SEOUL, SK Innovation Co., South Korea's leading refiner, said Tuesday its net losses narrowed in the fourth quarter from a year earlier on increased sales in its lubricants business and overseas oil development projects. Net losses for the three months ended in December decreased to 10.89 billion won (US$8.17 million) from 481.76 billion won during the same period of 2022, the company said in a statement. The company shifted to an operating profit of 72.62 billion won in the fourth quarter from an operating loss of 764.89 billion won a year ago. Sales rose 2 percent to 19.53 trillion won from 19.14 trillion won. For all of 2023, however, net income plunged 71 percent to 546.33 billion won from 1.89 trillion won the previous year due to lower refining margins and weak sales of electric vehicle batteries. Equity gains from SK On, its wholly owned car battery unit, were reflected in SK Innovation's annual results. "The Russian invasion of Ukraine in February 2022 pushed up oil prices and oil firms' refinin g margins. But last year, comparatively lower margins cut into the full-year bottom line," a company spokesperson said. The company expected demand for EV batteries to start recovering later this year as the Federal Reserve is expected to cut interest rates. Operating profit declined 51 percent to 1.9 trillion won from 3.92 trillion won during the same period. Sales fell 0.9 percent to 77.28 trillion won from 78.06 trillion won. SK Innovation owned a 89.52 percent in car battery unit SK On as of end-September. Source: Yonhap News Agency Feb. 6, 2024, the Royal Thai Army organized a grand event "Amazing Muay Thai Day, Famous to the World" for the year 2024, Amazing MuayThai World Festival 2024. As the government has designated February 6th of every year as 'Thai Boxing Day' which is the day of the accession to the throne of King Sanphet VIII or 'King Suea', he was skilled in Thai boxing. In order to pass on the art of Muay Thai to future generations. It is also a valuable cultural heritage of the Thai nation until the present. The Royal Thai Army therefore sees the importance of Mae Mai Muay Thai is not just a martial art. But if it is an expression of arts, culture, customs, identity of the Thai nation. Therefore, it has been carried out in collaboration with the Tourism Authority of Thailand (TAT), Sports Authority of Thailand (SAT), Ministry of Culture. Government agencies Private sector agencies and Prachuap Khiri Khan Province Jointly organize the "Amazing Muay Thai Day, Famous to the World" for the year 2024 "Amazing MuayThai World Fe stival 2024" from February 4-6, 2024 from 4:00 p.m. - 10:00 p.m. every day at Rajabhakti Park, Hua Hin District. Prachuap Khiri Khan Province The objective is to promote Thai boxing as a national sport. and Thai national heritage published history Inscribed with beautiful and international cultural traditions To make the sport of Muay Thai known around the world. and to expand cultural tourism by using Muay Thai as the medium Let Rajabhakti Park be the home of Muay Thai that Thai people and tourists must come to. Today (February 6, 2024) at 5:45 p.m., Mr. Settha Thavisin, Prime Minister, has the honor of presiding over the official event under the name "Amazing Muay Thai Day, Famous to the World" for the year 2024, along with Mr. Anutin. Charnvirakul, Deputy Prime Minister and Minister of Interior, Mr. Suthin Klangsaeng, Minister of Defense, Mr. Sermsak Phongphanich, Minister of Culture, Ms. Sudawan Wang Suphakit Koson Minister of Tourism and Sports Honored to work together As for the Army, there is General Charoenchai Hinthao, Commander-in-Chief of the Army. Along with the high commanders to welcome Activities include Placing a wreath of fresh flowers to pay homage to the royal monuments of the 7 First Kings of Siam, to pay homage to the statue of King Sanphet VIII (King Suea), and to pay homage to the royal portrait of His Majesty the King. Number 10: Receive auspiciousness from Phan Phum. Giving auspicious blessings to senior boxing teachers Then enter 3 sets of performances, including set 1 'Amazing Muay Thai From the roots of Siam Thai Martial Arts Heritage to the World' Set 2 'Ancient Traditions surrender to disciple Teacher recruitment and teacher tenure The magic of Muay Thai culture' and the third set 'Investigating the art of the Wai Khru dance, the Mae Mai Muay Thai, to the letter-transforming drone. Spectacular Lights' with more than 3,000 Royal Thai Army personnel participating in the Wai Khru Ceremony, together with boxers from the King Suea Boxing Association and the people, a total of more than 5,000 people, along with lettering using more than 700 letter-writing drones and Firework display To show the importance and greatness of the work . Source: Thai News Agency