President Moon Jae-in of the Republic of Korea and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense of the Kingdom of Saudi Arabia , inaugurated in the Korean capital of Seoul today Korean S-Oil refinery. Upon arrival of the Korean President and HRH the Crown Prince at the venue, the Saudi royal and Korean national anthems were played. Addressing the gathering, Chairman of S-Oil Corp Kim Chul Su highlighted the outcome of the investment of Saudi Aramco in Korea over the years, citing the role of this great partnership on energy supplies necessary for economic growth in Korea. He pointed out that cooperation relations between S-Oil corps and Saudi Aramco are developing not only in the field of oil and refining but also cover even research, education and cultural exchange. Then, the attendees watched a film on the new refinery. For his part, Eng. Ami Al-Nasser, President and CEO of Saudi Aramco, delivered a speech in which he said that S-Oil is playing a pivotal role in providing energy supplies necessary for economic growth in Korea, saying that the importance of S-Oil products is evident in supporting Korea's giant industries and companies which use its world-class products in daily life. In terms of technology, innovation and quality, the products of S-Oil are classified among the world's best, he added. We, in Saudi Aramco are proud of the development of relations with S-Oil, Al-Nasser said, adding that "when our company pumped its first investments in S-Oil in 1991, the refining capacity of S-Oil stood at 90bpd only. Last year, it reached 669bpd and meanwhile, the revenues increased to 31 folds. So, it is not surprising that we cite S-Oil as an example of our successful investments and other partnerships in the sector of refining. He drew the attention that the high-level labor ethics of the Korean workforce, are an object of admiration and appreciation, citing their dedication, skillfulness, efficiency, flexibility and hardworking. --More 18:09 LOCAL TIME 15:09 GMT 0019 www.spa.gov.sa/1938621
