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History 1979 Establishment of SKMS History 1980 Take over of Korea Oil Corporation History 1988 Success of Oil Exploration
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Acquisition of Korea Oil Corporation, Beginning SK's Vertical Subsidiary Model

In early 1980, the Korean government announces the Order of Petroleum Supply and Demand Control in response to a national crisis for unmet oil needs. Sunkyong leverages its existing strong relationship with Saudi Arabia and successfully concludes a long-term oil supply agreement. The company then begins supplying oil to Korean oil companies on July 17, 1980.

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