Taekwang Industrial and Jeju Tourism Organization Join Hands to Promote Eco-Friendly Management in the Tourism Industry

"Eco-friendly Responsible Management... Enhancing Social Value Creation and Corporate Value"

Taekwang Industrial signed a multilateral memorandum of understanding (MOU) on the 20th with nine organizations and companies, including Jeju Tourism Organization, Jeju Center for Creative Economy and Innovation, Jeclin, Kolon Industries FnC Division, and Youngshin Towel. Pictured from left to right are Lee Byung-seon, Director of Jeju Center for Creative Economy and Innovation; Hyun Yong-tak, General Manager of Maison Glad Jeju; Kang Shin-il, Vice President of MY Social Company; Cha Seung-su, CEO of Jeclin; Ko Eun-sook, President of Jeju Tourism Organization; Park Jeong-geun, Head of Jeju Branch of Small and Medium Business Corporation; Han Kyung-ae, Executive Director of Kolon Industries FnC Division; and Jeong Cheol-hyun, CEO of Taekwang Industrial (second from right), posing for a commemorative photo. Photo by Jeju Tourism Organization

[Asia Economy Reporter Choi Seoyun] Taekwang Group's textile and petrochemical affiliate, Taekwang Industrial, has signed a business agreement with Jeju Tourism Organization to promote eco-friendly management in Jeju's tourism industry.

On the 21st, Taekwang Industrial announced that it had signed a multilateral business agreement with a total of nine organizations and companies, including Jeju Tourism Organization, Jeju Center for Creative Economy and Innovation, JeClean, Kolon Industries FnC Division, and Youngshin Towel.

This project aims to establish a cooperative system to expand eco-friendly management activities in Jeju's tourism (accommodation) industry and to discover and support Jeju startups capable of producing eco-friendly products. Support necessary for eco-friendly projects will be carried out through mutual cooperation among companies and institutions, including building a virtuous cycle platform that converts resources landfilled or incinerated in the tourism industry into recycled products.

As the first outcome, Jeju's tourism (accommodation) industry will collect, sort, and select used duvet covers, pillow covers, and sheet covers through JeClean, a laundry platform specialist company. Taekwang Industrial will then recycle the raw materials to produce recycled cotton yarn. Subsequently, Youngshin Towel will produce a prototype 'face towel,' and the produced recycled cotton 'face towel' will be sold through Jeju Tourism Organization. Moving forward, they plan to expand the recycling and productization business of waste bedding in collaboration with Youngshin Towel, the prototype production company, and Kolon Industries FnC Division.

Taekwang Industrial is a leading domestic company with unique eco-friendly technology that recycles used clothing into high value-added textiles. Through this project, they aim to strengthen the resource circulation network and solidify their position in the domestic eco-friendly recycled textile market by improving quality and marketing activities amid growing global demand for eco-friendly recycled textiles.

A Taekwang Industrial official said, "Through this agreement, we will continue to create social value aligned with eco-friendly responsible management to enhance corporate value."