful venture investment, we are actively engaging in communication with the industry and exploring further investment targets."


Emailnamhw@koreatimes.co.kr Article ListMore articles by this reporter
 
LG
  • Capital region to see additional 300 millimeters of rain until Friday
  • [PHOTOS] Damage after torrential rains
  • Visa regulation pits Jeju islanders against justice ministry
  • Canadian YouTuber takes viewers on brewing adventures in Korea
  • Yoon details whereabouts during record downpour to curb conspiracy theory
  • Heavy downpour disrupts e-commerce deliveries
  • Former Starbucks Korea CEO leads growth of Shinsegae brand JAJU
  • North Korea releases water from border dam after downpours
  • Ex-President Lee Myung-bak unlikely to be released
  • China wary of South Korea's US-centered policy
  • Interactive News
  • With tough love,
  • 'Santa dogs' help rebuild burnt forests in Andong
  • 'Santa dogs' help rebuild burnt forests in Andong
  • A tale of natural wine
    • Netflix's 'Narco-Saints' to be released Sept. 9 Netflix's 'Narco-Saints' to be released Sept. 9
    • [INTERVIEW] Leandro Erlich's questioning of our perception of reality carries new meaning in pandemic [INTERVIEW] Leandro Erlich's questioning of our perception of reality carries new meaning in pandemic
    • BLACKPINK to start world tour in October BLACKPINK to start world tour in October
    • [INTERVIEW] Im Si-wan found own narrative for villain role in 'Emergency Declaration' [INTERVIEW] Im Si-wan found own narrative for villain role in 'Emergency Declaration'
    • 'Free Chol Soo Lee': How young Korean immigrant's wrongful conviction led to pan-Asian American resistance movement 'Free Chol Soo Lee': How young Korean immigrant's wrongful conviction led to pan-Asian American resistance movement
    DARKROOM
    • Ice is melting, land is burning

      Ice is melting, land is burning

    • Tottenham 6-3 Team K League

      Tottenham 6-3 Team K League

    • Afghanistan earthquake killed more than 1,000

      Afghanistan earthquake killed more than 1,000

    • Divided America reacts to overturn of Roe vs. Wade

      Divided America reacts to overturn of Roe vs. Wade

    • Namaste: Yogis to celebrate International Yoga Day

      Namaste: Yogis to celebrate International Yoga Day

    The Korea Times
    CEO & Publisher : Oh Young-jin
    Digital News Email : webmaster@koreatimes.co.kr
    Tel : 02-724-2114
    Online newspaper registration No : 서울,아52844
    Date of registration : 2020.02.05
    Masthead : The Korea Times
    Copyright © koreatimes.co.kr. All rights reserved.
    • About Us
    • Introduction
    • History
    • Location
    • Media Kit
    • Contact Us
    • Products & Service
    • Subscribe
    • E-paper
    • Mobile Service
    • RSS Service
    • Content Sales
    • Policy
    • Privacy Statement
    • Terms of Service
    • 고충처리인
    • Youth Protection Policy
    • Code of Ethics
    • Copyright Policy
    • Family Site
    • Hankook Ilbo
    • Dongwha Group