SEOUL: S-Oil, South Korea’s third-largest oil refiner, has revived its spring recruitment program for the first time in seven years, as it seeks to increase its workforce in lieu of a new refinery complex set to open in Ulsan.
The expanded recruitment comes as “S-Oil seeks new talents ahead of the opening of its Onsan refinery scheduled to open by 2018,” according to industry sources. The factory, for which S-Oil invested 5 trillion won ($4.45 billion), will convert heavy fuel oil lower in quality than crude oil into high-value gasoline and olefins.
Moreover, industry watchers noted that the recent agreement struck between the management and labor union earlier this year to implement a “wage peak” system a work sharing policy that extends the retirement age while cutting pay likely gave the company more room to hire new recruits.
The company is reportedly planning to hire around 40 new university graduates this spring which is similar to the recruitment quota for last year’s fall recruitment season. Roughly 2,700 employees currently work at S-Oil’s Seoul headquarters and Ulsan factories.
