{"id":16493,"date":"2023-11-15T17:00:20","date_gmt":"2023-11-15T08:00:20","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=16493"},"modified":"2023-11-29T10:10:57","modified_gmt":"2023-11-29T01:10:57","slug":"sk-geo-centric-breaks-ground-on-the-worlds-first-plastics-recycling-cluster","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/16493","title":{"rendered":"SK Geo Centric breaks ground on the world’s first plastics recycling cluster"},"content":{"rendered":"

\u25a0 A groundbreaking ceremony for the Ulsan ARC was held at the site of SK Innovation\u2019s Ulsan Complex in Nam-gu, Ulsan on November 15<\/span><\/strong><\/p>\n

\u25a0 Prime Minister of South Korea Han Duck-soo, Mayor of Ulsan Kim Doo-gyeom, Vice Chairman & CEO of SK Innovation Kim Jun, and SK Geo Centric CEO Na Kyung-soo were in attendance<\/span><\/strong><\/p>\n

\u25a0 \u201cUlsan will lead the future global recycling industry and pioneer a new national growth engine through the plastic recycling business.”<\/span><\/strong><\/p>\n

\u25a0 Expected investment of KRW 1.8 trillion by 2025, an annual production inducement effect of KRW 1.3 trillion, and annual exports of USD 700 million upon completion<\/span><\/strong><\/p>\n

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SK Geo Centric breaks ground on the world’s first integrated waste plastic recycling complex in Ulsan, opening a new chapter for South Korea’s circular economy. This world\u2019s first factory is expected to enhance South Korea’s capabilities in tackling domestic environmental issues related to plastics and boost competitiveness in the plastic recycling sector, a future cash cow sector.<\/span><\/p>\n

On November 15, SK Geo Centric announced that the company held a groundbreaking ceremony for the world’s first integrated waste plastic recycling complex, \u201cUlsan ARC (Advanced Recycling Cluster),\u201d located within the 215,000 \u33a1 area of SK Innovation\u2019s refining and petrochemical complex \u201cUlsan CLX\u201d in Gosa-dong, Nam-gu, Ulsan. The construction, equivalent in size to 22 international standard soccer pitches, involves a total investment of KRW 1.8 trillion and is scheduled for completion by the end of 2025.<\/span><\/p>\n

The theme of the ceremony was \u201cOpening the Future of Korea\u2019s Circular Economy\u201d and was attended by the Prime Minister of South Korea Han Duck-soo, Mayor of Ulsan Kim Doo-gyeom, Member of the National Assembly Park Sung Min, Deputy Minister of the Climate Change and Carbon Neutral Policy Office of the Ministry of Environment Geum Han-seung, Director of the Industrial Policy office of the Ministry of Trade, Industry, and Energy Lee Seung-ryeol, Vice Chairman & CEO of SK Innovation Kim Jun, and SK Geo Centric CEO Na Kyung-soo along with 250 other guests.<\/span><\/p>\n

South Korean Prime Minister Han Duck-soo said in his congratulatory address, \u201cThe circular economy is a new economic order, and plastic is one of the keys to the circular economy transition.\u201d He continued, \u201cThe government seeks to build the foundation for a plastic-free society to reduce social costs caused by increased plastic waste and strengthen industrial competitiveness.\u201d He also said, \u201cThe government will support the research & development, as well as the industrial development to create an environment for plastics to be recycled as raw materials for the chemical industry, and will be a strong partner for companies taking the lead in building a circular economy.\u201d<\/span><\/p>\n

Mayor of Ulsan Kim Doo-gyeom said, \u201cWe are delighted that the world\u2019s first eco-friendly cluster integrating three major advanced recycling technologies has been built in Ulsan.\u201d He added, \u201cIn the future, we will focus our capabilities on creating a circular economy full-cycle industrial ecosystem in Ulsan and creating a carbon-neutral success model centered on the cutting-edge recycling cluster.\u201d<\/span><\/p>\n

Kim Jun, Vice Chairman & CEO of SK Innovation, said in his greeting, \u201cUlsan ARC is an iconic project of SK Innovation, which is pursuing innovation in business (Green Transformation) that contributes to the environment, and also penetrates sustainability – the core value of SK Group.\u201d He emphasized, \u201cWaste plastic will be reborn as a resource, and Ulsan, South Korea will become the backbone of the future plastic circular economy.\u201d<\/span><\/p>\n

