'Integrated Energy
Service Leader'

GS Caltex Chairman Hur sets three management goals for 2007

GS Caltex Chairman & CEO Hur Dong-soo said GS Caltex is striving to rise to an integrated energy service leader by diversifying its businesses to all energy areas, including city gas, electricity, petroleum exploration, GX project, LNG and new energy projects under a vision "The Leader in Providing Total Energy Service,"dawn up in 2000.
"This year is a significant year marking the 40th anniversary of GS Caltex's founding. GS Caltex has achieved a sustainable growth centering around petroleum and petrochemicals, which serve as the nations"mainstay industries and driving force behind economic development,"GS Caltex Chairman Hur said in his New Year's message.
Chairman Hur extended a thank-you to customers, shareholders and his executives and staff for providing guidance in the company's growth and development for the past 40 years, saying, "GS Caltex is heading for a bright future based on the capabilities it has so far accumulated."During last year,
GS Caltex has aggressively implemented projects for the future and secured a foundation for a sustainable profit growth in all business areas, he said.
First of all, Hur said GS Caltex gave the second Heavy Oil Upgrade (HOU) Plant project a smooth sailing and struck quality crude oil and natural gas in an overland mining area in Thailand.
The company inaugurated a new energy research center designed to promote futuristic energy projects in a full-fledged fashion, set up a locally incorporated company in China to push ahead with the GX project and established the GS Caltex Foundation designed to step up social contribution activities, he said.
On the other hand, he said, GS Caltex posted relatively lower figures in profits, compared to rivals due to the sluggish domestic demand, arising from crude oil price hikes and the appreciation of the Korean currency, and the business circumstances are forecast to prevail into this year.
In an effort to cope with such business circumstances and advance the realization of its vision, Chairman Hur said, GS Caltex has set as its management goals for 2007 establishment of foundation for sustainable growth, strengthening of organizational competitiveness and maximization of profits.
Chairman Hur urged each business department to draw up detailed action plans pursuant to this year's management goals and translate them into action.
First, Hur called for coping with business environment changes. He noted that in order to overcome business uncertainties, it is more important to plan scenarios designed to cope with all possibilities. Even though business circumstances undergo changes so fast, he said, GS Caltex will achieve its business goals by minimizing risks if it makes a thorough preparations.
Second, he called for a sustainable profit growth. A sustainable management for pursuing coexistence with the economy, environment and society forms an integral part for doing business, and accordingly, the company needs to secure a steady profit together with environmental preservation and social responsibility.
Hur called on his staff to achieve a sustainable profit growth by following corporate ethics, ensuring environment-friendly management and conducting activities contributing to society.
Third, he urged his staff to assume a challenging attitude and securing expertise. He said, "if we have no challenging attitude in performing all duties, we cannot pursue changes and innovations, and our striving to proactively find problems and solve them without fear of a failure is to become a driving force behind the development of individuals and company."He urged his staff to become world-class experts in their own duties through strenuous self-development, saying that expertise can raise not only their own value, but also their pride. nw

GS Caltex Chairman & CEO Hur Dong-soo joins newly recruited GS Caltex employees during a performance marking the launch of the New Year's business on Jan. 2. GS Caltex Chairman Hur (right photo)