SK Global Chemical said it would spend KRW600 billion ($522 million) to build a plastic chemical recycling plant in Ulsan, which will be the largest of its kind in South Korea. The planned complex will be built on 160,000 square-metre land at Mipo Industrial Complex. The project is part of the company’s target to expand its annual recycling capacity to 900,000 tons by 2025 and 2.5 million tons by 2027
SK Global Chemical has invested in Canada-based Loop Industries, which will provide its proprietary technology to depolymerise polyethylene terephthalate (PET) waste. The depolymerisation plant will have a capacity of 84,000 tons/year and is expected to start operation in 2025.
SK Global Chemical also partners with the US-based waste recycling solution company Brightmark to utilise a pyrolysis technology to break down plastic waste into naphtha. SK Global Chemical will build a pyrolysis facility by 2024 able to process 100,000 tons/year of plastic waste.
