ESG Performance
Key ESG Performances
S-OIL is committed to creating stakeholder value through sustainable growth, contributing to the happiness of mankind as well as the development of society and economy. To this end, we dedicate not only to promoting bold innovation in entire business areas for enhancing our quality competitiveness and brand value but also to practicing shared growth with business partners and local communities based on the management philosophy centered on co-prosperity, fulfilling our responsibility as a corporate citizen.
G-1 Governance
BOD Composition (Unit : persons)
BOD Composition : Category, 2023, 2024 Table.
| Category |
2023 |
2024 |
| Total |
11 |
11 |
| Type |
| Inside |
1 |
1 |
| Non-standing |
4 |
4 |
| Outside |
6 |
6 |
| Gender |
| Male |
9 |
9 |
| Female |
2 |
2 |
| Age |
| 50 or above |
10 |
10 |
| 30 ~ 35 |
1 |
1 |
| Under 30 |
0 |
0 |
BOD Meeting Participation Rate (Unit : %)
BOD Meeting Participation Rate : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Average participation rate |
100.0% |
98.5% |
BOD Evaluation (Unit : points, 5-point scale)
BOD Evaluation : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Overall |
4.8 |
4.7 |
| Composition |
4.8 |
4.6 |
| Roles |
4.7 |
4.7 |
| Operation |
4.7 |
4.7 |
Total Number of Shares (Unit : shares)
Total Number of Shares : Category, Voting rights, 2022, 2023 Table.
| Category |
Voting rights |
No. of shares |
Ratio |
| Total |
116,604,719 |
100.0% |
| Common stock |
1 vote |
112,582,792 |
96.6% |
| Preferred stock |
none |
4,021,927 |
3.4% |
- There are no golden shares issued holding special voting or veto right.
Status of Shareholders : based on Common Stocks (Unit : shares)
Status of Shareholders : based on Common Stocks : Shareholder Name, 2022, 2023 Table.
| Shareholder Name |
2022 |
2023 |
| Total |
112,582,792
(100.0%) |
112,582,792
(100.0%) |
Aramco Overseas
Company B.V. (AOC)1) |
71,387,560
(63.4%) |
71,387,560
(63.4%) |
| National Pension Service (NPS)2) |
8,385,342
(7.4%) |
7,675,230
(6.8%) |
| Institutional investors & individuals |
32,809,890
(29.1%) |
33,520,002
(29.8%) |
- 1) AOC became the largest shareholder by acquiring 35% of S-OIL's shares in 1991. In 1999, the Company purchased 28.4% of its shares as treasury stocks from Ssangyong Group, and changed its name from Ssangyong Oil Refining Co. to S-OIL in 2000. In 2015, AOC acquired these 28.4% of S-OIL's shares additionally.
- 2) Shares owned by NPS included consignment accounts.
- hares held by governmental institutions : none
- All values are based on business report
Shareholding Status of MC Members (Unit : shares)
Shareholding Status of MC Members : Name, 2022, 2023 Table.
| Name |
2022 |
2023 |
| Anwar A. Al-Hejazi / CEO |
- |
- |
| Bong Soo Park / President |
8,360 |
8,360 |
| Yul Ryu / President |
4,550 |
4,550 |
| Jong Bum Ahn / President |
9,140 |
9,140 |
| Ju Wan Bang / CFO |
9,500 |
10,000 |
| Seung Pyo Hong / CSO |
- |
1,000 |
| Won Ki Cha / Head of HQ |
- |
0 |
- Anwar A. Al-Hejazi was newly appointed as the CEO on May 9, 2023.
- Hussain A. Al-Qahtani, the outgoing CEO who served until May 9, 2023, held 1,000 shares worth 0.15 times of his annual fixed salary.
- MC members except the CEO held S-OIL's share worth 82% of their average salary as of the end of 2023.
Corporate Governance Rating by Korea Corporate Governance Service (KCGS)
Corporate Governance Rating by Korea Corporate Governance Service (KCGS) : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Corporate governance rating |
A+ |
A+ |
G-2 Sound and Transparent Financial Management
Credit Ratings
Credit Ratings : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Overseas Credit Ratings |
| Moody's |
Baa2 |
Baa2 |
| S&P |
BBB |
BBB |
| Domestic Credit Ratings |
| Korea Ratings |
AA |
AA |
| NICE Investors Service |
AA |
AA |
| Korea Investors Service |
AA |
AA |
Tax, Sales, and Operating Profit by Nations (Unit : persons, KRW in million)
Tax, Sales, and Operating Profit by Nations : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Domestic |
| Employees |
3,094 |
3,242 |
| Sales |
42,446,028 |
35,726,694 |
| Profit before tax |
2,898,542 |
1,131,705 |
| Corporate tax |
794,155 |
182,857 |
| Tax paid by cash |
217,430 |
695,482 |
| Overseas |
| Employees |
0 |
0 |
| Sales |
0 |
0 |
| Profit before tax |
0 |
0 |
| Corporate tax |
0 |
0 |
| Tax paid by cash |
0 |
0 |
- Based on consolidated financial statements prepared in accordance with K-IFRS.