In his welcome speech, SK Geo Centric CEO Na Kyung-soo said, \u201cSK Geo Centric wants to open a new history in line with the changing needs of the times, such as the challenges facing the chemical industry and the climate crisis.\u201d \u201cOnce the Ulsan ARC is completed, approximately 320,000 tons of waste plastic will be produced annually. The Korean chemical industry will leap forward once again based on a new future growth engine – recycled plastic,\u201d he added.<\/span><\/p>\n

SK Geo Centric is expected to resolve domestic environmental problems related to plastics and enhance competitiveness in the plastic recycling sector through Ulsan ARC. Once Ulsan ARC begins operation in 2026, around 320,000 tons of waste plastic will be recycled every year. This amounts to approximately 10% of waste plastic (3.5 million tons) that is incinerated or landfilled in Korea every year.<\/span><\/p>\n

The Ulsan ARC project is anticipated to have a significant economic impact on the Ulsan region as well as the entire country. The main construction is expected to create about 2,600 permanent jobs and approximately 38,000 indirect employment opportunities. The indirect production-inducing effect in the Ulsan region is estimated to reach KRW 1.3 trillion annually and an increase of USD 700 million in exports expected upon completion. The company plans to expand the value chain of the overall recycling industry by diversifying partnership with small and mid-sized companies that specialize in collection and sorting in order to secure waste plastics necessary for factory operation.<\/span><\/p>\n

The Ulsan ARC symbolizes a significant shift for SK Geo Centric as the complex presents solutions to waste problems and a blueprint for future business. The advanced recycling complex implements the three key advanced recycling technologies: pyrolysis, high-purity polypropylene (PP) extraction, and depolymerization, all in one place. A significant amount of plastics can be recycled regardless of its color, properties, and degree of contamination due to the complex\u2019s technology.<\/span><\/p>\n

A circular economy begins with the Ulsan ARC, a place where waste plastics find new uses. By utilizing advance methods to recycle plastic, it is anticipated that the use of crude oil will be reduced as the technology provides a solution for preventing recyclable plastic from being incinerated or landfilled.<\/span><\/p>\n

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[Photos]<\/strong><\/span><\/p>\n

(Photo 1,2,3) (6th<\/sup> from the left) SK Geo Centric CEO Na Kyung-soo, (7th<\/sup> from the left) Mayor of Ulsan Kim Doo-gyeom, (8th<\/sup> from the left) Prime Minister of South Korea Han Duck-soo, (9th<\/sup> from the left) Vice Chairman & CEO of SK Innovation Kim Jun, and (10th<\/sup> from the left) Member of the National Assembly Park Sung-min are participating in a ceremony under the theme of “Opening the Future of Korea\u2019s Circular Economy” that was held to announce the start of the ‘Ulsan ARC groundbreaking ceremony,’ the world\u2019s first plastic recycling complex, at the SK Innovation Ulsan Complex (CLX) in Nam-gu, Ulsan on November 15 (local time).<\/span><\/p>\n

\u203b Note: (Start from the left) Chairmain Lee Yoon-cheol of the Ulsan Chamber of Commerce and Industry, Deputy Minister of the Climate Change and Carbon Neutral Policy Office of the Ministry of Environment Geum Han-seung, Director of the Industrial Policy office of the Ministry of Trade, Industry, and Energy Lee Seung-ryeol, Second Vice Minister of Government Policy Coordination Lee Jeong-won, PureCycle Technologies CEO Dustin Olson, SK Geo Centric CEO Na Kyung-soo, Mayor of UIsan Kim Doo-gyeom, Prime Minister of South Korea Han Duck-soo, Vice Chairman and CEO of SK Innovation Kim Jun, Member of the National Assembly Park Sung Min, Loop Founder and CEO Daniel Solomita, Deputy Minister of Prime Minister\u2019s Secretariat Park Seung-keun, Chairman of board of directors Park Jin-Hei, Plastic Energy President & CEO Carlos Monreal, and Deputy Mayor for Economic Affairs Ahn Hyo-dae. <\/span><\/p>\n

