Researchers at LG Chem’s future technology center test a newly developed biodegradable material featuring characteristics equal to synthetic resin, in this photo provided by the chemical maker.
SEOUL, March 24 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Tuesday that it will create a business model centered on environmental, social and governance (ESG) that will encompass the full process of producing, collecting, and recycling plastic waste.
The company joined hands with local startup Innerbottle Co. to set up a Plastic Eco-Platform for recycling plastic containers made for cosmetic products.
Innerbottle offers innovative solutions for sustainable packaging with more than 50 intellectual properties registered both in South Korea and abroad.
Innerbottle will be in charge of producing containers for cosmetic products with plastic materials provided by LG Chem, and setting up a distribution system designed exclusively for collecting used containers, which will again be recycled by the two companies.
The containers are made only with materials provided by LG Chem, collected and recycled via an exclusive distribution system, enabling the full, speedy recycling of all plastic resources.
LG Chem plans to offer a constant supply of eco-friendly plastic materials for Innerbottle’s container production, and will also set up a distribution system to track the whereabouts of each container from the production to collection phase.
Ashley Song (ashley@koreabizwire.com)
