SEOUL, Aug. 5 (Korea Bizwire) — Major oil refiner GS Caltex Corp. has teamed up with the Korean unit of Swiss food giant Nestle to establish a circular economy, aimed at promoting resource efficiency and carbon reduction.
GS Caltex and Lotte-Nestle Korea Ltd. on Thursday formed a business agreement to promote the recycling of waste plastics.
Under the terms of the agreement, the new venture will increase the ratio of resource circulation by minimizing waste generation as well as realizing an upcycling system to create new value.
As a first step, GS Caltex plans to use eco-friendly compound resin for the processing and production of the plastic capsules that Lotte-Nestle Korea’s Nescafe Dolce Gusto is selling in the domestic market.
The collected plastic capsules will be processed as recyclable raw materials through the pre-treatment process by a local partner company. With this, GS Caltex will produce upcycled eco-friendly compound resins.
The refiner also plans to develop high-value-added products using Lotte-Nestle Korea’s recycled raw materials.
Ashley Song (email@example.com)