Contribution toward carbon neutrality policy by implementing low-carbon new energy projects.

KNOC has been securing a sustainable system using its assets, technologies, and experience in order to contribute toward the carbon neutrality policy of the Nation. KNOC has been implementing the underground storage of CO2 for the first time in Korea, using the East Sea Gas Field. KNOC has been also leading and participating in the multi-institutional joint research project by the government with a total project cost 32.9 Billion KRW. Moreover, KNOC has been strengthening the hydrogen and ammonia project partnership with the UAE state-run oil company and relevant Korean enterprises as well as implementing a floating offshore wind power generation project.

Achievement of greenhouse gas reduction goals for 10 consecutive years in the public sector

KNOC is endeavoring to implement ESG management in various ways, in particular, focusing on the practice of eco-management. Through such endeavors, KNOC achieved 108% of its the greenhouse gas reduction goalin 2021 and was selected as the Good Organization with Greenhouse Gas Goal Management System (36 organizations) among 830 organizations, including central departments, local authorities, and public organizations.

No environmental accidents by field-focused prevention of accident

KNOC implemented the VOCs reduction and safety management system by operating an air control system for the storage of branches. Furthermore, KNOC realized ‘zero’ oil spill by establishing an operating safety enhancement plan for offshore facilities and the inspection of major facilities for warehousing and shipping. In addition, KNOC achieved zero environmental accidents by collection and inspection of samples to check for soil contamination and oil spills from drilling on land.

Promotion of stability of public economy by supply of oil price and petroleum information

The burden on the public has been aggravating due to increasing oil price caused by the unstable domestic and international environment. KNOC provides information on oil refinery enterprises and sales price in each gas station using Opinet (web/App), contributes to solving the urea solution crisis, and endeavors to stabilize oil price as well as accelerates market competition, including the promotion of government’s policies, and inducing suppliers to reduce prices.

‘Good’ institution in national core infrastructure disaster control evaluation

KNOC achieved the ‘highest level’ in the on-site safety and disaster control field by advancing an ICT-based disaster and safety control system. KNOC intensified the safety of petroleum storage sites by building an integrated defense system against drones and improved marine warehousing and shipping facilities for petroleum reserves, including offshore buoy GPS and an automatic identification system for an ocean jetty and pier collision warning system.

Social contributions, focusing on 3 key fields

KNOC designated 3 key fields for social contribution, “energy, safety and environment protection, the disabled and multi-culture’ and has been participating in social contribution activities as a member of the local community. For energy, KNOC supports the energy alienated class. For safety and environment protection, KNOC endeavors to secure a safe and pleasant environment by distributing safety management knowhow. Moreover KNOC supports neglected neighbors, including multi-cultural families and operates sports teams with the disabled for social contribution in the disabled and multi-culture field.

Establishment and operation of an ESG Committee in the Board of Directors

KNOC established an ESG Committee in the Board of Directors to make the best use of the objective viewpoints and professional knowledge of non-executive directors and expanded business proposals by non-executive directors focusing on ESG. The ESG Committee Operation Regulations were enacted in 2022 and 23 ESG tasks were identified and applied to the construction projects. As such, KNOC is enhancing enterprise-wide ESG management.

Introduction of an Employee Engagement System

KNOC expanded the management engagement of employees for transparent and balanced management. KNOC has been addressing the labor-management consensus by operating an employee engagement system before the introduction of the labor director system. Furthermore, KNOC is contributing to strengthening the transparency of the organization and building a win-win relationship between labor and management.

Achievement of ‘Good or Higher Class’ in information release evaluation by the Ministry of the Interior and Safety for 3 consecutive years

KNOC substantially improved the information release system for the public, including the facilitation of prior information release. In accordance with such efforts, KNOC achieved an information release rate of 15.6%, higher than the average of public organizations in Group 1. The release rate by request was significantly improved from 75.9% in 2020 to 85.2% in 2021, so KNOC achieved the ‘Good or Higher Class’ in the information release evaluation by the Ministry of the Interior and Safety for 3 consecutive years.