Caltex began its operations in South Korea in 1968, just as the country was emerging as an economic power.
Recognizing South Korea's growing demand for petroleum products, Caltex entered a joint venture.
Together, the partners formed the Honam Oil Refinery Co. Ltd., which built the nation's second refinery in Yeosu, an agricultural area on the southern edge of the Korean peninsula.
Through a joint venture, Caltex also began operating a network of service stations, which quickly gained a substantial share of South Korea's automotive gasoline business.
In addition to funding refinery expansions, Caltex extended its presence into the South Korean petrochemicals business.
GS Caltex stands out for its high business standards and contributions to the country's economy. Honors in 2010 include:
- Order of Industrial Service Merit, from the Ministry of Knowledge Economy
- Industrial Service Medal for contributions to industry and national development, conferred by the country's president
- Republic of Korea Master Brand Award for contributions to the national economy and competitiveness through development of powerful brands, presented by the prime minister
- Foreign Company Day in recognition of attracting foreign investment to Korea, given by the prime minister
- First Prize in Working Innovation for innovative and effective workplace management (2010), conferred by the minister of Employment and Labor
- Ninth Republic of Korea Grand Prize for Safety for excellent workplace safety control and management, presented by the minister of Public Administration and Security
- Grand Prize of Safety Management for strong safety records and safety management (2009), given by the mayor of Yeosu
- Recognition for Excellent Volunteer, from the minister of Health and Welfare and Family
- First place in the Korean Customer Satisfaction Index for service stations (2010), presented by Korea Management Association Consulting
Updated: May 2011
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