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[Alpha Biz=(Chicago) Reporter Paul Lee] Following S-Oil (1 billion won) and Hyundai Oilbank (10 billion won), SK Energy and GS Caltex also asked for 15 billion won and 10 billion won for heating costs for the energy vulnerable, respectively. As there have been growing calls to impose cross taxes on oil refiners by making nearly 15 trillion won in operating profit thanks to last year's high oil prices, the company seems to be offering donations sequentially to appease public opinion.
SK Energy donated KRW 15 billion to the Korea Energy Foundation on the 9th, asking to use it for the domestic energy vulnerable, including single parents, the single elderly, and the disabled, who are suffering from increased energy costs.
As a result, all four oil refining companies participated in the donation process to support heating costs for the vulnerable and paid a total of 36 billion won.
Last year, SK Innovation's oil business division (SK Energy and SK Trading International) posted an operating profit of 3.3911 trillion won, with sales of 52.5817 trillion won. Sales increased 77% and operating profit increased 191.9% compared to the previous year. Both sales and operating profit are record highs.
GS Caltex has yet to announce its fourth-quarter earnings last year, with cumulative operating profit alone exceeding 4 trillion won by the third quarter. The company has already paid performance-based bonuses equivalent to 1,000% of its basic salary to its employees.
Alphabiz Reporter Paul Lee(hoondork@alphabiz.co.kr)
