Seoul-South Korea's plan to set up discount fuel stations hit a snag November 9 when Hyundai Oilbank decided not to provide oil products to the proposed stations. In late October, the energy ministry announced it would turn 10% of the nation's 13,000 fuel stations into discount centers that sell oil products at lower-than-market prices by 2015, in a move to bring down retail oil prices. Under the plan, state-run Korea National Oil Corporation and the National Agricultural Cooperative Federation have issued a tender to Hyundai Oilbank and the country's other three refiners-SK Innovation, GS Caltex and S-Oil-to supply gasoline and diesel to the proposed discount stations.
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