LG Chem, 100% Reuse of Waste Plastic... Establishing ESG Management

Researchers at LG Chem Future Technology Research Center are testing the properties of biodegradable new materials.

[Asia Economy Reporter Oh Hyung-gil] LG Chem is contributing to the virtuous cycle of waste plastic resources by developing eco-friendly recycled plastics and biodegradable plastic materials.

They have established an ESG (Environmental, Social, and Governance) business model covering the entire process from plastic production to post-use collection and recycling. A representative example is the Plastic Eco Platform, which perfectly recycles plastic cosmetic containers in collaboration with the startup Innerbottle.

Innerbottle manufactures cosmetic containers using plastic materials provided by LG Chem, and through a dedicated logistics system that collects only the used containers, they are collected and then recycled back into raw materials. Because the containers made solely from LG Chem's plastic materials are collected and recycled through this dedicated system, plastic resources can be reused 100%.

They are also accelerating the establishment of chemical recycling plants and technology development. LG Chem plans to build the country's first supercritical pyrolysis oil plant in Dangjin, Chungnam, with an annual capacity of 20,000 tons by the first quarter of 2024. Pyrolysis oil is a renewable fuel extracted from used plastics and can be used as raw material for producing new plastics.

Eh has succeeded in developing a biodegradable new material that can achieve mechanical properties equivalent to synthetic resin for the first time in the world. It is a 100% bio-content biodegradable material made from glucose derived from corn and waste glycerol. It is the world's only material that can realize mechanical properties and transparency equivalent to synthetic resin.

An LG Chem official said, "We will establish and implement concrete measures to accelerate ESG management across all business sectors and further solidify our position as a leading company in sustainability."