GS Caltex chairman stresses importance of technology

Speaking at a visit to a GS Caltex Lubricants plant in Incheon, South Korea, GS Group Chairman Huh Chang-soo stressed both the importance of original technologies and the need to pursue mutual growth with small and medium suppliers as critical to success. GS Caltex is Korea’s second-largest oil refiner and has been a strong entrant into the lubricants market in recent years. “GS has been showing a strong performance overseas with its solid base in the domestic market. I believe we can become a leading global firm if we secure original technologies with which we can compete with competitors,” Huh said. In 2010, GS Caltex exported US$800 million of lubricants, accounting for 75% of total sales. (March 9,2011)