Local petroleum and refinery company S-OIL's chief Nasser Al-Mahasher was awarded at the ceremony to mark the International Business Day on Thursday.
He was given the award for investing more than 5 trillion won in constructing the petroleum and refinery complex located in Ulsan in the south-east of the country. He was also recognized to have significantly contributed to the additional purchase (around $1.8 billion) of S-OIL's shares by Aramco Overseas, the European subsidiary of Saudi Aramco.
The Saudi Arabian chief formerly worked for the world's largest energy firm Saudi Aramco for 22 years and was appointed as the chief of S-OIL in March of 2012.
Since taking office, he actively proposed Aramco to invest in South Korea, stressing the importance of the Asian market.
The new investment of S-OIL is set to be completed by 2018 and its plant is expected to create around 12,700 employees and generate 1.1 trillion won in high-value added.
