Korea Zinc and LG Chem Form Resource Circulation Alliance... Joint Response to US Recycling Regulations

Goal of Establishing a Resource Circulation System
Sharing Local Market Research and Policy Trends
Exploring Collaboration Opportunities Such as Technical Cooperation

Korea Zinc and LG Chem have joined forces to respond to waste resource recycling regulations in the United States.

On the 14th, Korea Zinc announced that it signed a Memorandum of Understanding (MOU) with LG Chem regarding the "Project to Establish a Resource Circulation System through Recycling of Waste Plastics in the United States."

Through the signing of the MOU, both companies plan to share trends in the U.S. recycling market and policies, and establish a resource circulation system by promoting waste plastic recycling businesses.

Regarding the purpose of this MOU, Korea Zinc stated, "It is to understand major policy trends related to waste and recycling and to establish regulatory response strategies," adding, "At the same time, it is to collaborate by combining Korea Zinc’s electronic waste processing technology with LG Chem’s technology for enhancing the quality of recycled waste plastic products." Once the business model becomes more concrete, they plan to expand the scale by adding suppliers.

Korea Zinc has already acquired the U.S. electronic waste recycling company Ignio Holdings in 2022 and is producing eco-friendly copper using intermediates produced locally.

On the 14th, Sang-geun Lee, Head of Planning Division at Korea Zinc, and Hwa-young Lee, Head of Sustainability Business Division at LG Chem, signed a business agreement for cooperation in the resource circulation business at the LG Twin Towers in Yeongdeungpo-gu, Seoul, and took a commemorative photo. Photo by Korea Zinc

Korea Zinc and LG Chem are also continuing their cooperation in the secondary battery materials business sector. Earlier, in May 2022, the two companies established a joint venture, Korea Precursor Co., Ltd., to strengthen collaboration, and they plan to start mass production and shipment of products in 2025 following pilot operations in the first half of this year.

Lee Sang-geun, Head of Planning at Korea Zinc, said, "This MOU will be an important point for expanding Korea Zinc’s resource circulation business," adding, "With the cooperation of LG Chem, the competitiveness of the resource circulation business, which is one of the three driving forces of Korea Zinc, will be further enhanced."

Hwa-young Lee, Head of Sustainability Business at LG Chem, said, "The cooperation between the two companies will be an opportunity to proactively respond to recycling regulations in the U.S.," adding, "By combining Korea Zinc’s unique recycling raw material procurement and intermediate extraction technology with LG Chem’s world-class waste plastic recycling technology, it seems possible to establish a truly meaningful resource circulation system."