Investment in Promising Venture Firms
S-Oil announced on Dec. 28 that it has made an equity investment in Beomjun E&C, a venture company that produces hydraulic modified sulfur for concrete from byproduct sulfur generated from refining processes.
S-Oil plans to jack up the value of byproduct sulfur and create new demand for it through the equity investment. It did not disclose the size of its investment.
S-Oil recently announced its long-term growth strategy "Vision 2030" to maximize the profitability of its existing oil refining, petrochemicals, and lubrication businesses, and to enter new business areas such as hydrogen, fuel cells, and recycling.
Recently, S-Oil has been expanding its investment in promising Korean venture companies. Beomjun E&C is the fifth company chosen by S-Oil for equity investment, following artificial intelligence firm OnePredict, polyimide film producer IPITECH, flexible battery manufacturer LIBEST and clean development mechanism firm Glory & Tech.