S-Oil Awards 170 Million KRW in Scholarships to 33 Children of Partner Company Employees

33 Children of Ulsan Plant Partner Company Employees
3 Million KRW Per Person Win-Win Scholarship Awarded
Strengthening Co-Growth Between Large and Small Businesses

[Asia Economy Reporter Choi Seoyoon] S-OIL announced on the 24th that it has donated 170 million KRW in win-win scholarships to the Ulsan Social Welfare Council for the children of employees of partner companies at the Ulsan plant.

According to S-OIL, the scholarship was awarded to 33 university student scholarship recipients selected through the Scholarship Committee. The award ceremony held at the main building of the Ulsan plant was attended by Moon Jaecheol, Chairman of the Ulsan Social Welfare Council, Lee Youngbaek, Vice President of S-OIL, Kim Sangnyeon, CEO of Dongil Industry, representatives of partner companies, and the 33 university student scholarship recipients selected through the Scholarship Committee.

To strengthen win-win cooperation with partner companies, S-OIL started this year to donate win-win scholarships to the Ulsan Social Welfare Council and formed a Scholarship Committee to select beneficiaries. Following university students this year, S-OIL plans to expand the support target to middle and high school students next year.

S-OIL expects that by alleviating the financial burden of partner company employees and encouraging their long-term service, it will contribute not only to the continuous growth and development of partner companies but also to ESG management through strengthening partnerships with them.

Lee Youngbaek, Vice President of S-OIL, said, “During this difficult time due to COVID-19, we plan to continuously support the expansion of win-win programs so that S-OIL and its partner companies can grow together.”

Meanwhile, S-OIL is carrying out various activities such as school development fund contributions, scholarship support, and book donations to schools and local children’s centers to improve the educational environment for youth in the Ulsan community where its business sites are located.

This content was produced with the assistance of AI translation services.