The complete resource circulation system (Closed Loop) presented by SK chemicals at the international exhibition has garnered praise from industry officials and clients.
SK chemicals announced on the 26th that it successfully concluded its participation in ChinaPlas 2024, held at the Shanghai Hongqiao National Exhibition and Convention Center in China from the 24th to the 26th.
During this period, SK chemicals unveiled a new concept of a complete resource circulation system encompassing its entire business, from materials and production infrastructure based on Circular Recycle™ technology, which chemically decomposes discarded plastics into molecules and converts them back into raw materials, to solutions for recycling waste resources.
The complete resource circulation system involves classifying, collecting, and reprocessing discarded post-consumer plastics, turning them back into plastic raw materials, which are converted into materials and products. Once these materialized products are discarded, they can be continuously recycled without generating waste by repeating the same process.
The complete resource circulation system pursued by SK chemicals is based on the company's core competencies in Circular Recycle™1) technology and infrastructure. SK chemicals has previously secured the world's first commercial production capability for chemically recycled copolyester products. In March of last year, SK chemicals invested approximately 130 billion won to acquire the chemical recycling business division of "Shuye," a Chinese company specializing in green materials, and established the "SK Shantou" corporation. SK Shantou is a company that produces 70,000 tons of recycled raw material r-BHET and 50,000 tons of chemically recycled PET annually.
SK chemicals is not stopping there but is pushing forward with new businesses to provide comprehensive solutions necessary for the process of turning discarded waste resources into products.
Establishing a comprehensive recycling system requires the securing of waste plastics for use as raw materials and the development of an efficient waste resource management system. To this end, SK chemicals has signed an MOU with "Shanghai Yuekun Environmental Protection Technology," a Chinese company specializing in waste resources, for the joint development of a waste plastic recycling business.
SK chemicals is expected to build a specialized complete resource circulation structure that takes into account the unique characteristics of each industry, going beyond the existing general collection systems for PET bottles and other items.
Regarding this, Kim Hyun-suk, the Head of the Business Development Division at SK chemicals, explained, "Customized solutions for materials used in each industry and their production and collection processes are necessary in order to establish a complete circulation structure, as the form and type of waste discarded by major industries vary, including home appliances, automobiles, and fashion."
Through this, SK chemicals plans to expand the concept of "Bottle to Bottle," which recycles PET bottles back into bottles, to the entire industry, establishing industry-specific complete circulation structures such as "Car to Car" and "Device to Device" that recycle and upcycle discarded waste in each industry.
