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HyoSung TNC collects discarded fishing nets from the ocean, breaks them down under high heat and pressure to extract nylon, and then supplies it to brands like The North Face and K2 to make jackets and bags. Discarded fishing nets account for up to 10 percent of ocean pollution, posing a threat to marine life. They’ve utilized such “waste” to create clothing and bags. HyoSung TNC is also the world’s only company that produces all three major synthetic fibers (nylon, polyester, spandex) through “waste recycling.”
When plastic was invented in 1869, plastic, it was once hailed as an “environmentally friendly material” that replaced products made from wood and iron, preventing deforestation. However, after more than 150 years, plastic is now referred to as an “environmental-destructive substance” that does not decompose for a long time. Because of this, countries around the world are developing new technologies to recycle traditional plastics and are diving into commercializing them.
Consulting firm McKinsey predicts that “by 2050, 60 percent of the global plastic produced will be recycled plastic.” The current market for recycled plastics, valued at ￦60 trillion, is expected to reach ￦85 trillion in 2027 and an astonishing ￦600 trillion by 2050 (US$1=￦1320).
◇The World’s Largest “Recycled Plastic Complex” in Ulsan
SK GeoCentric is building the world’s largest “plastic recycling cluster” in Ulsan. It is investing ￦1.8 trillion in 22 soccer field-sized sites (215,000 square meters) and plans to complete it by 2025. Plastic recycling involves three methods: in addition to the method of pyrolysis and post-processing, which melts various plastics at high temperatures to extract clean naphtha, there is also “depolymerization,” which breaks down PET at the molecular level, and “solvent extraction,” a method to dissolve polypropylene (PP) in a solvent and vaporize it to extract high-purity PP.
Having all three of these technologies applied in one facility is a global first for the Ulsan cluster. This facility is set to process approximately 320,000 tons of waste annually, producing 230,000 tons of finished products. Even before its completion, over 15 percent of the annual production volume has been pre-sold.
Global chemical companies are also showing interest in SK’s Ulsan mega-complex, with some participating in technological collaborations. Companies like Canada’s Loop, specialized in depolymerization, and U.S. PureCycle Technologies, focusing on solvent extraction, are entering the Ulsan complex through joint ventures.
Na Kyung-su, CEO of SK GeoCentric, mentioned that the Ulsan cluster has a significant advantage in terms of location because it’s close to China and Southeast Asia, where there’s a high demand for plastics in manufacturing.
◇LG, GS, Lotte, and Even Small Businesses Join In
In a country where not a drop of oil is produced, petrochemical products play a crucial role in the national economy, ranking as the third-largest export item following semiconductors and petroleum products. Domestic companies that have led this industry are now actively stepping into recycled plastics.
LG Chem is constructing a “supercritical pyrolysis” plant with a capacity of 20,000 tons, which utilizes high-temperature water vapor, in Dangjin, South Chungcheong Province, by next year. Lotte Chemical is building a PET-only depolymerization plant with a capacity of 45,000 tons at its Ulsan Plant 2.
GS Caltex is also set to complete a 50,000-ton waste plastic pyrolysis plant next year, with plans to expand the plant’s capacity to 1 million tons. Hanwha Solutions is using recycled polyethylene made from waste plastics in its product packaging and aims to increase the supply volume of this product to 10,000 tons annually by 2027.
In addition, smaller companies have been making strides, with Eco Creation successfully using oil produced through plastic pyrolysis to operate diesel generators back in May.
☞재활용 플라스틱
☞Recycled Plastic
Recycled plastic refers to products made by collecting, sorting, and reprocessing waste plastics. There are two main processing methods: physical recycling and chemical recycling. Physical recycling involves mechanically crushing and extruding waste plastics, which can only be recycled once or twice due to their deteriorated quality. Chemical recycling, on the other hand, utilizes high temperature, catalysts, and other methods to convert waste plastics into raw materials such as oil. This method allows for infinite reuse without quality degradation but requires advanced technology.
Among eco-friendly plastics, there are also bioplastics (made from biochemical substances) and biodegradable plastics (which decompose through organic processes). However, recycled plastics are considered the most practical option.
“LG Sticks with China” vs “Amorepacific Shifts Focus to Japan”
