Lubrizol and HD Hyundai Oilbank sign a Memorandum of Understanding

Lubrizol and HD Hyundai Oilbank have signed a memorandum of understanding (MoU) to explore strategic collaboration opportunities in the Korean and Asia-Pacific lubricants market.

The agreement creates a framework for deeper technical and commercial cooperation, combining HD Hyundai Oilbank’s expertise in base oils with Lubrizol’s strengths in additives and specialty chemicals. Through this partnership, both companies aim to drive innovation in lubricant solutions that meet the evolving demands of both regional and global markets.

Under the MoU, the two companies will explore collaboration in additive and lubricant technology development, market intelligence sharing, joint product development, and product qualification activities. The integrated approach is expected to accelerate time-to-market, improve solution effectiveness, and help customers adapt to changing technical and operational requirements.

Henry Liu stated that the partnership reflects Lubrizol’s commitment to strengthening innovation across the value chain and delivering differentiated solutions aligned with emerging market trends and customer expectations.

Tae-Oh Jung highlighted that the collaboration with Lubrizol will enable both companies to co-develop lubricant solutions from the early stages of innovation. He added that the partnership is expected to transform market insights into practical, high-value solutions tailored to customers’ evolving needs.

The MoU further reinforces both companies’ commitment to advancing lubricant technology through collaboration, enhancing competitiveness, supporting sustainable growth, and contributing to a more resilient and innovative lubricants ecosystem in a rapidly evolving market landscape.

Lubrizol, a Berkshire Hathaway company, is headquartered in Wickliffe and operates more than 100 manufacturing facilities, sales offices, and technical centres worldwide, employing over 7,000 people globally.

The detailed article is published by https://www.nyk.com/english/ can be accessed from. https://www.nyk.com/english/news/2026/20260421_01.html