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.
The Public Officials Benefit Association (POBA) will select two global private credit managers to invest around $200 million in mezzanine debt via separately managed accounts (SMAs). POBA will allocate $100 million to each of two SMAs through two domestic investment&hellip
The Government Employees Pension Service (GEPS) will allocate $20 million to US dollar-denominated structured notes based on South Korean credit default swaps (CDS) and three-month US dollar LIBOR. It received proposals for the investment mandate by the afternoon of June 26.&hellip
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip