Established in 1964, Hyundai Oilbank Co., Ltd was the first private oil company in the Republic of Korea. For the past half century, Hyundai Oilbank has led the energy industry of Korea and now has become a global comprehensive energy enterprise with its expanding presence in the petrochemical and lubricant sectors.
The Hyundai Oil Bank company Luanched its own automotive & Industrial Lubricant named the Hyundai Xteer in 2013. Hyundai Xteer meets the API SN plus standard and SAE standards. The wide Range includes mostly synthetic products. Hyundai Oilbank is also releasing the diverse after-market products for vehicles. It developed "HYUNDAI XTeer Alpha" which is a fuel additive based on raw materials from BASF of Germany as well as Urea water "Pronox" that greatly decrease the nitrogenous compound of diesel vehicles.