highlights of operations
Chevron operates in South Korea as a 50 percent shareholder in GS Caltex Corp., the country’s second-largest energy company.
GS Caltex operates one of the world’s largest refineries, in Yeosu, and has a large network of GS Caltex® service stations. GS Caltex is a registered trademark of GS Caltex Corporation.
Chevron also is in the petrochemicals business through the operations of GS Caltex, Chevron Korea Inc., Chevron Oronite Co., and Chevron Phillips Chemical Company LLC (CPChem) and its affiliates.
Chevron Aviation supplies aviation fuel for commercial airlines and general aviation at seven major airports in South Korea.
Chevron Korea Inc. also has an office in Seoul to provide support for the commercialization of Chevron equity liquefied natural gas (LNG) projects around the globe, including Australia, Indonesia and Canada, and to expand our LNG business in Korea.
In addition, Chevron contracts with Korean shipyards and fabrication yards to safely and efficiently build high-quality infrastructure to develop energy resources around the world. Chevron has made significant investments in South Korea to build oil and gas exploration platforms as well as ships used to transport LNG, crude oil and petroleum products.
Chevron has a 50 percent interest in our South Korean affiliate GS Caltex Corp. The GS Caltex refinery complex in Yeosu is the largest in the Chevron system. The facility is the world’s fourth largest, capable of processing 785,000 barrels of crude oil per day.
Since 2004, GS Caltex has invested $4.6 billion in heavy oil upgrading facilities that convert fuel oil and other low-priced heavy oil into high-value products such as gasoline and diesel.
GS Caltex is one of the world’s leading manufacturers of petrochemicals, especially aromatics.
GS Caltex’s petrochemical production capacity stands at:
- 2.8 million tons of aromatics, including benzene, toluene and xylene. These are base chemicals used to produce a range of products, including adhesives, plastics and textile fibers.
- 180,000 tons of polypropylene, which is used to make food packaging, laboratory equipment, textiles and more.
Our Chevron Oronite subsidiary supplies fuel and lubricant additives to Korean companies.
Chevron is also invested in a chemical facility in South Korea through an affiliate of our joint venture CPChem.
CPChem has a 60 percent interest in K.R. Copolymers Co., Ltd., which produces K-Resin® SBC. K-Resin SBC has been used for more than 40 years in products ranging from packaging and toys to medical components and displays. K-Resin SBC is a registered trademark of CPChem.
marketing and retail
GS Caltex has maintained its strong position with South Korean motorists for almost 50 years.
The joint venture supplies about 2,600 service stations and 400 liquefied petroleum gas filling stations and has a 25 percent share of the nation’s fuel business.
in the community
Chevron, through GS Caltex, has an established tradition of partnering with the communities where we work. In South Korea, this includes:
- Helping underprivileged children relieve their psychological distress
- Providing free meals for senior citizens
- Providing English lessons taught by native speakers to elementary and middle school students in remote areas
- Awarding scholarships to high school and college students
- Supporting employees’ volunteer activities
- Providing matching grants
GS Caltex established the GS Caltex Foundation in 2006. Each year, GS Caltex makes an annual contribution to the foundation to fund initiatives that promote culture and the arts, social welfare initiatives, and education projects. GS Caltex’s $90 million culture and arts center in Yeosu—completed in 2012—presents musical and other cultural events for the community.
In 2015, Chevron began a partnership with the Community Chest of Korea (CCK), Korea’s largest community-oriented charity organization. With Chevron’s support, the CCK educates children on safety, provides social welfare specialists in child care centers, and supplies safety packages that include fire extinguishers and first aid kits.
record of achievement
Caltex began operating in South Korea in the late 1960s, just as the country was developing its economic strength. Recognizing South Korea’s growing demand for petroleum products, Caltex entered a joint venture in 1967. The partners formed the Honam Oil Refinery Co. Ltd., which built the nation’s second refinery in Yeosu, at the southern edge of the Korean Peninsula. GS Caltex is one of the largest and oldest joint ventures in South Korea between a foreign company and a Korean company.
In addition to refinery expansions, GS Caltex extended its presence into the South Korean petrochemicals business.
GS Caltex also began operating a network of service stations, which quickly gained a substantial share of Korea’s automotive gasoline business.
GS Caltex stands out for its high business standards and contributions to the country’s economy. Honors include the following:
- Order of Industrial Service Merit, Gold Tower (2014), from the government of the Republic of Korea
- Presidential Prize in the Mecenat Awards (2013), from the Korea Mecenat Association, for building and operating Yeulmaru, the culture and arts complex in Yeosu
- First place in the Korean National Customer Satisfaction Index (2013) for service stations, from the Korea Productivity Center; fifth year in a row
- $25 billion Export Tower Award (2012), from the president of the Republic of Korea for the company’s contribution to international trade; the second Korean company and first Korean refiner to receive it
- First National Order of Culture Merit, Geumgwan (2012), from the Republic of Korea
- Recognition for Excellent Volunteerism (2011), from the minister of Health and Welfare
- Republic of Korea Master Brand Award (2010) for contributions to the national economy and competitiveness through development of powerful brands, presented by the prime minister
- First Prize in Working Innovation (2010) for innovative and effective workplace management, from the minister of Employment and Labor
- Ninth Republic of Korea Grand Prize for Safety (2010) for excellent workplace safety control and management, from the minister of Public Administration and Security
- Grand Prize in Safety Management (2009) for strong safety records and safety management, from the mayor of Yeosu
- Order of Industrial Service Merit, Silver Tower (2008), from the Republic of Korea
- Order of Industrial Service Merit, Gold Tower (2000), from the Republic of Korea
33rd Floor, GS Tower
508 Nonhyeon-ro, Gangnam-gu
Visit GS Caltex
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