 |
Chun Young-won |
The Korea Petroleum Association, one of the most influential lobby groups in the oil industry, has appointed Chun Young-won, 69, a former lawmaker from the ruling Saenuri Party, as its new chairman, the organization said in a press release.
CEOs of four regular member firms ― SK Energy, GS Caltex, S-Oil and Hyundai Oilbank ― all agreed to his appointment in a recent general meeting, it added.
The association, which was established in 1980 to tide over the second oil crisis, has preferred a chairman from the political scene as one of its goals is to contribute to forming the nation’s petroleum policies for a stable oil supply. Chun reportedly has built close ties with President Park Geun-hye.
Excluding the nation’s big four oil refineries, the association offers special membership only to the state-run Korea National Oil Corp., and other companies are registered as associate members.
By Seo Jee-yeon (
jyseo@heraldcorp.com)
