S-Oil Invests in Carbon Reduction Specialty Paint Venture Company

Strengthening ESG Management Measures

S-Oil announced on the 23rd that it held an investment contract signing ceremony with the paint venture company EU CNC, which possesses carbon reduction technology. The specific investment scale was not disclosed.

EU CNC has developed a special additive and holds eco-friendly water-based paint manufacturing technology that can provide both insulation and heat shielding simultaneously. The company was recognized for its technological capabilities and obtained the Ministry of Environment's green technology certification and the Public Procurement Service's innovative product qualification in September last year.

S-Oil expects the government, which has set the '2030 Carbon Reduction' goal, to actively promote energy efficiency improvements through remodeling of existing buildings and reduce energy consumption by applying eco-friendly innovative products to new buildings. An S-Oil official stated, "EU CNC's eco-friendly, energy-saving water-based paint, certified by the government, will play an important role as a game changer."

While strengthening carbon reduction activities, S-Oil is also focusing on ESG management by investing in small and medium-sized enterprises that possess carbon reduction businesses and related technologies. Through its long-term growth strategy 'Vision 2030,' the company aims to maximize profitability in existing businesses while simultaneously entering new business areas such as hydrogen, fuel cells, plastic recycling, and eco-friendly product development based on biomass raw materials, driving the company's sustainable growth.