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 another 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 include:
- The $25 billion Export Tower Award (2012) from the president of South Korea for the company's contribution to international trade. GS Caltex is the second Korean company and first Korean refiner to receive it.
- First National Order of Culture Merit, Geumgwan (2012), from the South Korean government.
- Republic of Korea Master Brand Award for contributions to the national economy and competitiveness through development of powerful brands, presented by the prime minister (2010).
- First Prize in Working Innovation for innovative and effective workplace management (2010), from the minister of Employment and Labor.
- Ninth Republic of Korea Grand Prize for Safety for excellent workplace safety control and management, from the minister of Public Administration and Security (2010).
- Grand Prize in Safety Management for strong safety records and safety management (2009), from the mayor of Yeosu.
- Recognition for Excellent Volunteerism, from the minister of Health and Welfare and Family (2011).
- First place in the Korean Customer Satisfaction Index for service stations (2010), from the Korea Management Association Consulting organization.
- Order of Industrial Service Merit, Gold Tower Award (2000) from the Ministry of Knowledge Economy.
- Order of Industrial Service Medal, Bronze Tower (1995).
Updated: April 2013
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