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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, 2021, 2022, 2023, 2024 Table.
Category 2021 2022 2023 2024
Total 11 9 11 11
Type Inside 1 1 1 1
Non-standing 4 3 4 4
Outside 6 5 6 6
Gender Male 9 7 9 9
Female 2 2 2 2
Age 50 or above 10 9 10 10
30 ∼ 50 1 0 1 1
Under 30 0 0 0 0
BOD Meeting Participation Rate

(Unit : %)

BOD Meeting Participation Rate : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Average participation rate 97.2% 99.3% 100.0% 98.5%
BOD Evaluation

(Unit : points, 5-point scale)

BOD Evaluation : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Overall 4.8 4.9 4.8 4.7
Composition 4.9 4.9 4.8 4.6
Roles 4.6 4.8 4.7 4.7
Operation 4.9 5.0 4.7 4.7
Total Number of Shares

(Unit : shares)

Total Number of Shares : Category, Voting rights, 2020, 2021, 2022, 2023 Table.
Category Voting rights 2020 2021 2022 2023
Total 116,604,719 (100.0%) 116,604,719 (100.0%) 116,604,719 (100.0%) 116,604,719 (100.0%)
Common stock 1 vote 112,582,792 (96.6%) 112,582,792 (96.6%) 112,582,792 (96.6%) 112,582,792 (96.6%)
Preferred stock none 4,021,927 (3.4%) 4,021,927 (3.4%) 4,021,927 (3.4%) 4,021,927 (3.4%)
  • There are no golden shares issued holding special voting or veto right.
  • Status of 2023
Status of Shareholders : based on Common Stocks

(Unit : shares)

Status of Shareholders : based on Common Stocks : Shareholder Name, 2020, 2021, 2022, 2023 Table.
Shareholder Name 2020 2021 2022 2023
Total 112,582,792 (100.0%) 112,582,792 (100.0%) 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%) 71,387,560 (63.4%) 71,387,560 (63.4%)
National Pension Service (NPS)2) 6,396,916 (5.7%) 8,997,198 (8.0%) 8,385,342 (7.4%) 7,675,230 (6.8%)
Institutional investors / individuals 34,798,316 (30.9%) 32,198,034 (28.6%) 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.
  • Shares 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, 2020, 2021, 2022, 2023 Table.
Name 2020 2021 2022 2023
Anwar A. Al-Hejazi / CEO - - - 0
Bong Soo Park / President 8,360 8,360 8,360 8,360
Yul Ryu / President 4,550 4,550 4,550 4,550
Jong Bum Ahn / President 9,140 9,140 9,140 9,140
Ju Wan Bang / CFO - 9,500 10,000 10,000
Seung Pyo Hong / CSO - - - 1,000
Won Ki Cha / Head of HQ - - 0 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, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Corporate governance rating A+ A+ A+ A+

G-2 Sound and Transparent Financial Management

Credit Ratings
Credit Ratings : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Overseas Credit Ratings Moody's Baa2 Baa2 Baa2 Baa2
S&P BBB BBB BBB BBB
Domestic Credit Ratings Korea Ratings AA AA AA AA
NICE Investors Service AA AA AA AA
Korea Investors Service AA AA AA AA
Tax, Sales, and Operating Profit by Nations

(Unit : persons, KRW in million)

Tax, Sales, and Operating Profit by Nations : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Domestic Employees 3,222 3,154 3,094 3,242
Sales 16,829,681 27,463,918 42,446,028 35,726,694
Profit before tax (1,167,797) 1,878,020 2,898,542 1,131,705
Corporate tax (371,689) 499,479 794,155 182,857
Tax paid by cash 0 85,604 217,430 695,482
Overseas Employees 0 0 0 0
Sales 0 0 0 0
Profit before tax 0 0 0 0
Corporate tax 0 0 0 0
Tax paid by cash 0 0 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, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023 2024
Total dividends paid (KRW in million) 96 442,494 640,409 198,011 14,649
Cash dividend payout ratio - 32.1 30.4 20.9 -
Cash dividends per share Common - 3,800 5,500 1,700 125
Preferred 25 3,825 5,525 1,725 150
Cash dividend yield Common - 4.3 6.2 2.4 0.2
Preferred 0.1 6.7 9.4 3.4 0.4
  • 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, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of violations 0 0 0 0

