SEOUL, KOREA – On Wednesday, Korean conglomerate GS Group announced that it plans to invest a total of KRW 2.7 trillion this year in its energy business. And GS Group has set its 2013 sales goal at KRW 80 trillion, up about 10% from last year’s KRW 73 trillion (estimated).
Since the inception of GS Group, it has continued to make an investment of over KRW 2 trillion annually. This year, it aims to bolster the competitiveness of its flagship businesses and expand its overseas business.
The pledged 2 trillion investment will flow into GS Caltex’s fourth bunker oil cracking facility (VGO FCC), GS Energy’s LNG terminals, overseas resource exploration projects, GS EPS power generation facilities, and GS Global’s oil and soft coal mining areas. On top of that, GS Group’s distribution business and construction segment will receive KRW 450 billion and 250 billion in investment respectively.
GS Caltex’s fourth bunker oil cracking facility (VGO FCC), in which a total of KRW 1.3 trillion was invested, will go into operation in the first half of this year.
Sean Chung (hbpark@etnews.com)
**Article provided by etnews [Korea IT News]
[Reference] : http://english.etnews.com/electronics/2715655_1303.html
