SK chemicals Wraps Up ChinaPlas Triumphantly and Unveils Blueprint for Circular Recycle™ and Solutions

- ChinaPlas 2024 concludes on a high note, Customer Acclaim for Closed Loop Unveiled at Exhibition

- "SK chemicals will solve the waste problem with its complete resource circulation system and sustainable materials"

SHANGHAI and SEONGNAM, South Korea, April 26, 2024 /PRNewswire/ -- 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.

Compilation of Innovative Circular Recycle™ Applied Products including Material Experience Zone 

SK chemicals, which holds the No. 1 position in the Chinese copolyester market, showcased a wide range of sustainable copolyester and polyester (PET) products that are already commercialized and used by various global owners worldwide. 

SK chemicals also presented a range of recycled materials, including the Circular Recycle™ copolyester "ECOTRIA CR" produced using chemical recycling technology, the copolyester "Claro" that can be classified and recycled after use, and the Circular Recycle™ PET "SKYPET CR."

SK chemicals exhibited not only materials but also products that have already been commercialized using these materials. Cosmetics, home appliances, and household goods from various global brands that use ECOTRIA CR, Final products such as tire cords and Samdasu Reborn that use SKYPET CR, which have been successfully commercialized using actual Circular Recycle™ materials, attracted great interest among exhibition visitors.

In the exhibition hall's designated Circular Recycle™ experience zone, materials made from petroleum and physically recycled materials were displayed alongside those applied with Circular Recycle™ technology, allowing industry officials to directly compare the color and texture of the materials, increasing visitor participation.

A wall within the exhibition hall presented an interactive display illustrating the entire Value Chain process for visitors. The process began with the collection of plastic waste in the city, followed by categorization according to plastic type, and then proceeded through depolymerization, culminating in the transformation into a product. 

Through these complete circulation systems and materials that apply Circular Recycle™ technology, SK chemicals plans to establish itself as a company that provides total solutions covering the entire process to customers seeking to achieve zero waste.

Ahn Jae-hyun, CEO of SK chemicals, stated, "Through the response and interest shown by customers and visitors regarding SK chemicals' technology and complete resource circulation system showcased at this exhibition, we were able to gain greater confidence in the direction and vision of our business. We will further advance our technological prowess and competitiveness, strengthen collaboration with client companies, and definitely achieve the establishment of a complete resource circulation system that can encompass the industry."

[Terminology]

1) Circular Recycle™: Refers to "Chemical Recycle." SK chemicals is pioneering a sustainable "circular recycling" material market, considering the infinite recyclability of chemically recycled materials as a key future business.