About S-OIL
In the first place, it is essential to discover some general details about the company and its operations. In this case, S-OIL is a Korean enterprise that operates in oil segment and specializes in manufacturing products such as petrochemical, petroleum, lubricant, and polysilicon. With its headquarters in Seoul, it can be discovered as one of the most profitable companies in the country that functions in the energy sector. It has almost $17,9 trillion in sales. At the same time, it exports 60% of its products worldwide.
History
S-OIL was founded in 1976, and it was highly focused on gaining leading positions in the oil industry. Effective managerial practices led to the fact that the company became one of the market frontrunners in petroleum, lubricant, and polysilicon production while emphasizing the importance of safety and environment at the same time.
In 1990, Bucker-C Cracking Center was established, and this facility helped modernize and improve the products that were vulnerable to changes in the business environment. It made the company one of the leaders in oil refinery segment and allowed it to reduce waste and become eco-friendly.
In 2001-2005, S-OIL started to export its products such as ultra-low sulfur oil to Japan, Hong-Kong, Asia, the USA, and Oceania. Thus, in 2011, the company decided to expand its facilities and develop a new complex to gain recognition in the petrochemical industry. Today, it continues to grow and works on a new project to enter the petrochemical market successfully.
S-OIL and Its Values
In turn, the company’s philosophy and values are reflected in its mission and vision. In this case, the enterprise not only wants to focus on production of high-quality products but also has a desire to support the development of society and protect the environment. In this instance, the company operates under the principle “executing systematic social contribution activity”. In this case, this approach complies with the concepts of sustainability, since S-OIL has outstanding financial performance ($17,9 trillion in sales), produces ecologically-friendly products, and pays vehement attention to the satisfaction of community needs by relying on “Sunshine Sharing” campaign.
S-OIL Values and Sustainability
As it was mentioned earlier, the company focuses on the principles of sustainability. In this instance, to support “Sunshine Sharing” campaign and underline the value of love and ‘sunshine’ in the society, the company organizes different activities. For example, it established funds such as S-OIL Science Prodigy and Culture Foundation. At the same time, it organized various events to protect the environment and community. Thus, the company’s “Sunshine Sharing” campaign functions with the help of donation accounts, volunteers, and the employees. In this instance, it could be said that the company’s actions entirely comply with its vision and mission statements while defining the company as socially responsible.