G-3 Cybersecurity

Violation of Laws related to Customers' Personal Information

(Unit : cases)

Violation of Laws related to Customers' Personal Information : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of violations 0 0 0 0
Cybersecurity Maturity Level
Cybersecurity Maturity Level : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
IT Cybersecurity Maturity Level (0-5) 2.92 3.09 3.18 3.30
OT Cybersecurity Maturity Level (0-5) 0.71 1.07 1.35 1.60

G-4 Ethics Management

Violations of Improper Solicitation & Graft Act

(Unit : cases)

Violations of Improper Solicitation & Graft Act : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of violations 0 0 0 0
Violation of Internal Regulations found by Compliance Monitoring

(Unit : cases)

Violation of Internal Regulations found by Compliance Monitoring : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of violations 0 0 0 0
Deliberation of Ethics Committee

(Unit : times, cases, persons)

Deliberation of the Ethics Committee : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of meetings 21 16 21 14
Deliberation Operation of sales networks 18 23 12 15
Purchasing of goods & services 31 6 12 10
Others 8 15 4 2
Total 57 44 28 27
No. of disciplines due to
violations of Ethics Code		 Corruption or bribery 0 0 0 0
Discrimination or harassment 2 2 1 1
Customer privacy data 0 0 0 0
Conflict of interest 0 0 0 0
Money laundering or insider trading 0 0 0 0
Other ethics Code violations 2 2 2 4
Total 4 4 3 5

Completed investigations and follow-up actions on all violations reported by 2023.

2020
1 case of procurement regulations violation (salary reduction to 2 persons), 1 case of inappropriate use of language and violence between colleagues (suspension to 1 person), 1 case of inappropriate action between colleagues (suspension to 1 person), 1 case of inappropriate claim for allowance (suspension to 1 person)
2021
1 case of procurement regulations violation (salary reduction to 2 persons, reprimand to 3 persons), 2 cases of inappropriate use of action and language between colleagues (suspension to 2 persons), 1 case of inappropriate claim for allowance (suspension to 3 persons, reprimand to 3 persons)
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, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of trainings 8 11 8 5
No. of participants 3,875 3,658 3,577 3,721
Participation rate 100% 100% 100% 100%
Ethics Management Training for Suppliers & Affiliates

(Unit : times, companies, persons)

Ethics Management Training for Suppliers & Affiliates : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Contractors No. of trainings - - - -
No. of companies 1,106 1,002 2,385 2,385
No. of participants - - - -
Affiliates No. of trainings 1 1 1 1
No. of companies 1 1 1 1
No. of participants 6 6 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, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of participants 3,224 (100%) 3,019 (100%) 3,201 (100%) 3,170 (100%)
Average score 99.4 99.6 99.4 99.6
Ethics Management Evaluation by Stakeholders

(Unit : points)

Ethics Management Evaluation by Stakeholders : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
Average score 9.23 9.29 9.21 9.29
Employees 9.20 9.30 9.20 9.30
S/Ss & F/Ss 9.36 8.52 9.12 8.86
Corporate clients 9.43 9.40 9.48 9.63
Contractors 9.31 9.24 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, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of violations 0 0 0 0
Violation of Laws related to Marketing Communication

(Unit : cases)

Violation of Laws related to Marketing Communication : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of violations 0 0 0 0
Fair Trade Training

(Unit : times, persons)

Fair Trade Training : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of trainings 1 2 2 2
No. of participants 414 516 342 331
Anti-competitive Behavior

(Unit : cases)

Anti-competitive Behavior : Category, 2020, 2021, 2022, 2023 Table.
Category 2020 2021 2022 2023
No. of anti-competitive behaviors 0 0 0 0
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