GS Caltex, 50% of whose shares were owned by Chevron, illegally operates tug service firm
GS Caltex, 50% of whose shares were owned by Chevron, illegally operates tug service firm
  • Jung Se-jin
  • 승인 2018.11.16 09:27
  • 댓글 0
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It has been revealed that GS Caltex, whose shares were owned equally by Chevron and GS Energy with 50:50, offered various benefits such as giving work to a tug service company that GS Caltex operates under a borrowed name.

According to the Korea Coast Guard on Nov. 13, GS Caltex was caught on charges of falsely reporting its stock holdings to the Fair Trade Commission in order to hide the fact that it owns an A tug service company under a borrowed name.

Even though an oil refiner, the owner of crude oil, was unable to register for the tug service business, GS Caltex registered the A company falsely in November 2009, operated the company, and provided special favors to it.

Ten people, including D (64), former director of GS Caltex, who provided special favors, were booked without detention on charges of violating the ship entry and departure law. 

According to the investigation by the Korea Coast Guard, the director D provided special favors to the A company by lending 7 billion won to help A build ships, even though it was known that the company could not offer collateral due to excessive loans.

"We will conduct a strict investigation on the management of the company that gives all work to a certain company by using its superior position. We plan to continue cracking down on those involved in the shipping port industry," a coast guard official said.

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