TK Chemical grows Green New Deal partnerships
Local media have reported that South Korean fibre producer TK Chemical recently signed a business agreement with the country’s Ministry of Environment, SK Hynix (the world’s second-largest memory chipmaker and third-largest semiconductor company) and multinational conglomerate Doosan to build a high-quality value chain for recycling transparent polyethylene terephthalate (PET) bottles.
The KrPET yarn-producing company has already been working with Doosan, which transforms waste PET bottles into chips for TK Chemical to use in the making of its recycled PET (rPET) yarn, for some time.
Significantly, the three commercial organisations agreed to implement the government’s Green New Deal policy, the overarching intention of which is to mitigate against the negative impacts of the covid-19 pandemic, while establishing a roadmap for future low-carbon and climate-neutral economic growth. (Read more about South Korea’s Green New Deal in the latest issue of WSA.)
As a result of partnering with SK Hynix, the agreement represents the first time a private Korean company has promoted the recycling of waste plastic bottles collected on its premises into yarn and other articles, local media said.