- S-OIL has a single refinery in Korea, and all business activities including production, sales, administration, and planning are implemented in Korea.
Dividend Payments (Unit : KRW, %)
Dividend Payments : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Total dividends paid (KRW in million) |
640,409 |
198,011 |
| Cash dividend payout ratio |
30.4 |
20.9 |
| Cash dividends per share |
| Common |
5,500 |
1,700 |
| Preferred |
5,525 |
1,725 |
| Cash dividend yield |
| Common |
6.2 |
2.4 |
| Preferred |
9.4 |
3.4 |
- Based on separate financial statements prepared in accordance with K-IFRS.
- Differences in tens are due to rounding of decimal places
Violation of Disclosure Regulations (Unit : cases)
Violation of Disclosure Regulations : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of violations |
0 |
0 |
G-3 Cybersecurity
Violation of Laws related to Customers' Personal Information (Unit : cases)
Violation of Laws related to Customers' Personal Information : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of violations |
0 |
0 |
Cybersecurity Maturity Level
Cybersecurity Maturity Level : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| IT Cybersecurity Maturity Level (0-5) |
3.18 |
3.30 |
| OT Cybersecurity Maturity Level (0-5) |
1.35 |
1.60 |
G-4 Ethics Management
Violation of Improper Solicitation & Graft Act (Unit : cases)
Violation of Improper Solicitation & Graft Act : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of violations |
0 |
0 |
Violation of Internal Regulations found by Compliance Monitoring (Unit : cases)
Violation of Internal Regulations found by Compliance Monitoring : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of violations |
0 |
0 |
Deliberation of Ethics Committee (Unit : times, cases, persons)
Deliberation of Ethics Committee : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of meetings |
21 |
14 |
| Deliberation |
| Operation of sales networks |
12 |
15 |
| Purchasing of goods & services |
12 |
10 |
| Others |
4 |
2 |
| Total |
28 |
27 |
| No. of disciplines due to violations of Ethics Code |
| Corruption or bribery |
0 |
0 |
| Discrimination or harassment |
1 |
1 |
| Customer privacy data |
0 |
0 |
| Conflict of interest |
0 |
0 |
| Money laundering or insider trading |
0 |
0 |
| Other ethics Code violations |
2 |
4 |
| Total |
3 |
5 |
- Completed investigations and follow-up actions on all violations reported by 2023.
- 2022 : 1 case of drunk driving (salary reduction to 1 person), unauthorized hot work for personal purpose (suspension to 2 persons, warning to 1 person), use of violence between colleagues (suspension to 1 person, salary reduction to 1 person, warning to 1 person)
- 2023 : 1 case of long-term absence without leave/monetary borrowing between employees (termination to 1 person), 1 case of inappropriate claim for allowance (salary reduction to 1 person), 1 case of monetary transaction between employees (salary reduction to 1 person), 1 case of workplace harassment (salary reduction to 1 person, warning to 1 person), 1 case of procurement regulations violation (salary reduction to 1 person)
Ethics Management Training for Employees (Unit : times, persons)
Ethics Management Training for Employees : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of trainings |
8 |
5 |
| No. of participants |
3,577 |
3,721 |
| Participation rate |
100% |
100% |
Ethics Management Training for Suppliers & Affiliates (Unit : times, companies, persons)
Ethics Management Training for Suppliers & Affiliates : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Contractors |
| No. of trainings |
- |
- |
| No. of companies |
2,385 |
2,385 |
| No. of participants |
- |
- |
| Affiliates |
| No. of trainings |
1 |
1 |
| No. of companies |
1 |
1 |
| No. of participants |
7 |
7 |
- According to the government's COVID19 quarantine regulations, trainings have been replaced to the distribution of training materials since 2020.
Self-assessment on Ethics Management (Unit : persons, points)
Self-assessment on Ethics Management : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of participants |
3,201
(100%) |
3,170
(100%) |
| Average score |
99.4 |
99.6 |
Ethics Management Evaluation by Stakeholders (Unit : points)
Ethics Management Evaluation by Stakeholders : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| Average score |
9.21 |
9.29 |
| Employees |
9.20 |
9.30 |
| S/Ss & F/Ss |
9.12 |
8.86 |
| Corporate clients |
9.48 |
9.63 |
| Contractors |
9.27 |
9.29 |
G-5 Compliance Management
Violation of Laws related to Product/service Information & Labeling (Unit : cases)
Violation of Laws related to Product/service Information & Labeling : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of violations |
0 |
0 |
Violation of Laws related to Marketing Communication (Unit : cases)
Violation of Laws related to Marketing Communication : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of violations |
0 |
0 |
Fair Trade Training (Unit : times, persons)
Fair Trade Training : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of trainings |
2 |
2 |
| No. of participants |
342 |
331 |
Anti-competitive Behavior (Unit : cases)
Anti-competitive Behavior : Category, 2022, 2023 Table.
| Category |
2022 |
2023 |
| No. of anti-competitive behaviors |
0 |
0 |
