Korea'sfirst private-sector oil refiner GS Caltex is set to celebrate its 50thanniversary since founding on May 19.
Thecompany, which achieved a record-breaking operating profit of more than 2trillion won last year, is pushing for the production of bio butanol which isknown as a future fuel, and the expansion of new energy businesses.
OnMay 18, one day before the foundation anniversary, GS Caltex will host acommemorative ceremony at the Amoris Hall of GS Tower in Seoul's Gangnam, whichwill be attended by its 500-or-so employees.
GSCaltex was founded on May 19, 1967 as Honam Oil Refinery, a 50:50 joint ventureestablished by Rakhee Chemical Industry (currently LG Chem) and Caltex, asubsidiary of Chevron.
HonamOil Refinery changed its name to LG Caltex in 1996 and to GS Caltex in 2005when GS Group was inaugurated. GS Caltex's daily oil-refining capacity rosefrom 60,000 barrels in 1969 to 790,000 barrels today, with its annual salesrising from 11.4 billion won to 25.77 trillion won.
Deutsche Bank has resold $60 million in senior secured debt of Transtelco Inc., a fiber optic services provider in the US and Mexico, to MG Korean Federation of Community Credit Cooperatives. The debt is part of $125 million in senior notes&hellip
A pool of South Korean pension and retirement funds have invested around 85 billion won ($75 million) in debt of a Warburg Pincus-backed, five-star hotel in Hanoi, while a Korean asset manager is in last-stage talks to buy an office&hellip
A consortium of South Korea’s Construction Workers Mutual Aid Association (CWMAA) and MG Non-Life Insurance Co. Ltd. will invest 60 billion won ($53 million) in acquiring a UK warehouse leased by retailer Tesco PLC, joining a growing number of South&hellip