A completion ceremony was held on Wednesday in East Kalimantan for a new palm oil refinery developed through a joint venture with GS Caltex. The event was attended by POSCO International CEO Lee Kye-in, GS Caltex CEO Hur Sae-hong, and senior representatives from both companies.
The refinery substantially increases processing capacity and enables the production of high-quality palm oil products for domestic and international markets. POSCO International secured stable raw material supply earlier through the acquisition of an established Indonesian plantation company, completing the upstream-to-downstream integration.
GS Caltex will utilize output from the new facility to supply biofuel to the Korean market, supporting growing demand for lower-carbon energy solutions and contributing to national energy diversification objectives.
With the integrated value chain now operational, POSCO International is positioned to accelerate growth in the bioenergy sector while maintaining focus on operational efficiency and sustainable practices throughout its Indonesian palm oil business.
The project strengthens cooperation between the two Korean companies and reinforces their combined presence in the global palm oil and renewable fuels industry.
