SEOUL : S-Oil Corp said on Thursday it plans a 7 trillion won ($5.24 billion) investment in its Ulsan, South Korea, factory to produce more high-value petrochemical products.
The refiner, whose largest shareholder is Saudi Aramco, said in a regulatory filing that the investment will start from next year and be completed by June 2026.
The announcement coincides with Saudi Arabian Crown Prince Mohammed bin Salman’s visit to South Korea on Thursday.
($1 = 1,336.4700 won)
