Samhwa Paint Industry and P&B Sign Business Agreement
Introducing 'Raimex' Paint Containers in Q1
SKC's biodegradable material business investor SK TBM GOSSTONE is entering the eco-friendly paint container market in partnership with Samhwa Paints Industrial.
On the 22nd, SK TBM GOSSTONE, Samhwa Paints Industrial, and container manufacturing specialist P&B signed a "Biodegradable Eco-Friendly Paint Container Development Business Agreement" at SKC headquarters in Jongno-gu, Seoul. Based on this agreement, the three companies will collaborate on ▲application and sales of eco-friendly paint containers ▲development and supply of eco-friendly raw materials optimized for paint containers ▲development and manufacturing of paint containers.
Samhwa Paints Industrial plans to introduce paint containers manufactured by P&B using SK TBM GOSSTONE's eco-friendly biodegradable LIMEX material starting from the first quarter of this year. SK TBM GOSSTONE has combined the biodegradable material PBAT (Polybutylene Adipate Terephthalate) with the natural limestone-based LIMEX to create a biodegradable LIMEX that achieves the same durability, processability, and sealing properties as conventional containers.
On the 22nd, at the SKC headquarters in Jongno-gu, Seoul, (from left) Yang Ji-hyun, CEO of SK TVM GOSTONE, Ryu Ki-bung, CEO of Samhwa Paint Industrial, and Hwang Yeon-gi, CEO of P&B, signed a memorandum of understanding for the development of biodegradable eco-friendly paint containers and are holding up the memorandum. [Photo by SKC]
The domestic paint market size is approximately 4 trillion KRW annually, with container distribution reaching tens of thousands of tons. Existing plastic containers are lightweight and convenient to use but do not decompose when landfilled or incinerated, causing pollution such as microplastics. In contrast, biodegradable LIMEX containers are not only made from eco-friendly raw materials but also biodegrade over 90% within six months under composting conditions, returning to nature.
SKC previously established SK TBM GOSSTONE in 2021 through a joint venture with Japan's TBM, which holds LIMEX technology, and has been promoting the commercialization of biodegradable LIMEX. Through its investor Ecovance, SK TBM GOSSTONE is also advancing the commercialization of high-strength PBAT developed with proprietary technology. They are currently constructing the world's largest PBAT production facility with an annual capacity of 70,000 tons and a LIMEX production facility with an annual capacity of 36,000 tons in Haiphong City, Vietnam, aiming for operation in 2025.
Yang Ji-hyun, CEO of SK TBM GOSSTONE, said, "Collaboration with Samhwa Paints Industrial and P&B, which have excellent competitiveness in the paint and container markets, and SK TBM GOSSTONE, which possesses core biodegradable material technology, will create strong synergy. We will diversify the applications of biodegradable materials and strengthen our eco-friendly material business."
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