Na Kyung-soo, President of SK Geocentric, "Aiming to be the Global No.1 in Recycled Materials"

2025 Plastic Recycling Complex 'Ulsan ARC' Completion Target
Proactive Response to Environmental Regulations in Europe, USA, and More

Na Kyung-su, President of SK Geocentric. Photo by SK Geocentric

[Asia Economy Reporter Jeong Dong-hoon] Na Kyung-soo, CEO of SK Geocentric, expressed his determination to proactively respond to the global climate crisis and plastic waste issues, aiming to establish the company as a global leader in the recycling sector.

On the 14th, in an interview with 'SKino News,' a media channel affiliated with SK Innovation, Na said, "Since SK Geocentric has declared its transition to the world's best recycling materials company, we must respond faster and more actively," adding, "We will transform into a company that provides solutions customers want through recycled materials rather than petroleum."

SK Geocentric is currently advancing plans to establish Ulsan ARC, the world's first comprehensive plastic recycling complex, by 2025. The project involves setting up a plant capable of processing approximately 250,000 tons of plastic waste annually on a 215,000㎡ site (about 65,000 pyeong, equivalent to 22 soccer fields) within the SK Ulsan Complex (CLX), with land preparation work underway.

Na stated, "The year 2025 will mark the full-scale enforcement of environmental regulations, mainly in Europe and the United States," and added, "For plastic products, the time is approaching when a certain percentage of recycled plastic must be mixed in, but the supply of high-quality recycled plastic is significantly insufficient."

He continued, "SK Geocentric's partners will start producing high-quality recycled plastics through commercial plants from this year," emphasizing, "We will proactively secure customers by first presenting recycled plastics of the same quality as those produced at Ulsan ARC, which will begin operation in 2025, and signing contracts."

Regarding funding for the Ulsan ARC investment, he said, "Last year, the chemical industry faced challenges due to oil prices, exchange rates, and factors in China, but this year, with the global easing of COVID-19 restrictions and stimulus policies, we expect growth compared to last year," and added, "We anticipate performance improvements centered on high-value-added chemical materials."

Na also mentioned, "I believe the market has begun to recognize SK Geocentric's sincerity and value in ESG (Environmental, Social, and Governance) management," citing examples such as the successful procurement of 475 billion KRW through the country's first global certification-verified Sustainability-Linked Loan (SLL) in November last year, and the demand forecast for this year's 200 billion KRW corporate bond issuance, which received orders exceeding one trillion KRW, expecting such cases to continue.

Finally, Na said, "Since changing the company name from SK Comprehensive Chemical to SK Geocentric in 2021, I have often been asked why we changed a well-known name," explaining, "It reflects our commitment to transforming our business model with a Geo Centric mindset, and we aim to make SK Geocentric a company that needs no further explanation regarding its name."