SEOUL, Sept. 20 (Korea Bizwire) — The Ministry of Environment’s resource recycling program, which began in 2014 to pressure industrial operations that dispose of large amounts of waste, has proven more effective than expected.
According to data released by the Ministry of Environment Tuesday, many of the companies that are on board with the trial resource recycling scheme, also known as the Performance Management Policy for Resource Recycling, including LG Display, Samsung Display, LS Cable & System, and Taihan Electric Wire, managed to slash the amount of waste generated per unit of production by over 20 percent on average compared to 2013.
‘Waste per unit of production’ means the amount of waste generated in kilograms for every ton of production.
While the average amount of waste among the four companies dropped from 177 kilograms in 2013 to 137 kilograms in 2016, a decrease of over 20 percent, according to the Ministry of Environment, LG Display raised its resource recycling rate from 77.3 percent to 93.3 percent between 2014 and 2016.
Following a series of successes, the environment ministry is set to sign a business agreement with LG Chem’s plant in Cheongju and Hyundai Oilbank’s Daesan refinery, which will see both industrial developments come fall under the auspices of the Performance Management Policy for Resource Recycling.
In 2014, LS Cable & System and Taihan Electric Wire joined the Ministry of Environment in its efforts to push major South Korean manufacturers to do more to curb waste disposal.
LG Display and Samsung Display joined in the following years, with LG Chem and Hyundai Oilbank’s decision to jump on the bandwagon bringing the total number of companies to six.
Over the last three years, the Performance Management Policy for Resource Recycling has been helping hold accountable industrial sites that dispose of great amounts of waste around the country, via monitoring and imposing goals.
“The Performance Management Policy for Resource Recycling has been a great success in encouraging the recycling of resources as well as the reduction of waste. I believe the policy will play a major role in pushing South Korean industry towards a circular economy,” said Lee Byeong-hwa, a representative of the Ministry of Environment.
Ashley Song (email@example.com)