SK Ecoplant Signs Business Agreement with Jungbu Power and KCMT for 'K-Ecoba Carbon Emission Rights Development Project'

Jojung-sik, Head of Eco Solution BU at SK Ecoplant (left), Park Young-gyu, Head of Technology and Safety Division at Korea Midland Power, and Kim Jun-young, CEO of KCM Tech, are posing for a commemorative photo.

[Asia Economy Reporter Minyoung Kim] SK Ecoplant announced on the 1st that it signed a business agreement for the ‘KEco-bar Carbon Emission Rights Development Project’ with Korea Midland Power and KCMT at its headquarters in Susong-dong, Jongno-gu, Seoul.

Attending the signing ceremony were Cho Jeong-sik, Head of SK Ecoplant Eco Solution BU, Park Young-gyu, Head of Technology and Safety Division at Korea Midland Power, and Kim Jun-young, CEO of KCMT, among other officials.

KEco-bar is a rebar alternative construction material jointly developed by SK Ecoplant and KCMT. It is the world’s first product made by recycling PET bottles as raw materials, and unlike rebar, it does not use scrap metal or limestone during production, resulting in lower carbon emissions. A new factory capable of producing 40,000 tons annually is currently being established in Ulsan and is scheduled for completion next month.

Through this agreement, SK Ecoplant and Korea Midland Power will pursue securing carbon emission rights equivalent to the amount of greenhouse gases reduced through KEco-bar production.

SK Ecoplant plans to conduct monitoring to collect and provide data and materials necessary for external project registration. Korea Midland Power will take the lead in all tasks related to external project registration.

Cho Jeong-sik, Head of SK Ecoplant Eco Solution BU, said, “KEco-bar, which recycles discarded PET bottles, is environmentally friendly on its own, but we expect this project to create additional added value.”