SK chemicals partners with the Ministry of the Interior and Safety, local governments, and private companies as it looks to create a waste banner recycling model to reduce waste from discarded banners. Ahn Jae-hyun, President and CEO of SK chemicals, announced on the 5th of June that the company had signed an MOU on “waste banner recycling for regional and corporate co-prosperity” at the company’s Ulsan Plant in Nam-gu, Ulsan. Five local governments, REVELOP, Sejinplus, and Kakao also signed.
SK chemicals
SK chemicals Partners with Ministry of the Interior and Safety and Local Governments to Create a Leading Waste Banner Recycling Model
The agreement forms part of a collaborative project involving the Ministry of the Interior and Safety, local governments, and companies as they aim to establish a virtuous cycle for waste banners. The process will involve collecting discarded banners, converting said banners into raw materials using chemical technology, and then recycling them into new products.
A representative from the Ministry of the Interior and Safety said, “The results of this pilot project will be actively reflected in future policies to promote waste banner recycling. We plan to establish recycling guidelines at the central government level and expand successful cases nationwide based on performance analysis. In addition, we will work with relevant ministries, including the Ministry of Environment, to encourage the use of recycled products and discuss strategies for market expansion.”
Kim Hyun-seok, Head of the Recycling Business Division at SK chemicals, added, “Banners have long been used as a cost-effective and impactful promotional tool, but most are discarded after a single use, prompting various efforts to reduce related waste. Through this agreement, we aim to play a key role in establishing a circular economy for banners, while continuing our efforts to build a circular recycling ecosystem across diverse sectors both domestically and internationally.”
How the project will work
As part of the agreement, the Ministry of the Interior and Safety is set to support coordination between local governments and companies to promote growth. The Sejong, Gangneung, Cheongju, Naju, and Changwon local governments will collect waste banners establishing a stable supply system, while also promoting the adoption of products made from recycled raw materials from said banners.
SK chemical will fully break down any collected waste banners at the molecular level, utilising depolymerisation-based circular recycling technology, converting the waste into recycled PET materials. First, the recycled materials will be applied to electrical and electronic products through mechanical recycling, combined with high-value-added technologies for a certain period. The recycled PET materials will be used by REVELOP and Kakao to manufacture various end products like clothing, desks, and banners. Additionally, Sejinplus is working to upcycle waste banners into automotive interior materials and construction materials.