Expansion of Gas Station Vapor Recovery Systems Cooperation
Expanding ESG Management to Improve Quality of Life for Citizens
Park Hyun-gyu, Head of the Stockpile Business Division at Korea National Oil Corporation (third from the left), and Yoo Seung-do, Head of the Climate and Air Headquarters at Korea Environment Corporation (fourth from the left), are signing a business agreement.
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Korea National Oil Corporation is strengthening cooperation on ESG management by partnering with Korea Environment Corporation.
The two organizations signed a business agreement on the 16th to expand ESG management.
According to the agreement, they will expand the installation of vapor recovery systems at domestic budget gas station sites to reduce vapor emissions, known as causes of safety accidents such as air pollution and fires.
The two organizations also agreed to strengthen mutual cooperation systems in ESG business sectors where their interests intersect.
A vapor recovery system is a facility that reduces emissions of volatile organic compounds generated from gas station storage and fueling facilities. It is effective in improving air quality and reducing casualties caused by explosions and inhalation.
Based on the agreement, the Oil Corporation plans to accelerate the installation of vapor recovery systems at budget gas stations together with the Environment Corporation.
They will also be responsible for recommending the installation of recovery systems and improving operational systems to budget gas station operators.
The Environment Corporation will focus on safety certification of the equipment and systematic technical support for each business operator.
Park Hyun-gyu, Head of the Stockpile Business Division at Korea National Oil Corporation, who attended the signing ceremony, said, “Based on this agreement, cooperation and efforts between the two companies for ESG management to improve the quality of life of the people will be strengthened in more fields in the future.”
Yoo Seung-do, Head of the Climate and Air Headquarters at the Environment Corporation, said, “We will take a more active role in efforts to reduce air pollutants and fine dust and prepare and implement practical measures such as support for small gas stations.”
In addition, the two organizations agreed to expand cooperation in renewable energy transition projects such as expanding electric vehicle chargers and efforts to practice environmental protection for sustainable development to strengthen ESG management activities.
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