By successfully holding the forum, KNOC clearly highlight its determination to grow into a global oil company
The Korea National Oil Corp. (KNOC) held the Asian NOC CEO Forum from July 19-21, with top NOC management participating. This forum is designed to discuss the creation of an energy cooperation belt with Japan, China and other Asian countries that are rich in natural resources, and was held as part of a push for new Asian diplomacy to reinforce energy cooperation for Korean government’s 100 national tasks. The forum provided participants with the opportunity to have in-depth discussions on a variety of topics.
During the forum, approximately 50 participants, including 15 NOC CEOs from eight countries, gave presentations and held debates on the role of Asian NOCs and cooperation among them in the oil resources development sector under the theme “Asian NOCs toward Humanity, Environment and Energy.” Participants also shared technological experiences and information in areas such as frontiers, growth strategies and joint assessment.
In particular, KNOC arranged numerous meetings between NOC CEOs and big Korean companies such as Hyundai Engineering and Construction, Hyundai Heavy Industries, GS Engineering and Construction, Daewoo International, SK, STX, Kolon, Samsung Corporation, Hyundai Industrial Development and DSME E&R, as well as NOC CEOs and small and medium-sized Korean companies wanting to tap into the market. By doing so, KNOC has striven to help Korean companies such as Korean plant exporters, builders and financial institutions make forays into Asian countries rich in natural resources.
The company also held the first meeting of the Global KNOC Steering Committee at its headquarters in May. The committee aims to create an integrated management system with newly acquired overseas affiliated companies in order to increase synergy. Kang Young-won, President and CEO of the KNOC, and executives from UK company Dana, Harvest (Canada) and Ankor (US) attended the meeting.
Both Dana and Harvest made presentations regarding long-term development plans and strategic proposals at the meeting. Participants also debated on the creation of a global management system, as well as pending issues involving affiliated companies.
President Kang called for close cooperation between headquarters and affiliated companies with an eye towards strategies for the future and realizing the vision of making KNOC a government-run oil company strongly supported by the public. Although other large Korean companies have held similar meetings with overseas top managers, this is the first time a Korean state-owned company has done so, clearly highlighting KNOC’ s determination to grow into a global oil company.