MOU Signing at Busan City Hall on the 11th at 4 PM between Busan City, Hyosung TNC Co., Ltd., and Netspa Co., Ltd.
Promoting Marine Environment Industry and Realizing Clean Seas through Production of Recycled Fishing Net Fibers
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] An era has come where discarded fishing nets and ropes scattered along the coast have become ‘money.’ A marine waste resource circulation project that manages everything from product production to post-use collection and recycling is being promoted in Busan.
Busan City (Mayor Park Hyung-jun) announced on the 10th that it will carry out a marine waste resource circulation project together with Hyosung TNC Co., Ltd. and Netspa Co., Ltd.
On the 11th at 4 p.m., Busan City will sign a business agreement at the 7th floor International Protocol Room of City Hall to promote marine waste recycling and establish a circular economy system.
Until now, marine waste was simply collected and disposed of, but under this agreement, it will be transformed into a circular economy system of ‘production-consumption-collection-recycling.’
Busan City will embark on a public-private collaborative pilot project, the first in the nation, to produce eco-friendly products by utilizing discarded fishing nets as high-quality recycled raw materials.
In the past five years, about 40,000 tons of marine waste collected from coastal areas, the Nakdong River estuary, and harbors have required a budget of 24.2 billion KRW for collection and disposal.
In particular, discarded fishing nets (abandoned nets) are considered a major cause of threats to marine life and ecosystems as well as various marine accidents.
Busan City has been promoting projects such as purchasing waste collected by fishing vessels during operations and supporting the disposal of fishing-related waste to prevent the dumping of discarded fishing nets, ropes, and fishing gear generated during fishing activities.
Netspa Co., Ltd., a marine environment social venture company founded by young entrepreneurs in Busan in 2020, currently operates a small-scale pre-processing plant on a trial basis.
According to this agreement, the company will collect discarded fishing nets discharged by local fishermen in Busan, separate and pre-process them by material type, recover high-quality raw materials, and provide them again.
Through this process, it is expected that the cost of waste disposal under the existing method can be reduced.
Hyosung TNC Co., Ltd., which has adopted an eco-friendly product production policy as part of its ESG (Environmental, Social Responsibility, Transparent Management), plans to produce recycled yarn using discarded fishing nets and handle the production of goods such as clothing, bags, shoes, and branded products.
Busan City will support the production and quality verification testing of recycled fishing net fibers until the first half of this year. It will also carry out various activities such as establishing a marine waste separation and discharge system, marine environment education, and promotional cultural projects to create new jobs and revitalize the local economy.
Mayor Park Hyung-jun of Busan said, “We will build an industrial growth foundation in the marine environment sector to create a clean Busan sea and a green smart city.”
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