SEOUL, March 31 (Korea Bizwire) — A South Korean petrochemical firm will launch a project to improve awareness of resource circulation and establish a new domestic plastic recycling economy.
Lotte Chemical Corp. held a signing ceremony for “Project Loop” with seven companies in Seoul Monday to establish a plastic recycling economy by improving the culture of collecting waste plastics and recycling.
Lotte Chemical and Impact Square, a social venture accelerator, will coordinate the project.
Superbin, a developer of artificial intelligence-based resource recovery robots, will mobilize its Nephron robots, automated plastic bottle receptacles.
Kumho Fiber Industries Co. will be in charge of crushing waste plastic bottles, while the Korea Textile Development Institute will be responsible for producing textile raw materials using waste plastic.
Furthermore, LAR, Beyond and Revelop will produce social venture products using recycled textile sources.
As part of the Project Loop initiative, a total of six Nephron robots were installed at Lotte World Mall, Lotte World and Lotte Mart in Jamsil in January.
The goal is to collect a total of 10 tons of plastic bottles by July.
The manufacturers will produce products such as eco-friendly shoes, clothing and bags by making raw materials and fabric with collected waste plastic bottles.
Kevin Lee (email@example.com)