Hanchang Co., Ltd. Enters Green Ocean Market by Promoting Eco-Friendly Solution Business

Leading Circular Economy and Carbon Neutrality with Waste Plastic Low-Temperature Pyrolysis and Oil Refining Equipment Manufacturing

Hanchang Co., Ltd. announced its entry into the eco-friendly business solutions sector for a circular economy, carbon neutrality, and carbon zero through the declaration of its ESG management vision.

On July 30, 2021, during the 54th anniversary “New Vision Declaration Ceremony” held in-house, the company introduced the ESG management system and presented a roadmap to establish itself as a leading company in circular economy, carbon neutrality, and carbon zero by promoting the manufacturing of 『Low-temperature Pyrolysis Emulsification Equipment for Waste Plastic (Model: VESTA-10)』 and the 『Comprehensive Waste Recycling Plant Business Using Low-temperature Pyrolysis Method for Waste Plastic (scheduled to be installed in Jindo-gun, Jeollanam-do)』, as well as advancing into the renewable energy sector.

Choi Seung-hwan, CEO of Hanchang Co., Ltd., expressed his ambition at the vision declaration ceremony, stating that since the company will be required to submit a sustainability report starting in 2030, it plans to adopt the ESG management system early and execute a growth plan to become a top-tier company in the eco-friendly business field.

CEO Choi explained the background of introducing the new management system, saying, “As Korea is a country that complies with international carbon neutrality policies, there is an open window of opportunity in the energy and waste sectors, and the value of companies possessing environmental problem-solving solutions has risen sharply compared to the past.”

He continued, “Hanchang Co., Ltd. has shown great interest in the business potential of the environmental sector, often referred to as the Green Ocean. After long-term business review, we have recruited key personnel for low-temperature pyrolysis technology capable of eco-friendly processing of synthetic resins (such as plastics), which can no longer be finally treated by landfill or incineration. Through our subsidiary, Hanchang Green Holdings Co., Ltd., we have already started supplying and marketing waste plastic low-temperature pyrolysis emulsification equipment (plants) to domestic and overseas local governments.”

Additionally, CEO Choi Seung-hwan revealed that the company is also exploring entry into the offshore wind power generation business, which is currently being fostered at the national policy level for carbon neutrality and carbon zero.

“Within just 20 years, Korea must produce 35% of its total electricity generation from renewable energy. Offshore areas are gaining attention as sites for solar and onshore wind power projects. Regions in Jeollado such as Saemangeum, Seonamhae, and Sinan, known for their excellent wind quality, are considered optimal locations for offshore wind power, and government support is active. Hanchang is diligently working on entering the wind power business through partnerships with local wind power developers currently under development.”