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(Photo 4) SK Geo Centric CEO Na Kyung-soo delivers a speech at the groundbreaking ceremony for the Ulsan ARC, the world’s first plastic recycling cluster, held at the SK Innovation Ulsan Complex (CLX) in Nam-gu, Ulsan on November 15 (local time). <\/span><\/p>\n

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(Photo 5) Vice Chairman & CEO of SK Innovation Kim Jun delivers a welcoming speech at the Ulsan ARC ceremony held at the SK Innovation Ulsan Complex (CLX) in Nam-gu, Ulsan on November 15 (local time).<\/span><\/p>\n

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(Photo 6) Prime Minister of South Korea Han Duck-soo delivers a congratulatory speech at the ceremony for the Ulsan ARC, at the SK Innovation Ulsan Complex (CLX) in Nam-gu, Ulsan on November 15 (local time). <\/span><\/p>\n

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(Photo 7,8) SK Geo Centric CEO Na Kyung-soo delivers a speech at the groundbreaking ceremony for the Ulsan ARC, the world’s first plastic recycling cluster, held at the SK Innovation Ulsan Complex (CLX) in Nam-gu, Ulsan on November 15 (local time). <\/span><\/p>\n

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(Photo 9) (5th<\/sup> from the left) SK Geo Centric CEO Na Kyung-soo, (6th<\/sup> from the left) Mayor of Ulsan Kim Doo-gyeom, (7th<\/sup> from the left) Prime Minister of South Korea Han Duck-soo, (8th<\/sup> from the left) Vice Chairman & CEO of SK Innovation Kim Jun, and (9th<\/sup> from the left) Member of the National Assembly Park Sung Min are participating in a ceremony under the theme of \u2018Opening the Future of Korea\u2019s Circular Economy’ that was held to announce the start of the “Ulsan ARC groundbreaking ceremony,” the world\u2019s first plastic recycling complex, at the SK Innovation Ulsan Complex (CLX) in Nam-gu, Ulsan on November 15 (local time).<\/span><\/p>\n

\u203b Note: (From left) Chairmain Lee Yoon-cheol of the Ulsan Chamber of Commerce and Industry, Deputy Minister of the Climate Change and Carbon Neutral Policy Office of the Ministry of Environment Geum Han-seung, Director of the Industrial Policy office of the Ministry of Trade, Industry, and Energy Lee Seung-ryeol, Second Vice Minister of Government Policy Coordination Lee Jeong-won, PureCycle Technologies CEO Dustin Olson, SK Geo Centric CEO Na Kyung-soo, Mayor of UIsan Kim Doo-gyeom, Prime Minister of South Korea Han Duck-soo, Vice Chairman and CEO of SK Innovation Kim Jun, Member of the National Assembly Park Sung Min, Loop Founder and CEO Daniel Solomita, Deputy Minister of Prime Minister\u2019s Secretariat Park Seung-keun, SK Innovation Chairman of Board of Directors Park Jin-hei, Plastic Energy President & CEO Carlos Monreal, and Deputy Mayor for Economic Affairs Ahn Hyo-dae. <\/span><\/p>\n

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\u25a0 Related articles <\/strong>
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\n– SK Geo Centric unveils plastic recycling technologies and global strategies centered on high value-added chemical materials at Chinaplas 2023<\/a>
\n– SK Geo Centric revealed the world\u2019s first \u201cplastic waste recycling cluster\u201d and new eco-friendly brand \u201cCYCLUS\u201d at K 2022<\/a><\/span><\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u25a0 A groundbreaking ceremony for the Ulsan ARC was held at the site of SK Innovation\u2019s Ulsan Complex in Nam-gu, Ulsan on November 15 \u25a0 Prime Minister of South Korea Han Duck-soo, Mayor of Ulsan Kim Doo-gyeom, Vice Chairman & CEO of SK Innovation Kim Jun, and SK Geo Centric CEO Na Kyung-soo were in … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":16514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4,8,58],"tags":[1369,491,580,1592,1556],"class_list":["post-16493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporates","category-press-room","category-press-release","category-sk-geo-centric","tag-arc","tag-circular-economy","tag-plastic-recycling","tag-plastics-recycling-cluster","tag-ulsan-arc"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/16493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=16493"}],"version-history":[{"count":26,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/16493\/revisions"}],"predecessor-version":[{"id":16495,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/16493\/revisions\/16495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/16514"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=16493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=16493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=16493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}