S-Oil has been engaged in some 140 social service programs under its CSR, along with transparent management and environment protection activities. The oil refinery has been working to be a sustainable growth enterprise by focusing on ethical management and achieving stable performance results.
Its strategy is to unload colorful and diverse social service activities to do its corporate social responsibility in full.
From 2006, the oil refinery has been giving awards to the firefighters who served their roles faithfully to appreciate their devotion to their duties.
From 2009, some 107 children with rare diseases were cared for with the money given by the oil refinery, which was contributed by its employees. The company also took care of environmental protection and economically dislocated families in the regional areas in Korea.
S-OIL held a charity event “Sharing Songpyeon with S-OIL” on the occasion of Chuseok at the Seongsan Social Welfare Center, Ewha Woman’s University in Mapo-gu, Seoul on Sept. 20.
CEO Othman Al Ghamdi and about 100 officers and employees of S-OIL made Songpyeon themselves and offered it along with gift packages containing groceries and daily necessities to 800 low-income households in the Mapo area, including recipients of National Basic Livelihood Security, single-parent families, disabled people and elderly people living alone.
“I learned that Chuseok is a meaningful national holiday in Korea when people make meals and share them with neighbors, celebrating the autumn harvest” said CEO Al Ghamdi, who delivered gift packages in person to elderly people living alone.
“We hope that our small help will be a warm gift to needy people who spend Chseok lonely.”
S-OIL has held the charity event every Chuseok for eleven years since 2007 and has endeavored to help local residents. As part of effort, the refiner offers heating fuel to low-income households and delivers coal briquette of love to the needy.
CEO Al Ghamdi mad himself a Korean name, “Oh Su-man,” and participated in the charity event of sharing songpyeon immediately after he took the helm as CEO. Also he delivered special speech to students of prominent universities such as Yonsei and Korea University to learn Korean culture and conduct Korean friendly management.
CEO Al-Ghamdi proclaims ‘Vision 2025’
Vision is to be “The most competitive and admired energy & chemical company in Asia Pacific”
On Aug. 30, S-OIL made a resolution to grow into the most competitive and admired energy & chemical company in Asia Pacific during the ‘Vision 2025’ Proclamation Ceremony held at the auditorium of its head office in Mapo.
CEO Othman Al-Ghamdi, who joined S-OIL in 2016, explained the background behind the New Vision by saying “we need to secure a clear competitive edge that allows us to sustain ourselves under whatever business environment we are in if we want to prepare ourselves against environmental uncertainties 10, 20 years from now.”
“S-OIL’s key capabilities are passionate and creative human talents. Let us achieve the new vision with the best operational efficiency and differentiated investment strategies. Our goal is 3 trillion won in operating income and 25 trillion won in market capitalization by 2025, and these will significantly enhance our business value and shareholder value” said CEO Al- Ghamdi. This represents growth by double. Last year, S-OIL recorded 1.6169 trillion Won in operating income and market capitalization was 13.4536 trillion won (based on Aug. 29th closing price).
CEO Al-Ghamdi asked all employees to load themselves with “Excellence, Passion, Integrity, Collaboration and Sharing” based on which to achieve New Vision and complete S- OIL’s EPIC for corporate culture innovation.
To achieve Vision 2025, S-OIL presented three strategic directions towards:
- Strengthen refining business
- Expand chemical business
- Secure new future growth engines.
S-OIL built the new strategic framework based on considerations into future business environmental scenarios and evaluation of the company’s internal capabilities as well as corporate culture.
In doing so, it also surveyed employees’ aspirations for a new vision and reflected the findings in Vision 2025.
