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LG Chem and CJ Logistics agreed to cooperate in the recycling of used packaging wraps that will be collected from distribution facilities. For their collaborative project, the two companies will set up a recycling ecosystem for the said material at logistics hubs.
LG Chem and CJ Logistics will recycle the packaging wraps that were discarded at distribution centers. The chemical arm of the LG Group will make recycled wraps and then deliver them back to its partner logistics firm and will continue to supply as long as there are packagings to be recycled.
As per Aju Business Daily, based on the data collected by LG Chem, a good number of wraps being used for packaging in the country were for securing loads at logistics centers and other industrial facilities. It was noted that most of the plastic wraps were made of PET (polyethylene terephthalate).
LG Chem also pointed out that although the annual PET waste collected in the country is around 800,000 tons, including plastic bottles, only 40% are recycled. Thus, together with CJ Logistics, LG Chem is aiming to recycle as much plastic as it can collect.
Meanwhile, LG Chem held a groundbreaking ceremony for the construction of South Korea’s first supercritical pyrolysis plant and an aerogel which is the next-generation insulation material. The recycling plant is set to be built at the Seokmun National Industrial Complex in Dangjin, Chungnam.
“The Dangjin Plant will become a global center for the eco-friendly materials sector,” Shin Hak Cheol, LG Chem’s chief executive officer, said in a press release. “LG Chem will play a leading role in sustainable development and to achieve carbon-neutrality goals as a leading company in the petrochemical industry.”
The event was attended by Joo Young Hoon, the Ministry of Trade, Industry and Energy secretary; Oh Seong Hwan, Mayod of Dangjin, Shin Hak Cheol, LG Chem’s CEO, and Noh Kug Lae, executive vice president. It was mentioned that Hyeon Sung Hong, Hyundai Engineering’s chief executive officer, and UK-based Mura’s CEO, Steven Mahon, were also in attendance to provide technical support for the plant.
